March 31st 2009
Dem Insanity Continues
I
t’s as if the economy were robust, spewing out money to burn. It’s like everyone agreed there was an imminent threat of global environmental collapse because of human activity. It’s as if everyone was eagerly awaiting higher costs to everything.
It’s as if the Dems didn’t have a brain in their heads:
House Democratic leaders unveiled a sweeping plan to fight climate change and boost renewable energy this morning, including mandates for renewable electricity nationwide and a market-based system for reducing greenhouse gas emissions.
The plan … is a “discussion draft” authored by Rep. Henry Waxman (D- Beverly Hills), the committee chairman, and Rep. Edward J. Markey (D-Mass.), who chairs the House Select Committee for Energy Independence and Global Warming. Among the bill’s provisions:
* A nationwide mandate for renewable energy — such as wind, solar and biomass — in electric power generation, starting at 6% in 2012 and rising to 25% by 2025.
Shall we discuss the cost of developing that infrastructure out of thin air? Or the plausibility of the entire concept? Or the need, considering our coal, oil and natural gas reserves, our hydroelectric capabilities and potential, a nuclear industry just waiting to re-emerge? (All quotes from the LA Times, BTW.)
* A “cap-and-trade” program to restrict greenhouse gas emissions by requiring utilities and other emitters to hold “allowances” for the carbon dioxide they send into the atmosphere. The level of allowances would shrink annually to reduce carbon emissions to 3% below 2005 levels by 2012, to 20% below 2005 levels by 2020 and to 83% below 2005 levels by 2050.
Shall we discuss this a bit? I did with the American Petroleum Institute earlier today, and here’s what the good folks there told me:
API hasn’t taken a position on the topic of cap-and-trade per se, but we have been very outspoken about the potential costs of the cap-and-trade proposal in the administration’s 2010 budget.
Based on the administration’s initial estimate, it appeared the proposal would generate $646 billion in revenues. Our calculations indicate that about 60% of that would come from oil and natural gas, which equates to about $400 billion. Later administration estimates indicated that the revenues could be three times the $646 billion figure, so it appears the burden on this industry – and on consumers – could be much higher than originally anticipated.
You’d think that before madcap schemes are introduced for discussion, someone somewhere might have a handle on how much destruction the proposal will cause family budgets across America. But really – $646 billion or three times that amount; do we really need either?
* A national standard, akin to California’s, limiting carbon dioxide emissions from vehicles and a new low-carbon fuel standard to further support bio-fuels and low-emission alternatives to gasoline.
Can we discuss this? Is this really what the automobile industry needs right now? Perhaps it would be better to get them back on their feet again before cutting them off at the ankles.
Remember, no alternative technologies are ready for market without cap and trade to penalize existing technologies. They cannot produce enough energy, and they cannot produce it cheaply enough. Cap and trade is just a fancy name for government tromping all over the free market in the name of “saving the planet.”
The planet doesn’t need saving. The economy does. And the free market’s on life support.
P.S.: The LA Times report quoted several environmentalist, most of whom were positively giddy about the day’s development. I sent the reporter this email:
Just read your story and was amazed to find that apparently there wasn’t a single source from industry anywhere for you to get a quote from. Really? Just representatives of environmental groups?
Guess what? No response.
House Democratic leaders unveiled a sweeping plan to fight climate change and boost renewable energy this morning, including mandates for renewable electricity nationwide and a market-based system for reducing greenhouse gas emissions.


Not to put too fine an edge on it, but screw the Muslim-American community in Buffalo and around the United States. Who do they think they are, 


Update 3: The
