Blog: Chemical industry fears effects of a cap-and-trade system

05/14/2009 | ICIS News (U.K.)

Criticism continues to mount from the chemical industry about cap-and-trade legislation. A recent report from the Heritage Foundation indicates that passage of the climate-change bill under consideration in a House committee would cut overall manufacturing jobs by 23%; Eastman Chemical Chairman and CEO Brian Ferguson said the effects could be significant: "The cap-and-trade proposal, which [seeks to] tax U.S. companies using fossil fuels, could be 'crippling' to U.S. manufacturers."

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ICIS News (U.K.)

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