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  • Morning Bell: The Costs and Benefits of Waxman-Markey

    Today the House Energy and Commerce Committee will begin a multi-day markup on the Waxman-Markey energy tax bill. Committee Chairman Henry Waxman (D-CA) has been busy lobbying his own caucus for the necessary 30 votes to get the bill out of committee for weeks, but the bill’s fate is still in doubt. Considering that global warming legislation is a cornerstone of President Barack Obama’s agenda (he needs the tax revenues to fund his other big spending priorities), why can’t the Obama administration convince their own party that their energy tax is a good deal for the American people?

    First let’s look at the economic costs of Waxman-Markey. Waxman-Markey attempts to limit greenhouse gas emissions by making it more expensive for greenhouse gas emitters to operate. Instead of a direct tax on greenhouse emissions, Waxman-Markey issues permits (mostly for free but some at a price paid to the federal government) that allow businesses to emit greenhouse gasses. Businesses that fail to lobby the federal government for enough permits to cover their current emission levels will then have to buy them from either the federal government or other businesses that have better lobbyists in Washington, DC.

    The net effect of these permits is higher costs for businesses and consumers that emit greenhouse gasses, the most prevalent being CO2. As then-candidate Barack Obama explained to the San Francisco Chronicle, this policy will cause electricity prices to “skyrocket.” Since everything you consume requires energy, the higher energy costs caused by Waxman-Markey will spread throughout the entire economy. The Heritage Foundation’s Center for Data Analysis has crunched the numbers and found that by 2035, last week’s version of Waxman-Markey would: 1) reduce aggregate gross domestic product (GDP) by $7.4 trillion; 2) destroy 844,000 jobs on average; and 3) raise an average family’s annual energy bill by $1,500.  And this week’s version of the bill appears to have an even greater catastrophic effect on the economy.

    That’s a pretty steep cost. So what do Americans get for being $7.4 trillion poorer in 2035? Other environmental legislation has helped reduce acid rain and slow the growth of asthma, so Waxman-Markey must offer some tangible benefits to the American people right? Wrong. Waxman-Markey is a truly unique piece of environmental legislation in that it does not offer a single tangible benefit to the American people.

    Global warming is just that: global. The United States still has the largest economy in the world, but China is now the world’s largest emitter of greenhouse gasses. India also has a rapidly growing economy and neither they, nor China, have any plans to reduce their carbon emissions. So, using the left’s own global warming theory, how much would Waxman-Markey actually cool the earth? Climatologist Chip Knappenberger crunched the numbers and found that even the strictest version of Waxman-Markey would reduce projected global temperatures by just 0.044ºC by 2050. That is less than one-tenth of one degree.

    So as this week progresses, and you hear scary story after scary story of all the hurricanes, wildfires, and flooding that will occur because of global warming, remember this: according to the left’s own computer models Waxman-Markey would not prevent any of it.

    Quick Hits:

    • Minority Leader John Boehner (R-OH) is calling on Speaker Nancy Pelosi (D-CA) “to either present the evidence or apologize” in the wake of her comments that CIA officials misled her about the use of controversial interrogation techniques on terrorist suspects.
    • Members of Congress have been told in confidential briefings that Pakistan is rapidly adding to its nuclear arsenal even while racked by insurgency.
    • Heritage fellow James Carafano calls for a joint “threat assessment” of the security challenges U.S. and Canada face on our northern border.
    • A new global warming study cuts in half the worst-case sea rise scenario.
    • California voters will go to the polls tomorrow to decide the fate of six budget-related ballot measures that will raise taxes to close California’s $42 billion budget deficit.
    Posted in Ongoing Priorities [slideshow_deploy]

    39 Responses to Morning Bell: The Costs and Benefits of Waxman-Markey

    1. Todd, NC says:

      This isn't about reducing "global warming" which in itself is a fraud. It's about how to extract even more tax dollars from the American taxpayer. We need to throw these crooks out of Washington before they totally destroy the country!

    2. Ken Jarvis - Las Veg says:

      I started a Topic on Facebook at
      http://www.facebook.com/topic.php?topic=9656&…
      Where I will post Comments

      and my take on them.

