DARK AGES REDUX-Cap and Trade Bill Details

Steve Spruiell and Kevin Williamson wrote a piece for National Review Online titled “A Garden of Piggish Delights”.   They have gone through the 1300 page Waxman-Markey Cap and Trade Bill and have listed the top 50, main provisions in the bill.  As we know, no one who voted for (or against –hooray  them) it had read the bill when they voted.  So I suspect they might be somewhat surprised and enlightened if they read this summary.  And more to the point EMBARRASED!!!!

 As a teaser, the following are some of Spruiell and Williamson highlights:

  • Eighty-five % of the carbon permits will not be sold but rather given away to utility companies, etc..  The sale of these permits begins in earnest in about 10 years.
  • Some of the monies derived from the permit sales will go to build capacity to reduce  deforestation in developing countries.
  • Projects receiving grants from this legislation must implement Davis-Bacon union wage rules.
  • The farm state Representatives agreed to vote for this bill when agribusiness was exempted from Cap and Trade controls.
  • The bill directs the EPA to ignore the real environmental impact of ethanol and other biofuels.
  • And there are guarantees for loans to build ethanol pipelines.
  • Obama can enact tariffs on any country that fails to clamp down on greenhouse gas emissions.   Think China, India, Brazil and Mexico when you read “any country”.    Remember what Smoot-Hawley  high tariffs did to the world economy during the 1930’s.
  • Utilities must supply 20% of their power from renewables by 2020.  Nuclear and Canadian hydro power generated electricity do not qualify as renewable.
  • The EPA is to regulate greenhouse gas emissions from cars, trucks, buses, boats, airplanes,  and other mobile sources. 

To read the whole thing,  click here

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