New analysis reveals cap-and-trade would provide windfall profits to politically connected firms, redistribute wealth

Blockbuster Study: Working-Class Bears Burden of Cap-and-Trade

By Institute for Energy Research
Wednesday, September 30, 2009

WASHINGTON – With Sens. Barbara Boxer (D-Calif.) and John Kerry (D-Mass.) expected to reveal a draft of the Senate’s climate bill this week, free-market think tank Institute for Energy Research (IER) released a new analysis http://instituteforenergyresearch.org/p ... 8-2009.pdf today outlining how cap-and-trade would precipitate a financial windfall for well-connected special interests and politically-favored companies.

The study, entitled “Who Benefits from Free Emission Allowances? An Economic Analysis of the Waxman-Markey Cap-and-Trade,â€