April 26, 2010
By Alan Caruba
If you thought that the way the Obama administration and its cohort of Democrats in Congress rammed through the takeover of the nation’s healthcare system was appalling, prepare to watch the same process applied to Cap-and-Trade. Your government no longer represents you, the voter, and the citizen.
Cap-and-Trade (H.R. 2454) is allegedly about reducing greenhouse gas emissions, but there is no scientific justification for this because there is no “global warming” that requires it, nor is manmade, anthropogenic, generation of carbon dioxide (CO2) a threat to the planet. Just the opposite, everything dies without it; all vegetation and all animal life. Life on Earth would thrive if there was even more CO2.
To what end would Congress impose such emission limits when they do not exist throughout China, India, third world “developing” nations, and are being abandoned by European Union nations where the Kyoto Protocol limits have harmed their economies?
Global warming has been exposed as a massive hoax and fraud. Why would the United States Senate proceed to enact a bill based on it? In essence, it will make some corporations, utilities, and people very rich and impoverish the rest of us.
Having already passed the House, on Monday, April 26, the Senate will be handed a huge bill that, like healthcare, few will have read before they vote. It will impose the largest tax the nation has ever seen.
The act will bless the various “exchanges” created for the sale and trade of “carbon credits” that have no value whatever. It creates a bubble comparable to the sub-prime mortgage debacle that triggered the 2008 financial crisis and resulting recession.
The amount of CO2 will not be reduced because the Earth produces 97% of all the CO2 in the atmosphere. Even then, that amount is the smallest part of the atmosphere that consists of more than 95 percent water vapor!
Cap-and-Trade is an act of betrayal because it will destroy the U.S. economy, destroy jobs, and impoverish Americans in a variety of ways.
The Cap-and-Trade Act that has already passed the House will be put in play by Senators John Kerry, Lindsey Graham, and Joseph Lieberman. It was created in the House by Rep. Henry Waxman and Rep. Edward Markey. They know the bill will set in motion the destruction of the nation whose life’s blood is affordable and abundant energy use.
Just as the Obama administration moved swiftly to acquire ownership of General Motors and Chrysler, to take over insurance giant AIG, control one sixth of the nation’s economy through the healthcare act, and is now seeking to expand the regulation of Wall Street, Cap-and-Trade will ensure the destruction of the nation as manufacturing flees to other parts of the world.
Beginning one year after enactment, homeowners will not be able to sell their homes without complying with onerous and unnecessary energy and water “efficiency” standards. These standards, moreover, will increase annually. Within five years, 90 percent of the residential market will be controlled by the government.
On April 19, the Environmental Protection Agency announced new guidelines for “Energy Star” homes requiring them to increase “efficiency” by 20 percent more than those built to the 2009 International Energy Conservation Code. Home ownership, already the largest expense for Americans, will be further increased by required upgrades.
According to the Congressional Budget Office, in a few years the average cost of energy use to every family of four will be $6,800 per year. No one will be exempt from energy taxes and you can expect the cost of a gallon of gasoline to rise beyond $4 to European levels.
In Europe, industrial carbon quotas have enriched the continent’s biggest energy users such as steel and cement makers. Their surplus carbon permits, often provided for free, are estimated to be worth more than $4 billion at current market rates by 2012. There is no scientific justification for them.
It will be the U.S. government that will determine who receives the initial free “carbon credits,” thus giving corporations that have supported Cap-and-Trade a huge advantage over those who do not. Not only will the government rake in billions from the taxes to be imposed, but utilities will raise their prices and pass it along to consumers.
There is no need whatever to reduce use of so-called “fossil fuels.” There is no need for the “efficiency” and “conservation” measures that will be imposed. If the government would permit access to the nation’s vast reserves of coal, oil and natural gas, none of this would be needed, but it will not.
The nation is under attack from within by a consortium of fanatical environmentalists and rent-seeking corporations and utilities seeking to profit from these government mandates and limits.
It is the perfect storm. It is treason.