Libertarian ping.To be added or removed from my ping list freepmail me or post a message here
Posted on 06/16/2005 5:24:41 PM PDT by CHARLITE
WASHINGTON – Over 1 million jobs would be lost over the next fifteen years under the proposed McCain-Lieberman carbon cap proposal according to a study sponsored by United for Jobs and the American Council for Capital Formation that was released today.
The new study assessed the economic cost of the updated language in the McCain-Lieberman legislation and showed that 1,306,000 jobs would be lost by 2020 under the McCain-Lieberman emission cap proposal.
Among the key findings of the study: • $810 annual costs to households once fully implemented;
• Gasoline increases of up to 55 cents per gallon;
• 20% increase in electricity prices by 2020;
and
• 47% increase in natural gas prices.
Senators McCain and Lieberman recently revised their bill to include ‘innovation’ provisions that would subsidize the development and deployment of new nuclear and renewable energy technologies. The report found that these subsidies will only add to the total economic cost of the legislation.
The study also looked at a proposal recommended by the non-government sanctioned National Commission on Energy Policy (NCEP). The NCEP proposal would have the same effect as an energy tax on $26 per ton of carbon. The annual U.S. cost would be $27 billion with emission reductions results barely different from current baseline emissions. In fact, the NCEP proposal would produce smaller emissions reductions than the goal of the President’s ongoing voluntary program while creating unnecessary new bureaucracy, new vested interests, and large tax-like wealth transfers. Senator Jeff Bingaman (D-NM) is currently considering offering the NCEP plan as an amendment to the energy bill.
‘America’s economy will only grow and thrive if small businesses have abundant and affordable energy supplies. As the Senate moves forward on advancing energy legislation they should reject any proposals such as McCain-Lieberman or NCEP that increase energy prices,’ said Karen Kerrigan, President of the Small Business & Entrepreneurship Council.
The study was commissioned from CRA International by United for Jobs and the American Council for Capital Formation. United for Jobs is a project of the National Black Chamber of Commerce, Small Business & Entrepreneurship Council and National Association of Neighborhoods. The full study can be accessed online at http://www.united4jobs.com.
Comments: ldlugacz@dcgpr.com
bttt
As usual.
Libertarian ping.To be added or removed from my ping list freepmail me or post a message here
Well, if the price of propane goes up too much, I will switch over to wood.
Please, please somebody explain to me how McCain remains in the Republican Party.
Down here, somebody with his record would be shown the door...
Hi Char...Thanks for the chance to vent.
FMCDH(BITS)
McCain is a vulture circling the Republican Party with his eye on the largest elephant but the sun is setting, the air is cooling, and McCain can no longer circle hungrily above. McCain descends to a barren limb on a dying tree. He twists his head under his wings and gnaws at the parasites that infest his feathered breast. Tomorrow McCain will return.
I think the 20% figure is in addition to any inflationary increases.
oh duh me...
Think about how Social Security “would never require more than 3% of workers’ income”
Think of how the promises for the “War on Poverty”, how it has cost tens of trillions of dollars, and where we are now.
Think of how welfare has created more and more poor children from broken homes and abandoning fathers.
Think of how successful the mid-80s promises to eliminate illegal immigration were.
Think of how successful socialized medicine is in Canada and elsewhere, and how the “prescription drug” and Mass.Health care programs are already forecast to cost twice as much as they were predicted to only two years ago.
Think of how well the government has predicted the cost of such wonderful projects as the “Big Dig” and the Denver Airport luggage handling, and how successful such big government projects have proved to be.
Think of how successful the Congress has been in keeping energy prices in check with their “energy bills”.
Think of how well the Congressional March’05 forecast “merely a 20 cent increase in corn prices” if ethanol is dictated to be substituted for gasoline, and how now, three years later, instead of Corn = $2.20/bushel (Mar’05) now costs above $6.00/bushel.
Given that this ‘analysis’ is being given by folks who are pushing the “globe is warming” nonsense, for any of several political, sociological or ‘spiritual’ reasons, in the light of all the above, what is your guess:
This estimate is LOWER than what will prove to be the TRUE cost, or is it HIGHER?
Try to be honest about what you really think/ believe.
For what its worth, as you can tell, I believe it to be a SEVERE underestimate... probably about as far off the mark as the estimate of the cost of corn.
Over 1 million jobs would be lost over the next fifteen years under the proposed McCain-Lieberman carbon cap proposal according to a study sponsored by United for Jobs and the American Council for Capital Formation that was released today.
McBoob believes in the global warming myth.
Therefore it is now conservative to believe in global warming.
You pinko commie.
(this is a sarcasm alert, had this been a real emergency you would have been directed where to....)
Prior to the 2000-2001 "California Power Crisis" and the resulting decisions both in CA and the rest of the US to really favor burning "cheap" natural gas to make electricity instead of coal, etc. Natural gas had been trading during the 90s in the range of $1.50-2.00. Today, natural gas costs over $10.00/mmbtu ... (it was at $11.20+ yesterday). This increase has little to do with 'inflation' or 'the value of the dollar' but is instead due to the MUCH greater demand for this "clean fuel" to generate electricity. Much of the power bill inflation that we have experienced during the past decade is due to this nutty substitution of burning natural gas instead of coal to make electricity. I wrote many times "pre-9/11" as well as during the couple years following the CALPOWERCRISIS (FR keyword): example: http://www.freerepublic.com/focus/f-news/975614/posts
An excellent article, if long. The early portion is a very good discussion of market behavior and the evil of government interference in markets.
I have long been surprised at the lack of comprehension in the electricity market circles that the massive drive toward production using natural gas would massively drive the price of natural gas upwards. This process is not yet complete, and everyone ought to expect that natural gas is only a low fraction of the cost it will be in the future. I, for one, have decided to heat my home with coal as much as practical.
The discussion of a terrorist market is a bit lacking, but by that time in this article the author was probably getting bored of writing as well as realizing most readers would not even get that far.
... and ... http://www.freerepublic.com/focus/fr/913375/posts
CA's insistence on building gas-powered turbine generating plants, and thereby increasing the demand for natural gas, assures that the ol' supply-demand forces will drive the price of gas ever higher. To anyone who has a mind this should have been an expected story many years ago.Meanwhile, due to demands of the recent worldwide economic upturn beginning 2004, the price of coal which was very stable during the previous 20 years, has increased by only about 25%.
Saying "only 20%" increase in electricity prices due to "clean" policies is incredibly deceptive. None of the analysis I've seen regarding these proposed policies gets close to accurately reflecting the economics.
Please explain to me how any Freeper voted for McCain during the primary.
That’s ok, McCain will come up with a Federal dislocation allowance package for these unemployed workers- funded by taxpayers, of course. He’s a man of the sheeps, er I mean peeps.
Post # 12 put it in a better perspective for me, but as you say,
the numbers are already junk.
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