Carbon Capping – The Costliest Part of A Costly Speech
Posted February 25th, 2009 at 1:30pm in Energy and Environment 
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So I ask this Congress to send me legislation that places a market-based cap on carbon pollution and drives the production of more renewable energy in America.
It was a fairly innocuous sounding request in President Barack Obama’s speech, but it would cost more than anything else he mentioned. That’s saying a lot, since the speech contained a number of expensive promises, including a big budget coming on the heels of the colossal stimulus package.
But, beyond the impacts of a bloated annual budget, a global warming cap and trade bill to would fundamentally weaken the economy for decades by placing limits on fossil fuel use- the coal, oil, and natural gas that currently provides 85 percent of America’s energy. And despite President Obama’s lofty talk about wind turbines and solar panels (which after decades of federal handouts provide less than 2 percent of our electricity), there is no way to quickly move away from these energy sources without serious economic disruption. In effect, a carbon cap and trade bill acts like an energy tax, raising the cost of energy so individuals and businesses are forced to use less.
The administration admits as much, assuming up to $300 billion in annual revenues raised from cap and trade in the upcoming budget. But this is not money that drops out of the sky. It is revenues raised by businesses having to pay the government for the right to use energy, making it more expensive. A Heritage Foundation analysis of the 2008 Lieberman-Warner cap and trade bill estimated that it would reduce cumulative GDP by up to 5 trillion dollars, cost many hundreds of thousands of jobs, and raise gasoline and other energy prices by 30 percent.
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4 Responses to “Carbon Capping – The Costliest Part of A Costly Speech”
Rod Evans, Greenville, TX on February 25th, 2009 at 1:30pm said:
Wind turbines and solar panels are not now and probably never can be primary power resources. They are only supplementary sources, providing unpredictable power during a minor portion of the time power is required. To accomodate a greater percentage of usage will require a currently nonexisting storage medium to store power for periods of insufficient operation. This projects to be very expensive and overall an inefficient system.
Cecilia Gottfried, Atascadero, CA on February 25th, 2009 at 1:30pm said:
Thank you for educating us on what is in this stimulus. People all around me are frustrated and upset with the arrogance our President has and his smooth way of punishing hard workers. We are self-employed and pay for our own health insurance and teach our kids to be self-reliant. We tell them that nothing is free. But yet we have the President of the United States telling them everything is free. There will, be a revolution soon. Americans will not be pushed back from pursuing their goals and dreams. Most of all they will not be pushed into unemployment lines and footing the bill for the lazy and illegals. Thanks Again for your diligence in educating us with the truth. God Bless you.
The Conservative Resistance, CA on February 25th, 2009 at 1:30pm said:
Comrade Obama, 2. America’s future, 0. So far.
We’re going to see the end of our country as we know it by the end of the year, if not by summer.
Congratulations, Obama voters. Change your children will hate you for.
The Conservative Resistance
http://poorrepublican.today.com
http://www.associatedcontent.com/user/433943/the_conservative_resistance.html
Barb -mn on February 25th, 2009 at 1:30pm said:
Why is there no mention of a man that respects the principles of America and what it takes to be an American. His family endured the hardships as they worked for their independence and did for themselves. A man that lives and leads by example to all Americans and immigrants to America. (Thank you and your family for what beautiful people you are). He respects Americans and the culture of freedom it provides. He accepts the fact that he is accepted. Unlike the democrats accusing racism by taking the definition out of context. Unless the government is lawfully conducting racism,(which they are and violation to the constitution), any citizen in this country
has the freedom to feel anyway they want under civil law!
How about this slogan: BOBBY: A PRESIDENT NOT: FOR THE SOCIALISM, OF THE COMMUNISM BY THE DICTATORSHIP. NOPE! IT’S BOBBY:
FOR THE PEOPLE, OF THE PEOPLE, AND BY THE PEOPLE…
WE LOVE YOU BOBBY! YOU SHOW AMERICANS WE ALL HAVE THE STRENGTH. YOU HAVE FAITH IN US! THE PEOPLE. The total opposite of the leadership today. BOBBY JINDAL, PRESIDENT OF AMERICA??
SARA PALIN – VP – what a team of strength!!!!