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Waxman-Markey: Man-Made Disaster
IBD Editorials ^ | June 25, 2009 | Investor's Business Daily

Posted on 06/25/2009 5:07:18 PM PDT by WhiteCastle

Fiscal Policy: The House of Representatives is preparing to vote on an anti-stimulus package that in the name of saving the earth will destroy the American economy. Smoot-Hawley will seem like a speed bump...As we've said before, capping emissions is capping economic growth. An analysis of Waxman-Markey by the Heritage Foundation projects that by 2035 it would reduce aggregate gross domestic product by $7.4 trillion. In an average year, 844,000 jobs would be destroyed, with peak years seeing unemployment rise by almost 2 million. Consumers would pay through the nose as electricity rates would necessarily skyrocket, as President Obama once put it, by 90% adjusted for inflation. Inflation-adjusted gasoline prices would rise 74%, residential natural gas prices by 55% and the average family's annual energy bill by $1,500.

(Excerpt) Read more at ibdeditorials.com ...


TOPICS: Business/Economy; Editorial; Front Page News; Government; News/Current Events
KEYWORDS: 111th; agriculture; algore; bho44; bhoenvironment; capandtax; capandtrade; carboncredits; carbondioxide; carbonoffsets; carbontariff; carbontax; cleanenergy; climate; climatebill; climatechange; co2; coal; cows; drillbabydrill; economy; ecoterrorism; edmarkey; electricity; emissions; energy; energypolicy; energyprices; energytax; epa; farmers; gdp; globalwarming; gore; gorebullwarming; greenhousegas; henrywaxman; heritagefoundation; hr2454; ibd; joblosses; jobs; junkscience; markey; methane; nancypelosi; nostrildamus; obama; offsets; pelosi; stimulus; taxes; taxhike; taxincrease; unemployment; waxman; waxmanmarkey

1 posted on 06/25/2009 5:07:19 PM PDT by WhiteCastle
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To: WhiteCastle

Smoot-Hawley for our times sounds appropriate. Hopefully it won’t take a worldwide conflict to pull us out of the downward spiral.


2 posted on 06/25/2009 5:11:30 PM PDT by Feasor13
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To: WhiteCastle
Yep. And for what?

Higher Taxes and Economic Devastation in Return for ... Nothing?

Regardless of the CBO's cost estimates of the Waxman-Markey cap-and-trade program, the necessary second part of the question--what benefits do the costs generate?--remains unanswered. Americans will get almost nothing in exchange for these higher taxes, and the legislation will provide nothing for future generations except more debt and less economic opportunity. According to climatologist Chip Knappenberger, Waxman-Markey would moderate temperatures by only hundredths of a degree in 2050 and no more than two-tenths of a degree at the end of the century.[8] This does not sound like a great deal for the next generation--millions of lost jobs, trillions of lost income, 50-90 percent higher energy prices, and stunning increases in the national debt, all for undetectable changes in world temperature.

The CBO analysis of Waxman-Markey fails to take into account all the adverse effects that will ripple through the U.S. economy if cap and trade becomes law. CBO's grossly underestimated costs means Members of Congress will be grossly misinformed when voting on the legislation.

Let's not be absorbed by Hollywierd and unfaithful governors. WAKE UP PEOPLE!

3 posted on 06/25/2009 5:18:31 PM PDT by Daffynition ("If any of you die, can I please have your ammo?" ~ Gator113)
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To: WhiteCastle
Just observe Henry Waxman for a while, legislatively, politically, or socially. And it will become graphically obvious to see the disasters hanging over the United States of America. That applies to a bunch of other Congressmen, and President, but old Henry is a perfect example.

Hey, we the American People elected him, maybe even legitimately.

4 posted on 06/25/2009 5:22:12 PM PDT by jnsun (The LEFT: The need to manipulate others because of nothing productive to offer)
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To: Feasor13
I guaran-damn-tee you that the next "program" those morons in DC will create will be "energy stamps" for all the poor, elderly, women and children who are freezing to death. Or roasting because they can't afford the air conditioning...and the elders can't afford gas to get to the Dr. office...oops, nevermind, I forgot that there won't be any Dr. offices to go to after 0bamacare.

PLEASE EVERYONE, CALL YOUR ELECTED REPS.

5 posted on 06/25/2009 5:24:35 PM PDT by cfrels
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To: WhiteCastle

We are SO screwed!!!


6 posted on 06/25/2009 5:34:54 PM PDT by KoRn (Department of Homeland Security, Certified - "Right Wing Extremist")
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To: WhiteCastle

We will soon be a 3rd world country. Energy starved , because our politicians are not too bright!!!


7 posted on 06/25/2009 5:47:44 PM PDT by wbones8765 (The worst idea ever)
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To: WhiteCastle

Environmental Groups See Divide over Landmark Climate, Energy Bill Weakened by Industry Lobbying
http://www.democracynow.org/2009/5/22/climate_debate

Cap-and-Trade Does More Harm than Good
http://www.commondreams.org/view/2009/06/25-3


8 posted on 06/25/2009 5:51:48 PM PDT by Lorianne
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To: WhiteCastle

That headline assumes that Waxman and Markey are actually men.