    3. Ken Jarvis - Las Veg says:

      "Minority Leader John Boehner (R-OH) is calling on Speaker Nancy Pelosi (D-CA) “to either present the evidence or apologize” in the wake of her comments that CIA officials misled her about the use of controversial interrogation techniques on terrorist suspects."

      Typical GOP Spin

      the REAL SUBJECT IS ABOUT TORTURE

      AND BuSh AND CHENEY.

    4. Margaret, Roseville says:

      Obama is attempting to execute every hippie pipe-dream "solution" that was ever touted in academia in the seventies. Some of us were able to extrapolate those "solutions" to their logical conclusion: higher costs for food, energy and everything else, massive job losses, and the destruction of the nation's economy. For the mentors of Barack Obama (Bill Ayers, et. al.) thought it either justice for the nation to suffer like a third-world country, or just didn't think that far ahead. Too bad SNL doesn't do a bit on Barack & Co. inhaling and tripping out on some of these "solutions" while others (not stoned)talk about higher costs, job losses and the effect on the nation. It could be funny, but it would also be truth — AND THAT'S HOW YOU GET PEOPLE TO understand what is happening in our country.

    5. Jonathan Seid, Willi says:

      Democrats will not let facts interfere with their opinion on taxing citizens. Just the idea of a tax on weather is too rich for them to pass on when there are so many citizens in need of government's largesse. The trillions of dollars needed to control global warming is a ruse to take more of our money. And they will get that money and the weather will do what it always does: c h a n g e.

    6. Steve, Michigan says:

      It is a win/win for the statists. If the economy doesn't totally collapse, the government reaps the taxes. If it does collapse, the resulting economic chaos will allow for more panic driven government "solutions." Never mind whether the environment is better off.

    7. Nelia, Fountain Hill says:

      It is extreme arrogance to consider man has any control over climate change. From ice ages to warming trends, neither have been the result of man's doings. Cleaner air to breathe is another matter, and being addressed in the USA.

      With a mainstream media touting whatever the left promotes, the messages reaching the general public are hardly fair or truthful. Write your people in congress!! They don't respond?….vote them out. In my state, it's time for McCain to go.

    8. John, Richmond, Va. says:

      There is no global warming. Why not begin the discussion there?

    9. Jake AZ says:

      obama wants fair, obama doesn't know fair he has been on government dole all his life. There is NO common ground obama here. There isn't a darn thing that is FAIR with obama , schummmmmmmmer, dodd, frank, reid, peloski, waxman, kerry, kennedy and the DEMOCRATS RAPING the middle class hardworking TAXPAyers with ARRA(America Rape and Reaping ACT).

      We have had all the MARXIST FAIR we can stand.

      I worked for a fertilizer company once that the owner during Jimmy Carter high inflation years kept telling the agronomist that our prices were FAIR. I kept asking in meeting when you 15% higher then the competition FAIR to who Jerry it isn't the FARMERS. After 3 months of this bs, I left and went to work for companies that competed and 2 years later the FAIR PRICED Jerry went bankrupt.

      ARRA stole thats right it was a theft of taxpayers money to give to obama and his government dole buddies of taxpayers money.

      We have to stop this madman and his thugs before they destroy all the middle class hardworking taxpayers.

      We will throw the thugs out in 2010 and the head thug out in 2012 and he can take his lying foney FAIR with him.

      When I hear FAIR I know I better keep my backside covered because there is a thug that is a dirty fighter and speaks with fork tongue.

    10. Pete Kleff, Cypress, says:

      Global warming as used in the political arena is premised upon the hypothesis that activities of man cause the phenomenon. Those that advocate that position fail to support the hypothesis with adequate science. Innumerable scientists oppose the hypothesis with more than adequate and impressive science. Yet the latter are more often than not dismissed as fringe. The issue is not scientific, it is political. So "pro-global warming" advocates can easily ignore the fact that for nearly a decade there has been a global cooling trend, indubitably caused by global warming. Ah, the vicissitudes of science!

