Emerging legislation on climate change could give trillions of dollars over time to polluting industries. The details of Congressmen Henry Waxman and Ed Markey’s bill includes a cap and trade scheme that would limit greenhouse gas emissions but give away about half of the permits to pollute for free, instead of auctioning them off. Peter Barnes, a senior fellow with the Tomales Bay Institute, talks with host Jeff Young about what the bill could mean for consumers, industry, and the emissions reductions.