Cap & trade, “a postage stamp”

Representative Boucher voted YES

Energy and Environmental Law Amendments HR 2454 (“Cap and Trade”)

Establishes a cap and trade program in which covered entities are prohibited from emitting greenhouse gas in excess of the number of emission allowances and offset credits that the entity acquired during each calendar year (Sec. 311).

-Specifies that a “covered entity” includes, but is not limited to, the following (Sec. 312):

-Any electricity source;

-Stationary source that produces and entities that import for sale or distribution in 2008 or any subsequent year petroleum-based or coal-based liquid fuel, petroleum coke, or natural gas liquid, the combustion of which would emit at least 25,000 tons of carbon dioxide equivalent of greenhouse gas;

-Any geologic sequestration site;

-Any stationary source involved in adipic acid production, primary aluminum production, ammonia manufacturing, cement production other than grinding-only operations, hydrochlorofluorocarbon production, lime manufacturing, nitric acid production, petroleum refining, phosphoric acid production, silicon carbine production, soda ash production, titanium dioxide production, and coal-based liquid or gaseous fuel production; and

-Natural gas local distribution companies that deliver at least 460 million cubic feet of natural gas.

-Establishes a penalty for covered entities that emit greenhouse gases in excess of the amount of emission allowances and offset credits the covered entity has acquired.

-Establishes the following national building code energy efficiency targets (Sec. 201):

-30 percent reduction in energy use relative to a comparable building constructed in compliance with the baseline code effective on the date of enactment of this Act;

-50 percent reduction in energy use relative to the baseline code beginning January 1, 2014 for residential buildings and January 1, 2015 for commercial buildings; and

-5 percent additional reduction in energy use relative to the baseline code beginning January 1, 2017 for residential buildings and January 1, 2018 for commercial buildings, and every three years thereafter, respectively, through January 1, 2029.

Appropriates $25 million to the Secretary of Energy to enforce the national energy efficiency building code (Sec. 201).http://www.votesmart.org/issue_keyvote_detail.php

timesnews.net

Boucher cites Congressional Budget Office estimates that the total cost of the cap and trade legislation for a typical family will be less than a postage stamp per day.”

Published July 10th, 2009 |

Of the recent passage in the U.S. House of a massive “cap and trade” bill, Rep. Rick Boucher, D-Abingdon, tells the Times-News he is “amused” by critics’ “hysterical claims” that the legislation will result in a big spike in energy prices.

“The costs of this program are very affordable,” Boucher says, “and electricity rates will be very affordable for all Americans when fully implemented by around 2015.”

Boucher cites Congressional Budget Office estimates that the total cost of the cap and trade legislation for a typical family will be “less than a postage stamp per day.” Says Virginia’s Ninth District congressman, “Claims that this legislation will impose a huge new cost on the American public are simply without foundation.”

These repeated reassurances notwithstanding, what isn’t very amusing is Rep. Boucher’s apparent willingness to bushwhack common sense in the service of blatant partisanship. If the cap and trade bill which Rep. Boucher helped to write works as advertised, it will harness the force of the marketplace to realize its creators’ aims of fundamentally restructuring America’s energy portfolio. Ah, but there’s the rub.

To accomplish that goal, manufacturers and utility providers must comply with a congressional directive to lessen their use of carbon dioxide….http://www.timesnews.net/article.php?id=9015151

CADustBowl-300x227

California’s Central Valley. Formerly known as America’s Bread Basket.

The state and federal government, under the draconian auspices of the Endangered Species Act,

has turned the water OFF.  Orchards half a century old have been razed.

What makes you think they won’t do the same thing to coal?”

NOT TO BE CONFUSED WITH THE CONGRESSIONAL BUDGET OFFICE…

•National Association of Manufacturers (NAM) estimates a net loss of 3 to 4 million jobs in 2030.

The Heritage Foundation estimates annual job losses as high as 1 million.

Massachusetts Institute of Technology estimates that a family of four could expect to pay as much as $4,560 in additional taxes in 2015.

NAM estimates the burden on households could be as much as $6,752 per year by 2030.

Electricity prices are estimated by NAM to rise between 101 percent and 129 percent in 2030

Gas prices are estimated by EPA to rise by as much as $1.60 per gallon

Natural Gas prices would more than double in 2030 according to NAM.

The Heritage Foundation estimates a decline in GDP of $1.5 to $4.8 trillion by 2030.

EPA estimates a decline in GDP by 2050 of nearly $3 trillion.

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