    11. Dennis A. Social Cir says:

      This is just another way for the bama clan to get what they want, more taxes. I am all for cleaning up the environment, but lets do it in a way that does not bankrupt this country and our citizens. The dems are single minded, they smell taxes and spending that will stop this country in its tarcks, and if the people do not wake up they will get their way. The USA will become the SRA-SOCIALIST REPUBLIC OF AMERICAN.

    12. NYstatehome says:

      My opinion is that most of these political crooks need to go, in both parties, clean house. These people have been there too long. They vote by what will give them more money and power. Start a serious conversation about term limits. When a government becomes too big, it also means it can get out of control. We don't need to legislate every aspect of our lives, from the same millionaires that control our economy never had to balance a checkbook. Wer also don't need to legislate free will.

    13. Diane W., Rochester, says:

      Sure wish we'd get a little global warming here in NH–shoveling snow and chipping ice get old real fast. Will the airlines and NASA have to get permits? After all they are large contributors to the greenhouse gas problem. If it wasn't for this global warming sham, Al Gore wouldn't have a job.

      Let the Democrats take care of Pelosi. Every time she has a news conference she tightens the noose around her own neck, and it was the Democrat head of the CIA that responded to her attack. The Republicans should stay out of it.

    14. David Sayers, NC says:

      It'a all a bunch of bull crap. Global warming only exsist in the mind of Algore and his followers. Taxing carbon? What's the science behind this one? Is China,India and the rest of the world participating? Waxman and the rest of the rip-off artist in Washington should be under investigation for scamming the American public. It's ok to create carbon, you just have to pay to do it. Wow,that fixes everything. Lets get these morons out before we all die of frustration. And Komrade Ken, you don't have a clue to what torture really is,ask some WW2 vets that were held by the japanese and you might have a different take.

    15. Eugene Hoffman, Hous says:

      It is the almost imperceptible fluctuations of the Earth's orbit around the sun, coupled with the perturbations of the earth on its own axis and natural events such as volcanic eruptions that influence temperature of the planet. Mankind has little or nothing to do with it. This is another way into my wallet.

    16. AntonioSosa, Florida says:

      We pray that honest Democrats and Republicans are able to save us from Obama's criminal global warming/cap and trade scam.

      Cap and Trade “would be the equivalent of an atomic bomb directed at the U.S. economy—all without any scientific justification,” says famed climatologist Dr. S. Fred Singer. It would significantly increase taxes and the cost of energy, forcing many companies to close, thus increasing unemployment, poverty and dependence.

      More and more scientists and thinking people all over the world are realizing that man-made global warming is a hoax that threatens our future and the future of our children. More than 700 international scientists dissent over man-made global warming claims. They are now more than 13 times the number of UN scientists (52) who authored the media-hyped IPCC 2007 Summary for Policymakers. http://www.climatechangefraud.com/content/view/35

      Additionally, more than 30,000 American scientists have signed onto a petition that states, "There is no convincing scientific evidence that human release of carbon dioxide, methane, or other greenhouse gases is causing or will, in the foreseeable future, cause catastrophic heating of the Earth's atmosphere and disruption of the Earth's climate." http://www.petitionproject.org

    17. Ron Thompson says:

      In true fashion, when the Democrat's want something they have it there way! No meaningful discussion covering both sides of the issue. Incidents such as; not allowing opponents of Al Gore to speak, for fear of embarassment for Al Gore. In the face of facts, they turn the other way. The one question I have for global warming advocates is; how are you going to stop volcano's from erupting, because it have been proven that it raises the temperature of the atmosphere by as much as 1 degree, for several months. now compare that to the ridiculous, miniscule supposed raise with man made warming…doesn't hold a candle and is pathetic! I'm sure we all have enough money to pay more in taxes on items such as this! Why isn't waxman and company cutting their pay to cover the issue.

    18. Dorothy O'Neal, says:

      To Nelia in Fountain Hills, Az. I most heartily agree that McCain must go. His arragance is hardly to believe. Our country is in its death throes and it is hard to believe that most people have no idea as they are so busy worshipping at the altar of Obama and the left.