9 posted on 06/25/2009 5:55:09 PM PDT by rfp1234 (Phodopus campbelli: household ruler since July 2007.)
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To: AdmSmith; Berosus; bigheadfred; Convert from ECUSA; dervish; Ernest_at_the_Beach; Fred Nerks; ...

Climate Bill Showdown: Obama, Dems Pressing Hard
Associated Press | June 25, 2009
Posted on 06/25/2009 4:03:07 PM PDT by reaganaut1
http://www.freerepublic.com/focus/news/2279536/posts


10 posted on 06/25/2009 6:04:55 PM PDT by SunkenCiv (http://www.troopathon.org/index.php -- June 25th -- the Troopathon)
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To: WhiteCastle

Cap & Trade + Card Check + Socialized Heath Care = End of the USA.


11 posted on 06/25/2009 6:09:55 PM PDT by Domandred (Hope is the first step on the road to disappointment.)
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To: SunkenCiv

Isn’t, under the new terminology, a “man-made disaster” a terrorist act?

‘nuf said...


12 posted on 06/25/2009 6:35:00 PM PDT by bigheadfred (Negromancer !!! RUN for your lives !!!)
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To: wbones8765
We will soon be a 3rd world country.

I'm afraid you are right.

Freedom works, sheepleism wanton of direction doesn't.

We are rapidly losing our freedoms.

13 posted on 06/25/2009 6:37:34 PM PDT by EGPWS (Trust in God, question everyone else)
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To: wbones8765

We need CHANGE come 2010


14 posted on 06/25/2009 6:39:06 PM PDT by ronnie raygun
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To: rfp1234
That headline assumes that Waxman and Markey are actually men.

Waxman is a BIG man capable of toting a two way train tunnel on his face.

Don't mess with him...

15 posted on 06/25/2009 6:40:27 PM PDT by EGPWS (Trust in God, question everyone else)
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To: ronnie raygun

Yes, we definetly need to change in the Senate and the House. 2010 will go a long way towards determing what happens to this country. That is if we still have anything left before it gets here.


16 posted on 06/25/2009 6:41:42 PM PDT by wbones8765 (The worst idea ever)
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To: Domandred
Cap & Trade + Card Check + Socialized Heath Care = End of the USA.

+immigration reform = End of USA

Actually, any one of these four gems can end our Republic for good. If combined, the destruction to this country is unfathomable.

17 posted on 06/25/2009 6:46:58 PM PDT by kara2008 (Government cannot be the solution when government is the problem)
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To: WhiteCastle; 11B40; A Balrog of Morgoth; A message; ACelt; Aeronaut; AFPhys; AlexW; ...
DOOMAGE!

Global Warming PING!

You have been pinged because of your interest in environmentalism, alarmist wackos, mainstream media doomsday hype, and other issues pertaining to global warming.

Freep-mail me to get on or off: Add me / Remove me

Please ping me to all note-worthy threads on global warming.

EXCLUSIVE: Bill gives billions to save trees in other nations

Support for climate bill growing among Democrats

Democrats Pushing for ‘Job Killer’ Climate Bill: Rep. Cantor

Global warming on Free Republic

Latest from Global Warming News Site

Latest from Greenie Watch

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Latest from Terra Daily

18 posted on 06/25/2009 7:14:34 PM PDT by Tolerance Sucks Rocks (Barack Obama: in your guts, you know he's nuts!)
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To: WhiteCastle

You think gas prices are high at $2.90 a gallon, wait until we see those european prices, upward $6-$7 per gallon, in today prices.


19 posted on 06/25/2009 7:27:35 PM PDT by rawhide
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To: cfrels

But Obamacare will take care of the elders so the govt will not have to pay for them.


20 posted on 06/25/2009 7:57:30 PM PDT by Feasor13
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To: All

TAKE ACTION!

Capitol Switchboard: 202-224-3121

Tool free capital switchboard number are below.

800-828-0498

877-762-8762

List of all congressmen here and their individual phone numbers

http://clerk.house.gov/member_info/mcapdir.html


21 posted on 06/25/2009 8:00:36 PM PDT by hoosiermama (Hey hey! Ho ho! Where's your Birth Certificate/ We've a right to know!)
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To: Feasor13
How can anyone with a conscience willingly inflict this much damage on their own country. I have to question their motives and what will they gain personally.

Is it their intent to drive the standard of living in this county downward until it equals that of a third world country? Why did they exempt 85% of the carbon tax penalty's for industry, this puts almost the entire burden on the back of working families. This is not the same country that I grew up where people were free start a new business and become successful. Now government at all levels do their best to drive you out of business by adding fees and raising taxes on a yearly basis.

When will government take a real look and start cutting some of the unnecessary costs such as multimillion dollar contracts to campaign supporters. These type of actions do nothing to promote the stability and growth of this nation and the citizens that live within it borders.

22 posted on 06/25/2009 8:15:36 PM PDT by reader25
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To: WhiteCastle

We need Civil War II. The sooner the better. This corrupt, putrid government needs to go.


