The Obama proposal (being announced in a few minutes) to cut greenhouse gas emissions by imposing tighter fuel efficiency standards for cars is being hailed as one of those compromises everyone can live with. Auto execs from Ford, GM and Chrysler will attend, along with Governor Arnold Schwarzenegger from California which had favored tougher rules.
But there's still a battle brewing over the larger plan to put a cap emissions. And a battle over the economic models used to calculate those costs.
Here's an exerpt from a press release that just showed up in my inbox from the Republican side of the House committee on global warming.
A report by the Heritage Foundation... shows this bill could destroy as many as 1.9 million jobs and will cause electricity rates to rise by 90 percent, gasoline by 74 percent, and raise the average family's electricity bill by $1,500 a year.
The Republicans are also unhappy with some of the EPA's numbers.