    19. Truth Hurts, The Rea says:

      Is stupid a disease that is in the halls of the white house and congress.Or as Mark Twain said " what if you were a idiot . what if you were a member of congress.But then I repeat myself."Perhaps we should have bars on the white house and congress because that's where our greatest criminals are! Stealing the Freedom,Wealth and Heritage of Us the people they were elected to resent.Is it possible to tax a free nation and people into slavery?How much of The Constitution and Amendments do they plan on violating before We take back our Democracy and get rid of the ones who think We elected them Kings ,Princes and Princess?

    20. Ben C, Ann Arbor, MI says:

      Typical GOP Spin

      the REAL SUBJECT IS ABOUT TORTURE

      AND BuSh AND CHENEY.

      So, Mr Jarvis from Las Vegas. How would question the bad guys? Offer them tea and crumpets? Ask Mr Perlman about torture – oh wait, he had his head removed from his body by the bad guys. The guys that were waterboarded are still alive and doing well in Gitmo Hilton. I am so glad YOU were not president immediately followin 911 otherwise Los Angeles would have also been hit. If it is a politician and their lips are moving they are lying. Pelosi included.

    21. sharon layman ches says:

      how come none of these yahoos talk about exhaust from all the airplanes ?we hould tax all senators and congressman double and take away their health insurance. term limits

    22. William Streed says:

      Health care reform is the burr under the saddle of everyone if the Washington crowd passes some bill. I suggest that one should look at the website http://www.polymedic.info or request the paper"The cost of hospital care can be reduced; seven years of results are proof: Solutions will be found in the free thinking of people who have never been to Washington

    23. Lee-White Tanks AZ says:

      If the American people cannot recognize a SCAM of the scope and dimensions of the ALGORIAN Global Warming aka Climate Change HOAX and do something about it, we have no one to blame when the bills come due. It is also an apex of hypocrisy to expect other countries to follow our ridiculous lead.

      Emerging nations and economies know without a doubt that "inexpensive and abundant energy" is an absolute necessity for their growth and the wellbeing of their people. Somehow we have let a completely runaway element of our body politic take the lead in destroying our ability to grow and compete as we always have. It is being done by "strangling" our energy producers in layer upon layer of absurd regulations and now adding a new tax with no other goal than to further reduce and cripple our economic engine.

      I find it completely acceptable that China and India tell the rest of the world to "get lost" as far as their use of "Carbon" based fuel for their energy needs.

      We continue on this insane path of environmental nihilism and the end result will be a new "dark age" for western civilization. There are things being set in motion by our "leaders" that are virtually irreversible.

      Economic policy wedded to bad science and huge segments or our economic engine, Health Care, Finance, Wall Street, Energy and all Education being "nationalized" are just the beginnings of a total takeover by the state and the triumph of Mussolini Corporate Fascism abetted by Alinsky inspired Hitlerian Nazism in our urban centers.

      PC is Thought Control

      LEE

      Footnote: Does no one remember their high school science and something called "The Carbon Cycle". Oxygen and CO2 are fundamental to life on this planet. Our piddling in natures yard will have consequences.

    24. cynthia overland (tr says:

      I am not a scientist, only a teacher. But if the threat of "global warming" is the emission of CO2 (carbon dioxide), and trees use CO2 as energy and release oxygen–why dont we start a global iniative to plant millions of trees. For every tree a company cuts down, they have to plant 10 to replace it. Oh, wait a minute. That's right! That's way too simple and MY GOSH! the government is denied hundreds of billions of taxes to fund the socialist agenda to try and keep us all dependent on Daddy Government. Excuse me!

    25. Helen WA says:

      AlGore is the most self-serving politician of our time…..he's made millions from the lie. The rest of the Dems truly admire his ability to lie with a straight face….Pelosi is envious, I'll bet!

      When Gore lied…the rest swore to it.

      When Pelosi lied, they were silent.

      Hey….America is catching on!!!!

    26. Mike Sheahen, Hickor says:

      Again, how many times must it be pointed out that to the Left the facts don't count, only their Leftist Marxist Communist/Socialist government elitist and statist power and money-grabbing agenda counts?

