Bob Corker: “The reason we have cap-and-trade legislation being discussed is the fact that we want to limit the amount of carbon…”

“The reason we have cap-and-trade legislation being discussed is the fact that we want to limit the amount of carbon emissions that come out of our country. So one of the other pieces of the bill that, to me, is truly offensive is that this bill allows for something called international offsets, which is nothing more--again, I will go into this in detail when I offer an amendment--this is something that encourages companies in our country to go through a loophole so they don't have to pay the full price of carbon, and actually spend billions of dollars in countries such as China, where we already have tremendous trade deficits. I absolutely have no understanding of why we would permit that in a bill such as this, which is being designed to limit carbon emissions in our country. These international offsets have been documented to be fraudulent. We have had tremendous problems in working through the United Nations to administer these programs. I have no idea why international offsets, which have been so fraudulent and have nothing whatsoever to do with lowering emissions in our country, would be part of this bill.”