Brian Sussman of The American Thinker, May 10, reports that an attempt is underway in the US to put Cap & Trade back on the agenda. If this is successful then Rudd the Dudd will be instructed to resurrect his (?) Emissions Trading Scheme.
One of the proponents is unsuccesful Presidential candidate John Kerry.
What is it about these Presidential failures?
Liar Liar Pants on Fire Al Gore is the other Presidential failure.
Anyway enough of my ravings. Here is the article. It can be read in full at:
http://www.americanthinker.com/2010/05/capandtrade_is_back.html
"On Wednesday, Senators John Kerry (D-MA) and Joe Lieberman (I-CT) plan to introduce legislation designed to inflate the cost of energy, strain family budgets, and decimate America's manufacturing sector -- all in the name of supposedly saving the climate.
Kerry and Lieberman have been revamping legislation that narrowly passed the House of Representatives last year. The House bill imposes oppressive limits on carbon dioxide (CO2) emissions and establishes a complex cap-and-trade scheme in which the federal government determines how much CO2 a business may emit.
If a business exceeds its allowance, it may purchase additional "carbon credits" from an exchange, where the credits will be traded like a commodity. Rules for the exchange of carbon credits, including the trading of carbon derivatives, are addressed in the House bill, and my sources tell me that the Senate version will include these same stratagems.
My insiders also say the new Kerry-Lieberman proposal will keep the House bill's goal of attaining a 17-percent reduction of greenhouse gases (below their 2005 level) by 2020. Apparently the Senate bill will allow cap-and-trade to hit power companies first, and then within six years include the manufacturing sector.
If a business exceeds its allowance, it may purchase additional "carbon credits" from an exchange, where the credits will be traded like a commodity. Rules for the exchange of carbon credits, including the trading of carbon derivatives, are addressed in the House bill, and my sources tell me that the Senate version will include these same stratagems.
My insiders also say the new Kerry-Lieberman proposal will keep the House bill's goal of attaining a 17-percent reduction of greenhouse gases (below their 2005 level) by 2020. Apparently the Senate bill will allow cap-and-trade to hit power companies first, and then within six years include the manufacturing sector.
Presently, 40 percent of CO2 emissions in the United States are derived from electricity generation, 35 percent from transportation, and 25 percent from business, industry, and natural gas to heat homes.
So where will the 17% cut come from, especially given that (according to U.S. census projections) there will be an additional 30 million people in the United States by 2020?
If the cuts are distributed proportionately, the biggest blow will be to electricity production. Since 50 percent of our nation's electricity is derived from coal, that industry and its customers will be hit hardest. Coal plants are going to have to be shuttered. And what will replace that energy resource? Nothing.
Some might counter that the House bill touts complex tax credits for wind and solar development. However, when the wind isn't blowing and the sun isn't shining, those two alternatives don't provide a watt of energy -- they're simply enhancements, not baseload providers.
If the cuts are distributed proportionately, the biggest blow will be to electricity production. Since 50 percent of our nation's electricity is derived from coal, that industry and its customers will be hit hardest. Coal plants are going to have to be shuttered. And what will replace that energy resource? Nothing.
Some might counter that the House bill touts complex tax credits for wind and solar development. However, when the wind isn't blowing and the sun isn't shining, those two alternatives don't provide a watt of energy -- they're simply enhancements, not baseload providers.
Further straining the family budget, a new set of fees and taxes will be imposed on all sectors of the economy that produce greenhouse gases. This will include transportation, farming, livestock production -- even restaurants that cook barbecued chicken and ribs over an open flame and bottling companies that sell fizzy drinks.
To absorb the increased cost of doing business, companies large and small will be forced to raise their prices. Already pinched personal bank accounts will be further hammered, as virtually everything is going to cost more.
To absorb the increased cost of doing business, companies large and small will be forced to raise their prices. Already pinched personal bank accounts will be further hammered, as virtually everything is going to cost more.
The Kerry-Lieberman bill is also a job-killer. To meet the demands of the new emissions limits, the few manufacturing businesses that remain in the United States will be further shipped overseas.
This is a part of an elitist plan to redistribute America's wealth abroad. In other words, this legislation will purposefully execute the loss of well-paying domestic jobs, so that those in third world and underdeveloped nations have a chance to improve their standard of living -- at our expense."
This is a part of an elitist plan to redistribute America's wealth abroad. In other words, this legislation will purposefully execute the loss of well-paying domestic jobs, so that those in third world and underdeveloped nations have a chance to improve their standard of living -- at our expense."
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