      That's it…that's what it comes down to, as exposed, proven, and shown by both the facts in the real world, and even the Left's so-called "environmentalist" freedom and economy destroying government power and money-grabbing antics and machinations which are all so very revealingly like that of an infinitesimal self-centered gnat with a hugely flatulent ego, insisting upon its' self-centered power and influence, no matter how the Earth, the Sun, the facts, and anything and anyone else disproves such insistence.

      In fact, do your own homework and you also will find that it is because of that disproving and revealing that the Left is increasingly engaging in ever more deceitful, misleading, and even desperate efforts to bury any and all evidence to the contrary, squelch anybody and everybody speaking it, and so act against our Constitutional freedoms and principles of limited government and free people, all for the sake of their Leftist government elitist and statist power and money-grabbing agenda.

      Indeed you will find it no wonder that to the Left the facts don't count, only their Leftist government elitist and statist power and money-grabbing agenda counts, which is evident in, (but certainly not limited to), their deceitful and misleading freedom, prosperity, job and economy destroying stealth tax, etc, in their "Waxman-Markey" government power and money-grab, the effects of which will again hurt everyone and hurt "the poor" the most, and so again show and prove how such Leftist antics and machinations have practically nothing to do with the environment and everything to do with their Leftist government elitist and statist power and money-grabbing, government dependence promoting and dependant voter creating agenda.

    27. Bill Valparaiso, In says:

      How stupid are we that we allow congress to enact this type of legislation ?

    28. ella quinn kinston n says:

      Al gore needs to work in the tobacco fiels like i did 50 years ago and see how hot it was.We were hot.Global warming is not happening, it is a money racket for algore.He and nancy p. are full of it.

    29. John Canada says:

      Criminal simply criminal to expect such a high cost with such little gain… What is the point or am I missing the point?

    30. Wallyblu, Zion, IL says:

      If you are worried about storms and climatic violence you should want to increase the earth's temperature because historically the warmest periods of th earths history have had the calmest weather on record.

    31. Wallyblu, Zion, IL says:

      Oh by the way. If you get a chance ask Al Gore just what is the ideal percentage of CO2 in the atmosphere.

    32. Pingback: » Financial News Update - 05/18/09 NoisyRoom.net: “Extremism in the defense of liberty is no vice. Moderation in the face of tyranny is no virtue.” Barry Goldwater

    33. Tony Favero, Half Mo says:

      Concerning global warming, the minuscule quantity of CO2 present (less than 4/100ths of 1%) in the atmosphere is of little concern as research reveals increasing amounts of CO2 to be self limiting. Numerous lab experiments with atmospheres lacking CO2 start out cold then rise in temperature as CO2 is added in small increments; this temperature boost, while quite swift initially, levels out despite ever expanding concentrations of CO2. North Dakota State climatologist John Bluemle states that “Doubling CO2 from today’s concentration, with other parameters constant, has a negligible effect”; Bluemle, is one of many climatologists disagreeing with humanity’s significant impact to global warming as do the 17,000 scientists that signed the “Oregon petition”, an anti-Kyoto petition. Of these signatories, over 2,600 possessed climate science credentials, scarcely a ringing endorsement of general agreement supporting global warming anxiety.

      Climate scientists voicing rational dissenting opinions to man’s contributions to global warming are stifled by the dominant media and majority of academia, both afflicted with similar ideologies. Tenure and research funds are routinely denied to numerous dissenting climatologists for the same reason, among others, that the media continues to tout the global warming hysteria, “if it bleeds it leads”.

      Such isolation of dissenting opinions imperil a healthy and necessary peer-review system, while Washington continues to advance a political and euphemistically described ‘cap and trade’ scheme more precisely termed ‘cap and tax’. Such a contrivance pertains to all carbon based fuels and will certainly double your monthly fuel bills in a year or two if passed. Change anyone?

    34. Steven Gouveia, Waip says:

      The Waxman-Markey is a diversion from the real issue and that is an increase in HYDRO-ELECTRIC PLANTS in Asia,(China, India) and in (Costa Rica, Chile, Brazil)South America. The history of the United States and Canada is marked by hydro-electric activity.

