Sen. Barbara Boxer’s climate bill set to be released today contains a provision that will compensate General Electric quite nicely for its lobbying and media efforts promoting climate legislation.
Section 821(c) requires that, by December 12, 2012, the EPA set standards for greenhouse gas emissions from “new aircraft and new engines used in new aircraft.”
General Electric is the world’s largest manufacturer of commercial and military jet engines, a business worth about $12 billion in annual revenues.
So the Boxer bill would compel airlines and the military, when purchasing new aircraft and new aircraft engines, to purchase more expensive “green” engines made by GE, according to standards set by the current and GE-lobbied Obama administration.
I'm sure Keith Olbermann, scourge of corporate corruption everywhere, will blow the lid off this story in his next show on...
Oh well, scratch that idea!