Posted on 06/27/2009 2:14:04 PM PDT by 2ndDivisionVet
The sweeping energy and global warming bill passed by the House on Friday was as complicated as it was contentious. The measure started the day at 1,200 pages -- and that was before lawmakers adopted a 300-page amendment. Here is a slimmed-down look:
What are the bill's major features?
The centerpiece is a "cap and trade" provision that sets limits on the greenhouse gas emissions scientists blame for global warming. The goal is to reduce emissions to 17% below 2005 levels by 2020 and more than 80% below 2005 levels by 2050.
How would that work?
The bill would create a system for buying and selling emission permits that give the bearer the right to send carbon dioxide or other greenhouse gases into the atmosphere. Major sources of those gases, such as power plants and factories, would need to obtain enough permits to cover their emissions. Or they would need to cover their emissions with "offsets" -- measures, such as planting trees, that scrub carbon dioxide from the sky.
Would those permits cost anything?
No, not at first, at least not for most emitters. As part of a series of deals to attract congressional votes, lawmakers agreed to give most permits away free at the start. Eventually, the government will sell them at auction.
Anything else big in the bill?
There's a lot. The bill requires states to generate an increasing portion of their electricity from renewable sources -- most notably wind and solar energy -- topping out at a 20% requirement in 2020. States could account for some of that target through energy efficiency.
Other portions of the bill would set strict efficiency requirements that the government projects would dramatically curb American energy use.
(Excerpt) Read more at latimes.com ...
Is there any reason why Pelosi should not be jailed?
This is fraud.
Interestingly enough, the companies that get these carbon credits for "free" are the same companies whose stock owners include the Congress-people who voted for the legislation. Those without political connections will have to buy them at auction or buy them from the Pelosi-owned companies.
Wow, what an incredible coincidence.
So are we now reduced to a government where bribery is legal if it occurs out in the open?
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