Beam me to Planet Gore !
Posted on 07/03/2009 5:58:43 AM PDT by reaganaut1
President Obama is calling the climate bill that the House passed last week an "extraordinary" achievement, and so it is. The 1,200-page wonder manages the supreme feat of being both hugely expensive while doing almost nothing to reduce carbon emissions.
The Washington press corps is playing the bill's 219-212 passage as a political triumph, even though one of five Democrats voted against it. The real story is what Speaker Nancy Pelosi, House baron Henry Waxman and the President himself had to concede to secure even that eyelash margin among the House's liberal majority. Not even Tom DeLay would have imagined the extravaganza of log-rolling, vote-buying, outright corporate bribes, side deals, subsidies and policy loopholes. Every green goal, even taken on its own terms, was watered down or given up for the sake of political rents.
Begin with the supposed point of the exercise -- i.e., creating an artificial scarcity of carbon in the name of climate change. The House trimmed Mr. Obama's favored 25% reduction by 2020 to 17% in order to win over Democrats leery of imposing a huge upfront tax on their constituents; then they raised the reduction to 83% in the out-years to placate the greens. Even that 17% is not binding, since it would be largely reached with so-called offsets, through which some businesses subsidize others to make emissions reductions that probably would have happened anyway.
Even if the law works as intended, over the next decade or two real U.S. greenhouse emissions might be reduced by 2% compared to business as usual. However, consumers would still face higher prices for electric power, transportation and most goods and services as this inefficient and indirect tax flowed down the energy chain.
(Excerpt) Read more at online.wsj.com ...
BTTT
The liberal elite, coupled with their enviro-nazi useful idiots, will say anything and make up anything (regardless of how rediculous) they can to advance their socialistic/marxistic causes.
That's what Cap & Trade is all about. Power and control.
THE AUDACITY OF TRUTH ABOUT BARACK HUSSEIN OBAMA
BARACK HUSSEIN OBAMA IN HIS OWN WORDS
NOW WE KNOW WHAT A COMMUNITY ORGANIZER DOES
THE AUDACITY OF TRUTH ABOUT BARACK HUSSEIN OBAMA'S UPBRINGING
Wonder how Obama voters feel about him going after the EVIL RICH people now?.
The only thing that this will accomplish is more opportunities for Big Corruption and Liberals getting RICH.
Case in point, ENRON became a huge corrupt monster through the trading of “Sulfur Emmission Credits”, forced by the Clean Air Act.
We all know how that turned out.
Yep, it’s going to the money made in high energy rates to give to low income to pay for their high energy rates, so essentially, the working will be paying for somebody else’s utility bill, which is going to pay Al Gore’s carbon trading company
Gore Invests In Carbon Credit Company, Will Media Care?
June 4, 2008
Generation Investment Management, the private equity fund chaired by former U.S. vice president Al Gore, has acquired a 9.5 percent stake in Camco International Ltd, a carbon asset developer.
Generation, set up in 2004 by Gore and David Blood, former chief of Goldman Sachs’s asset management arm, now holds 16 million Camco shares, Camco said in a statement.
Camco, which has one of the world’s largest carbon credit portfolios, works with companies to identify and develop projects that reduce greenhouse gas emissions and then arranges the sale and delivery of carbon credits.
Also interesting was Gore’s support of this bill posted at the Senate’s Environment & Public Works website Monday:
“I want to commend Senator Boxer for her leadership of the Environment and Public Works Committee. Thanks to her vision and dedication, we have the first global warming bill in history that is comprehensive, bipartisan and that enjoys support across the country—from labor and agriculture to the business and the environmental communities. Of course the bill needs to be stronger, but it’s vital that Congress begin to act. While it’s important that people change their light bulbs, it’s even more important that we change the laws.”
Add it all up, and Gore’s investment company now definitely DOES have a stake in carbon trading, and, therefore, additional financial incentive for the Nobel Laureate to spread global warming alarmism which results in government enacted legislation to counter it.
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