Posted on 02/27/2009 5:10:36 PM PST by St. Louis Conservative
WASHINGTON -- The chief executive of Duke Energy Corp., one of the nation's biggest power companies and a major source of greenhouse gas emissions, said Friday that a proposal by President Obama to place a price on carbon emissions would drive up electricity rates in some areas of the U.S. by 40% and warned that it could also lead to "a redistribution of wealth" from Midwestern industrial states to coastal states.
Duke Energy CEO James Rogers said he was also concerned that some of the roughly $646 billion that Mr. Obama hopes to raise by making companies pay for the right to pollute would be diverted to causes unrelated to fighting climate change.
"My view is they'll try to use the money from Ohio and Indiana to subsidize the West coast and the Northeast and to use it for purposes that are different from addressing the climate issue," Mr. Rogers said Friday in an interview with The Wall Street Journal.
Mr. Rogers was referring to a provision in Mr. Obama's budget proposal that calls for the adoption of a cap-and-trade system in which the government would set limits on the amount of carbon dioxide and other greenhouse gases that industries can emit. Under such a system, companies would have to buy and sell rights to emit those gases.
Mr. Obama's proposal, which was released Thursday, projects that the U.S. government could raise roughly $645 billion from auctioning off emissions credits between 2012, when the system would kick in, and 2019. Mr. Obama's proposal calls for using about $120 billion of that revenue to pay for new spending on various low-carbon technologies. His proposal calls for returning the rest of the money "to the people, especially vulnerable families, communities and businesses to help the transition to a clean energy economy."
(Excerpt) Read more at online.wsj.com ...
I understand the implications of what I typed. I, too, have never hoped for the total collapse of the USA but as it is said, “those who forget history are doomed to repeat it.” The allure of socialism to some is so great that they fail to see how it has failed miserably everywhere else. The only salvation we have is if the repubs take over the senate and house in ‘10 and give Obama the ol aligator death roll right outta office in ‘12.
Don’t ask me, ask the Dalai Bama. It’s his idea not mine.
I'll stick with the old maxim that it is better to beg forgiveness than ask for permission. Don't ask the question if you think you're not going to like the answer or pique the interest of people who have no damn business sticking their noses in your business.
I agree. To paraphrase the words of a US Army major in 1968 in Vietnam, “It became necessary to destroy the country in order to save it”.
A tax by any other name is still a tax.
Hidden in the monthly utility bill but rich and poor alike will still have to pay it.
They’ll count the wood in your back yard.
ACORN workers will need something to do to earn their pay between elections.
“I understand what you are saying and how you feel. I am tempted to hope all the asinine ideas this Administration is proposing become reality just so I can say to my liberal family members “see I told you so” when they fail.”
The problem is, Liberals don’t care about history, even if it is yesterday’s history. Facts mean nothing to them. One of my operative definitions of a Liberal is someone who doesn’t learn from their mistakes. It won’t matter that their policy failed. It’s all about how they feel about it.
Perhaps the biggest motivation of a Liberal is: if it makes a Conservative feel bad, then it must be good. So rationality of thought has no meaning to them.
“raise rates tremendously and then “discover” a way to reduce them...if people would just let Nanny State take over control of their power usage.”
I think you are right on with that one.
Currently our utility offers a $40 one time payment to go with their central control system. I suspect they will act astonished that no one is taking it with such a “generous” incentive, and then move to a penalty system.
Its going to take a third party, which is highly unlikely in the US. It's especially unlikely because responsibility would have to be a major tenet of the party.
I just looked at my latest elec. bill and here it is broken down:
Cost of electricity you used
Basic service charge $5.91
Delivery service charge $25.33
Environmental benefits surcharge $3.17
Federal environmental improvement surcharge $0.16
Competition rules compliance charge $0.35
System benefits charge $1.89
Metering* $4.62
Meter reading* $1.54
Billing* $1.74
Generation of electricity on-peak* $37.70
Generation of electricity off-peak* $11.07
Transmission and ancillary services* $5.32
Transmission cost adjustment* $1.24
Cost of electricity you used $86.03
Taxes and fees
Regulatory assessment $0.16
State sales tax $4.92
County sales tax $0.62
City sales tax $2.37
Franchise fee $1.72
Cost of electricity with taxes and fees $95.82
You should be proud to spend whatever it takes to save the planet. Praise O.
Barf.
Barf is right. We spend more on all of those taxes than we do for actual electricity!
If a foreign country was doing this to us, it would be war.
Maybe it’s war anyway...
It’s to the point that I hope every last one of Obama’s supporters takes a financial beating because of his “progressive” ways. It’s going to take some pain for the daft to wake from their political trance.
In 2001, California switched from a 2-tier system to a 5-tier system. The top residential tier is 40 cents/kWh, an outrageous price. But I have every confidence it will come down once we build more windmills and solar plants.
Barf II
Has a single Senator seen “The Great Global Warming Swindle”? It is impossible to believe in the Great Carbon Hoax if you have seen this film. I gave all my friends a DVD with both Al Gore’s film and “Swindle” and every one of them came away laughing at the scandalous fraud of “climate change”.
Liberals always claim they are for the poor but ALWAYS do things that hurt them the most.
“I am tempted to hope all the asinine ideas this Administration is proposing become reality just so I can say to my liberal family members “see I told you so” when they fail.”
Exactly. Nothing switches votes faster than having your wallet shrunk.
Most parts of the country have no choice but to pay - either for heating or cooling. Or both. Like you. I didn’t know Idaho got hot!
We just might have to chuck it all and move to the mountains. No A/C needed and have cords and cords of wood for heating.
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