Volume 155, No. 98 covering the 1st Session of the 111th Congress (2009 - 2010) was published by the Congressional Record.
The Congressional Record is a unique source of public documentation. It started in 1873, documenting nearly all the major and minor policies being discussed and debated.
“VOTE NO ON CURRENT CAP-AND-TRADE BILL” mentioning the Environmental Protection Agency was published in the House of Representatives section on pages H7450 on June 26, 2009.
The publication is reproduced in full below:
VOTE NO ON CURRENT CAP-AND-TRADE BILL
(Mr. DeFAZIO asked and was given permission to address the House for 1 minute.)
Mr. DeFAZIO. Madam Speaker, unlike his predecessor, President Obama recognizes that greenhouse gasses and climate change are a real problem and must be dealt with, and in the tradition of the hugely successful Clean Water Act and Clean Air Act, he has ordered his Environmental Protection Agency to develop rules to cap and reduce greenhouse gasses.
This bill today actually prohibits the EPA from continuing to develop rules to regulate greenhouse gasses in the tradition of the Clean Water Act and the Clean Air Act. Instead, it turns to a market-based approach. Instead of a firm cap, regulating and reducing, this bill turns us to carbon offset derivative futures that will be insured by credit default swaps.
How quickly they forget Wall Street and AIG and the damage they wrought in the financial sector. This, Wall Street predicts, is the new
$1 trillion market. The market manipulators of Enron Corporation may have bankrupted their company, Ken Lay may be gone, but their spirit is fully embodied in this legislation.
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