| Jamie Dupree |
House To Vote On Energy
Late on Monday night, backers submitted the revised bill to the House Rules Committee, which posted the 1,201 page behemoth on the internet.
Please take a minute to leaf through it and find out what's stuffed in all those pages at http://www.rules.house.gov/111/LegText/111_hr2454_sub.pdf
This move certainly spices up the last few days of this Congressional work period, as Democrats seem ready to roll the dice on the energy issue.
For months, Republicans have savaged Democrats on the plan, which would allow heavy industry to trade permits for emitting greenhouse gas and other pollutants.
Those permits would be a way to raise money for the federal government, basically penalizing industries that decide not to switch to new technologies to cut down on climate change emissions.
GOP lawmakers have repeatedly charged that the move will result in a huge "tax" on Americans, because the energy industry (utilities) will simply pass the cost of the cap and trade system on to consumers.
But in recent days, Democrats got a gift from the Congressional Budget Office - the same outfit that made their blood run cold with $1 trillion and more cost estimates on health care reform.
On cap and trade, the CBO reported that by 2020, the program would cost consumers $175 per year.
You can read that CBO review at http://www.cbo.gov/doc.cfm?index=10327
As of right now, I wouldn't put my money on the Democrats to win this vote - but that CBO cost estimate certainly makes it easier for Speaker Pelosi to argue to her flock that it's a vote they can make and not feel like they are walking the plank.
Stay tuned. This will be an interesting battle in coming days.
What others are saying
- Cost Estimates Are LowThe $175 per year is just the cost to run the trading platform. The cost per household in the early years is approx. $2,000 per year and $7,000 in later years. Expect your electric bill to double.
- CBO$175 per year? HA! Maybe a month.
- Effective or cheap, pick oneThe thing is, for cap and trade to work the cost must be high. That's the design.
Today factories and power companies believe that reducing emissions costs more than they want to pay. The "trade" part of cap and trade relies on permits being more expensive than reducing emissions, hopefully pushing factories and power companies to buy equipment that they believe it too expensive right now.
So assuming the CBO's numbers are correct, then this cap and trade proposal won't be effective at reducing emissions. - Cap and TradeRIGHT - cost consumers $175 per year - is that per family or per household? This sounds the same as when I was a kid and the nurse said "bend over, this isn't going to hurt." Or a Dad said "this will hurt me more than it will hurt you."
Another Obamaism - at least they are helping ecology by shovelling out more stuff which makes grass grow green
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