This quote from the report seems to me the most telling aspect of the proposed bill.

"Also attached is a plan from Sens. Jeff Bingaman (D-N.M.) and Arlen Specter (R-Pa.) that seeks to bring along some of the world's fastest growing economies, such as China and India.
Under the Lieberman-Warner plan, U.S. trading partners must purchase pollution credits for their carbon-intensive exports if they do not have sufficient global warming policies in place."

So it would be down to US officials to judge whether other nations' global warming policies are "sufficient" ?

Given that the US has reneged on its obligation to honour the terms of the Berlin Mandate,
and thus is plainly acting in bad faith over the GW issue,
this proposal is imperial arrogance taken to new depths of stupidity.

We have the proper forum for negotiation, the UN Framework Convention on Climate Change,
and for Congress to now set laws that sideline the UN,
and use trade sanctions to coerce other nations' compliance
would not only be ludicrous given the unequalled US carbon debt,
it would also directly disrupt the negotiation of the requisite global Treaty of the Atmospheric Commons.

So, Gristers, beware, the corporations' representatives would lock the US into permitting their sponsors to continue adding to the problem of excess airborne GHGs for 42 years, or roughly two generations.

Once commercial investments are made under such spurious national law on a global issue, it could become massively costly to accelerate the proposed rate of GHG cuts.

Is that really in your best interests ?

Regards,

Bill

I am surprised you like this bill Mr. Romm when so many credits are given away in a fashion favorable to coal and when the research money is so schewed toward coal technologies.  
I am sure that I am not the only one to notice that there were mentions of "no or low" emission technologies, but it never said the word "renewable." Sounds like nukes to me.