Skip to comments.Waxman-Markey: Man-Made Disaster
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 ...
Smoot-Hawley for our times sounds appropriate. Hopefully it won’t take a worldwide conflict to pull us out of the downward spiral.
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. 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!
Hey, we the American People elected him, maybe even legitimately.
PLEASE EVERYONE, CALL YOUR ELECTED REPS.
We are SO screwed!!!
We will soon be a 3rd world country. Energy starved , because our politicians are not too bright!!!
Environmental Groups See Divide over Landmark Climate, Energy Bill Weakened by Industry Lobbying
Cap-and-Trade Does More Harm than Good
That headline assumes that Waxman and Markey are actually men.
Climate Bill Showdown: Obama, Dems Pressing Hard
Associated Press | June 25, 2009
Posted on 06/25/2009 4:03:07 PM PDT by reaganaut1
Cap & Trade + Card Check + Socialized Heath Care = End of the USA.
Isn’t, under the new terminology, a “man-made disaster” a terrorist act?
I'm afraid you are right.
Freedom works, sheepleism wanton of direction doesn't.
We are rapidly losing our freedoms.
We need CHANGE come 2010
Waxman is a BIG man capable of toting a two way train tunnel on his face.
Don't mess with him...
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.
+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.
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.
But Obamacare will take care of the elders so the govt will not have to pay for them.
Capitol Switchboard: 202-224-3121
Tool free capital switchboard number are below.
List of all congressmen here and their individual phone numbers
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.
We need Civil War II. The sooner the better. This corrupt, putrid government needs to go.
We need change now.
“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?
:’) Nice catch!
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”
Why the Waxman-Markey bill will kill the US with energy outsourcing and refining issues...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