23 posted on 06/25/2009 8:20:19 PM PDT by july4thfreedomfoundation (If Randy Cunningham is in prison for corruption, then why isn't Diane Feinstein locked up as well?)
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To: ronnie raygun

We need change now.


24 posted on 06/25/2009 9:41:09 PM PDT by struggle ((The struggle continues))
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To: WhiteCastle
06.24.2009 — The Sunlight Foundation Lambasts Secrecy of New Cap and Trade Energy Bill
 

25 posted on 06/25/2009 10:11:59 PM PDT by smokingfrog ( Don't mess with the mockingbird! /\/\ http://tiny.cc/freepthis)
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To: reader25

“How can anyone with a conscience...” You hit the nail on the head. They don’t have a conscience. This is all about power over the American people. The dimrats ran this country through the house of reps for 40 years. They lost the house due to Newt Gingrich in 94 and just really got it back in 06. I think that this time, they are going for broke to make sure they never lose the house again. Every liberal wacko idea they have ever had is being implemented becuase they have a senate and a phony president that agrees with them. They see this as a unique opportunity in time to shove through huge power grabs all at once. That is why they are running at hyper speed to get all this stuff done. Take over key industries, take over banks, take over the medical industry, take over the census, cap and tax, card check and who knows what else they have in store for us. And since the media has been paid off, there will be no objective reporting of what they are up to. I am afraid that by they time we figure out what thay have done, it will be so entrenched that it would be next to impossible to get rid of. What country did I wake up in this morning?


26 posted on 06/26/2009 5:03:55 AM PDT by Texas resident
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To: bigheadfred

:’) Nice catch!


27 posted on 06/26/2009 9:52:43 AM PDT by SunkenCiv (https://secure.freerepublic.com/donate/__Since Jan 3, 2004__Profile updated Monday, January 12, 2009)
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To: WhiteCastle

If the Climate bill passes the Senate, the climate bill will add 30% to the price of electricity, gasoline, natural gas, and will make steel 30% more expensive to make in the USA. That will be the last nail in the coffin for the auto industry as well as the steel industry in America. All those jobs and many, many more will go to India, Brazil, China, and Mexico. The Taxocrats are attempting to turn our recession into a depression with their insanity.

If you google “solar minimum” “sunspot” and “Ice Age” you will see a massive body of evidence we are more likely headed toward a new Ice Age due to cooling of the sun. The Climate bill would not only could destroy our fragile economy but help to further exacerbate the damage from the cooling sun. Any one who doubts the heating and cooling of the sun need only observe the polar caps on Mars as they shrink and grow “Where no man has gone before”


28 posted on 07/01/2009 9:46:42 AM PDT by ReadTheLaw (by Frederic Bastiat)
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To: WhiteCastle

Why the Waxman-Markey bill will kill the US with energy outsourcing and refining issues...PDF

http://www.api.org/Newsroom/upload/ENSYS_W_M_Briefing_Report_2009_8_20.pdf

“”Refining, energy security, jobs, physical security, economy, a decent life....

The United States will be more dependent on imports of gasoline and other petroleum fuels while U.S. refining production would be shifted overseas if a climate change bill passed in the U.S. House of Representatives becomes law, a study shows.

An analysis by global consulting firm EnSys Energy of the impact of the “American Clean Energy and Security Act”, which passed by a narrow 219-212 vote in the House in June, on the U.S. refining sector showed that investment in U.S. refining capacity could plummet because the cost of doing business could soar. Production at U.S. refineries would drop while production at refineries in countries that do not limit their own greenhouse gas emissions would rise. The impact on global refinery greenhouse gas emissions would be minor as reductions in U.S. emissions mostly would be offset by increases in emissions in other countries.

“This study clearly shows the devastating impact this legislation could have on U.S. jobs and U.S. energy security,” said API President and CEO Jack Gerard. “Climate legislation should not come at the expense of U.S. economic and energy security. Congress needs to analyze carefully the impact of any climate policy on ordinary Americans, American jobs and American companies. A deep decline in U.S. refining activity would have a ripple effect throughout the economy, affecting jobs in sectors beyond the oil and gas industry. Steelworkers, construction workers, even the shop keepers, school teachers and waitresses working in communities where refineries operate would feel the pinch.”

The House climate legislation drives up individual and business fuel costs because it inequitably distributes free emission “allowances” to various sectors. Refiners are held responsible for 44% of emissions, including the refinery emissions (about 4%) as well as consumer emissions from planes, trains, automobiles, heating oil, and other petroleum use. Yet refiners are allocated only 2.25% of allowances. In contrast, some other sectors receive free allowances that match or exceed their obligation.

According to the EnSys study, commissioned by API, the U.S. would need to increase its imports of petroleum fuels in order to meet as much as nearly one-fifth of U.S. refined product demand in 2030 if the House climate bill becomes law, double what imports would have been.

U.S. refining throughput, a measure of productivity, could plummet by as much as 25% (4.4 million barrels per day) and investment in U.S. refining could “


29 posted on 08/24/2009 1:25:31 PM PDT by givemELL (Does Taiwan Meet the Criteria to Qualify as an "Overseas Territory of the United States"? by Richar)
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