During the 2009 Offshore Technology Conference yesterday a lengthy panel took place to discuss meeting America’s energy challenges in both the near and the long term. The list of the panelists can be found below. Although not everyone came out and said it, a number of the panelists concluded a price on carbon was necessary. Marvin Odum, President of Shell Oil, was the first to come out and say it. While he acknowledged it will cost energy prices to rise, he supported cap-and-trade legislation that would reduce carbon dioxide reduction. …
Global warming skeptics are quick to point out the exorbitant costs of global warming legislation because they are, well, exorbitant. The $1.9 trillion of tax revenue generated over eight years from a cap-and-trade bill would still be larger than the $1.5 trillion from NASA, the New Deal, and Hurricane Katrina. It amounts to a nearly $2,000 tax every year for every American household. Projected job losses that would have resulted from the Lieberman-Warner cap and trade would have surpassed 900,000 in some years. But if it saves the planet, isn’t …
On April 20, President Obama called for $100 million in budget cuts after announcing spending increases of $4 trillion. Heritage Senior Policy Analyst Brian Riedl breaks it down nicely: • It is 1/40,000 of the federal budget; • It is 1/7,830 the size of the recent “stimulus” bill; • It would close 1/1,845 of this year’s budget deficit; • It is the amount the federal government spends every 13 minutes; and • For a family earning $40,000 annually, it is the equivalent of cutting $1 from their family budget. But …
Cap and Trade Top Ten List 1. Cap and Trade Is a Massive Energy Tax 2. It Will Not Make A Substantive Impact on the Environment 3. It Will Kill Jobs 4. It Will Cause Electricity Bills and Gas Prices to Sharply Increase 5. It Will Outsource Manufacturing Jobs and Hurt Free Trade 6. It Will Make You Choose Between Energy, Groceries, Clothing or Haircuts. 7. It Will Be Highly Susceptible to Fraud and Corruption 8. It Will Hurt Senior Citizens, the Poor, and the Unemployed the Worst 9. It Will …
Policymakers in Washington want to dramatically change America’s energy policy by regulating carbon dioxide emissions. Their most popular idea, included in the Waxman-Markey 2009 energy bill, is a cap and trade proposal. Many Americans find the debate in Washington over adopting a cap-and-trade program to reduce carbon dioxide a bit confusing. It works like this: Policymakers set a cap on the amount of carbon dioxide and other greenhouse gases that can be omitted into the atmosphere. Each power plant, factory, refinery, and other regulated entity will be allocated allowances (rights …
Republicans and Democrats alike are voicing their concerns over the Clean Energy and Security Act that includes a renewable portfolio standard, federal spending for clean energy technology, and above all else, a cap-and-tax program that would attempt to reduce carbon dioxide emissions. Introduced by Chairman Henry Waxman (D–CA) of the House Energy and Commerce Committee and Chairman Edward Markey (D–MA) of the House Energy and Environment Subcommittee, the bill would have devastating long-term economic effects, which in turn, is causing Members of Congress from both sides of the aisle to …
This week, beginning today, Waxman and Markey are holding Congressional hearings to discuss the draft of a massive energy bill that includes clean energy investment, energy efficiency mandates, a cap-and-trade program, and protectionist policies that will supposedly help the consumer cope with higher energy prices. The logic behind the hearing process is to gather experts to help inform legislators about the impact of their efforts. This is a worthwhile and laudable goal, to be sure, but the reality is often very different. Unfortunately, the hearing process is often hijacked by …
