CONTENTS -- PREFACE -- TESTIMONY OF IAN BOWLES, SECRETARY OF ENERGY AND ENVIRONMENTAL AFFAIRS, BEFORE THE SELECT COMMITTEE ON ENERGY INDEPENDENCE AND GLOBAL WARMING -- WRITTEN TESTIMONY OF DALLAS BURTRAW, BEFORE THE "CAP,AUCTION & TRADE HEARING:AUCTIONS AND REVENUE RECYCLING UNDER CARBON CAP AND TRADE" -- TESTIMONY OF ROBERT GREENSTEIN, CENTER ON BUDGET AND POLICY PRIORITES, BEFORE THE "CAP, AUCTION &TRADE HEARING" -- OPENING STATEMENT FOR EDWARD J.MARKEY (D-MA) BEFORE THE "CAP,AUCTION &TRADE HEARING" -- TESTIMONY OF JOHN D. PODESTA BEFORE THE "CAP,AUCTION &TRADE HEARING" -- WRITTEN STATEMENT BY PETER ZAPFEL, DIRECTORATE GENERAL FOR ENVIRONMENT, EUROPEAN COMMISSION, BRUSSELS, BEFORE THE "CAP,AUCTION &TRADE HEARING" -- EMISSION ALLOWANCE ALLOCATION IN A CAP-AND-TRADE PROGRAM: OPTIONS AND CONSIDERATIONS -- TRADE-OFFS IN ALLOCATING ALLOWANCES FOR CO2 EMISSIONS -- INDEX.