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Top Executives from GE, United Tech Ask Congress to Set Price for CO2

Executives from two large US firms have asked a congressional panel to set a price for CO2 emissions  so that companies would be motivated to use energy efficiently and the nation would take part in the fight against global warming. George David, Head of United Technologies Corporation, did not stress on any particular approach and said both carbon tax and cap-and-trade would be ok as long as there is a price for CO2. However, John Rice of General Electric recommended cap-and-trade as the most suitable approach to the issue.

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