      Hydro-electric plants cause "climate change"! The large dark surface of the man-made lake causes an increase in evaporation adding more of the greenhouse gas water-vapor into the atmosphere affecting weather patterns. Coal burning plants and other energy producing plants use cooling towers to reduce the amount of heated water-vapor released into the environment.

      Hydro-electric plants restrict the flow of freshwater into the oceans. Some plants near arctic regions which would have a direct effect on ice formations. The oceans will get warmer!

      The natural flow of freshwater into the oceans adds oxygen and other minerals used by coastal ecological areas. [where most sea life exists]Reduce the nutrients and less life can be supported. The Dead zone of ocean increases!

      The natural flow of a river prevents the ocean from traveling too far inland during high tides. Disrupt the flow and now coastal flooding during normal high tides will occur. The ocean level will rise!

      Gases dissolve differently in the deep substrata of the water column then at the surface. Decaying vegetation in deep sections of dam will produce CO2 and other gases. There also is a possibility of mercury being produced. When the water exits the dam, dissolved gases may contaminate discharged water with bacterium or discharge gases into atmosphere.

      Dams will prevent erosion and provide necessary irrigation to farms without polluting man-made lake or other water sources. In the United States, the EPA has not been able to prevent irrigation pollution from fertilizers and sewage, soil erosion is reduced but that is usually after an incident and soil conservation is gradually forgotten until the next disaster.

      Keeping the water from going stagnant and becoming a disease incubator is another real issue. Loss of fish species in man-made lakes is another issue.

      Reducing factory CO2 emissions will NOT address climate change or global warming! Implementing new strategies for dealing with the environmental impact of hydro-electric plants may solve our global warming crisis at the source.

      If you are worried about CO2 levels just drink more carbonated soft drinks. CO2 is extracted and stored before bottling; making more soft drinks could delay the CO2 from re-entering atmosphere buying us time! Then again if soft drinks get taxed then consumption will be down. I want Coca Cola and Pepsi to get credit for removing CO2 from the atmosphere. A lot of the scientific community hate soft drink manufacturers for ruining people's health. So this won't please them.

      I have more to say but I'll leave it at that. Please look up the facts for yourself. The founder of the Sierra Club was on to this and I do not see that much objection to hydro-electric development. Have they changed their stance on this issue?

    35. daka-dave, Arlington says:

      Will The Sierra Club pay the fine for all the CO2 they cause?

      I would be okay with all this if The Sierra Club paid the fine for causing over 50% of all CO2 emissions in the USA. Forrest fires in California alone emit more CO2 than all man made causes combined every year. The timber industry could cut fire breaks in our national forests and we could cut CO2 emissions in half. Sadly, since The Sierra Club owns more politicians than the timber industry, this will not occur.

    36. Tony Favero, Half Mo says:

      Global warming hysteria fuels the fears of all the Chicken Littlies while attacking a sizeable number of reputable climate scientists who fail to fall in-line with to what amounts to a modern day inquisition that denies nonconforming climate scientists tenure, research funds and employment; a fear driven by ideology, not science.

      Global warming, with many small warming and cooling cycles, has been around for about 18,000 years or since the last ice age with sea levels rising 400 feet from that time to present. As little as 9,000 years ago, one could walk from what is now England to France with trifling concern for wet feet.

      Some math, 400 foot sea level rise translates to 4800 inches total in 180 centuries for an average 26.7 inches of sea level rise per century…..a rise commensurate with many estimates of the global warming hysteria crowd.

      Consider Michael Crichton’s analogy in his book “State of Fear”

      (My Paraphrase)….

      Imagine the composition of the Earth’s atmosphere as a football field. Nitrogen, most of the atmosphere, takes you to the 78 yard line, adding oxygen advances you to the 99 yard line. Most of what remains is the inert gas argon that brings you within 3.5 inches of the goal line. The remaining amount that is CO2 is one inch with man’s contribution to CO2 in 50 years adding up to three-eights of that inch. Yet you are asked to believe that this tiny change has driven the entire planet into a dangerous warming pattern.

    37. Pingback: House passes huge middle-class tax hike « America, You Asked For It!

    38. Pingback: Morning Bell: Avoid California’s Mistakes | The Foundry: Conservative Policy News.

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