Read here. The science experts are analyzing the impact of the latest incarnation of the 'cap and trade' legislation masquerading as the Kerry-Lieberman American Power Act. As has been found with the previous Waxman-Markey bill, the government's own computer climate models indicate this type of legislation will do squat for global warming and climate change, as the below chart shows. (click on image to enlarge)
This legislation is all about enriching the Goldman Sachs and Al Gores of the world via carbon offsets and carbon permit trading schemes - it's not about global temperatures in the least.
"The global temperature “savings” of the Kerry-Lieberman bill is astoundingly small—0.043°C (0.077°F) by 2050 and 0.111°C (0.200°F) by 2100. In other words, by century’s end, reducing U.S. greenhouse gas emissions by 83% will only result in global temperatures being one-fifth of one degree Fahrenheit less than they would otherwise be. That is a scientifically meaningless reduction...Climatologically, the Kerry-Lieberman American Power Act, in and of itself, is a meaningless bill. To make it effective, it must involve the world’s developing counties."