Beam me to Planet Gore !
“What is the purpose to cap and trade?” asks Fine. “Is the purpose to raise revenue? Is the purpose to lower CO2? Or both?” The bill (Waxman-Markey) coming out of the U.S. House of Representatives claims both purposes without a clear policy declaration.
The bill is now in the hands of the U.S. Senate.
Fine says determining the price or cost for one metric ton of carbon dioxide is the biggest omission in the bill that needs to be addressed before moving forward.
“What is the trigger price which would affect an investment from the utilities and others to move towards low carbon technology? How much should CO2 cost before it triggers a corporate strategic decision to invest in technology which would lower the greenhouse gas emissions?” asks Fine.
Without the price per ton of CO2, nothing can be implemented.
The house version has been worked over in the Senate with many changes. Fine says in the House bill, only 2% of the allowances (or credits) have been awarded to the oil and gas industry as opposed to 37% to the utility industry. “The Senate is currently looking at that in terms of equity,” said Fine.
Also there is no reference in that bill in support of nuclear energy.
“Nuclear energy, in terns of cap and trade, is a central part of the issue because it is emissions free,” added Fine.
Recognition of that in terms of allowances and credits would put nuclear energy in the forefront of greenhouse gas emissions reduction.
It would also assist the nuclear energy industry in rewards to financing new reactors. They could capitalize the credits to assist the bottom line.
The omission of nuclear energy in the House should be subject to discussion and debate in the Senate, says Fine.
Fine thinks a cap and trade bill, in some form, will be out soon and will probably be a moderate or reasonable version of the House bill. It will be less costly, more reasonable and an adjusted timeline for the implementation of it.
Fine says the focus on cap and trade creates a “a potential to reexamine the oil and gas industry, particularly the gas production.”
“There is growing recognition that the discovery, exploration and production of new gas, particularly shale gas, has changed supply and demand and put natural gas in a surplus position in the United States. In that way, the gas producers would be qualified as a low carbon or lower carbon emissions source than coal. So I think there is a changing dynamic of recognition of the gas industry based on the new surplus expected from shale gas,” Fine added.
I would dare to say that the average idiot out there has no clue how miserable their lives will be if this cap and trade legislation ever goes into effect.
This legislation is an out and out catastrophe for our economy and way of life. These people are insane. You will see unemployment in double digits from now until kingdom come.
Cap’n’trade law puts government in control of every business, every industry, every home, and every individual in America.
Carbon treaty puts an end to the notion of national sovereignty. It subjects the US to an international oligarchy.
We are debating the end of the republic. Pass this bill and it is our generation that buries the republic we inherited from better men than we.
You can stop right there. And add "global redistribution of American taxpayers' money".
Don’t let the MSM win this.
Show everybody you know (best ClimateGate clips):
A political and economic system based on collective ownership of the means of production and distribution. Socialists claim that their system of government and worker ownership bases production on human needs rather than on the profit motive.
follow the money
We can reduce CO2 emissions by about 50% in one day:
Abort all Democrats, regardless of how many trimesters old they are.
It's my right to choose.
I still can’t forgive Dave Reichert for voting for this crap.