06/25/2009 (6:32 pm)
Congress will be voting tomorrow on H.R. 2454, the Waxman-Markey Cap-and-Trade scheme. This is a permanent energy tax that will, in fact, cripple the US economy, extending the current downturn into the foreseeable future. Proponents are touting a Congressional Budget Office estimate that says the cost will be minimal, but the Heritage Foundation explains why their estimates grossly underestimate the costs and completely ignore the depressing impact that an energy tax will have on the economy.
American Solutions has a petition that we should all sign, expressing our general opposition to any cap-and-trade system or energy tax.
Two factors that I’ve discussed frequently on this blog come into play:
(1) The alternatives to fossil fuels are not ready for prime time. The evidence of this is that nobody will touch them without enormous subsidies, which means they do not believe they can make a profit at current energy prices. By this we know that a tax sufficient to force producers to build alternative-technology electrical generating capacity will necessarily drive our electricity rates through the roof; they will not work unless fossil-fuel-generated electricity costs more than alternative-generated electricity — which we already know costs so much that producers won’t touch it without huge subsidies. Worse, even with artificially high fossil-fuel prices and ridiculous subsidies, fossil fuels will continue to provide most of our energy for at least the next 35 years, and more likely longer. If you want to read what I’ve written about energy alternatives and their readiness for use, click the topic “Energy” under the Topical Index on my sidebar, or click here.
(2) Switching away from fossil fuels will accomplish exactly nothing. Not only is it the case that the best estimates of the reductions in CO² by America implementing cap-and-trade are not sufficient to stop any significant warming; it is the case that current science has pretty much demolished any defense of the notion that humans are causing the climate to heat enough to cause any damage. There remains not a shred of observable evidence suggesting that humans are heating the planet more than a few fractions of a degree, and the returns from NASA’s Aqua satellite demonstrate beyond reasonable doubt that the earth responds to increases in CO² by generating more cloud cover, cooling the earth to counteract greenhouse warming. Not only that, but theorists studying the effect of solar flares on cloud formation predict 25 years of cooling, and the earth has not experienced any warming in the last 11 years. If you want to read what I’ve written about climate change, click the topic “Climate Science” under the Topical Index on my sidebar, or click here.
Thus, Waxman-Markey engages bad economics in an attempt to calm fears caused by obsolete science.
Please sign the petition, then call your Congressman and tell him to vote “No” on H.R. 2454.
Aren’t you glad the Democrats control Congress?
4 Comments »
Comment by John Cooper
I wrote my Congressman yesterday, but rather than the biggest tax increase in the history of the world, we have more important things to worry about:
Both Farrah Fawcett and Michael Jackson died today.
Comment by Shake Flashlight
Sad, isn’t it. But what can you expect in this situation?
Comment by Marc
I also wrote my congressman yesterday and I will be making phone calls tomorrow.
As John said above it’s all Jackson/Fawcett on TV. Geraldo doesn’t know what to do with himself.
Comment by Rita Ritter
We need our congress to vote no Cap & Tax. What’s wrong with you. We do not need more taxes placed on us we give enough in taxes. You might be able to afford to pay the extra taxes we do not make the amount of money you do. You can give yourself your raises we can’t stop it.