Financials could face carbon curbs under Senate proposals

A spokesperson for Washington Democrat Senator Maria Cantwell confirmed she is currently drafting legislation to address the issue of who can trade carbon under the cap-and-trade scheme laid out in the ACES Act and that she is against financial participation. Cantwell's proposals are scheduled to be released after the August recess.

Such views tie in with a sharper focus on financial trading and the use of derivatives among US legislators in the wake of the financial crisis. In a July 16 speech,

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