In the typical manner of a Politician never allowing a crisis to be wasted, The President again pushed his talk of ‘A Clean Energy Future’, and his support for Carbon Cap And Trade Legislation.
Senator Kerry also came out yesterday and said that any cost you pay as a household is well worth it if it lowers the Temperature.
WTF (Pardon the texting lingo)
Cap and Trade will do what?
Lower the temperature?
Drawing a long bow there Senator.
Notice how the good Senator specifically narrows it down to the lowest possible price, when he said less than a Dollar a day to lower the temperature.
Sounds great, but let’s look at the bigger picture.
In his own Legislation, he sets the cost of Carbon (and, Oh! Senator, it’s Carbon Dioxide) at the lower figure of $26 per ton.
Again, note how he specifically uses the lower figure.
So what is the bigger figure, when all those tons of CO2 are extrapolated out?
His own Legislation calls for each CO2 emitter to purchase one credit for every ton of CO2 they emit. If they don’t have that total, then they pay to make up to that total, and then pay a fine of 1.5 to 2 times the amount they did not have in tons.
There will be four auctions a year for emitters only to purchase those credits.
On April 1st each year those emitters will hand back credits to the amount of CO2 they emitted, they will have their CO2 total lowered and will then have to purchase new credits for the coming year.
Effectively, this means a dedicated income to the Government each and every year, because they are the ones who issue the credits for the coming year.
How much income?
The Senator tells us it’s less than One dollar a day.
Really.
Let’s work it out, and it’s not too hard at all.
Just from the electricity producing sector alone, those CO2 emissions amount to 3.5 Billion tons a year. That is made up in the main from the coal fired power sector, added to with emissions from Natural Gas Fired power plants, and in a further tiny amount those emissions from petroleum based fired power plants.
So that’s a total of 3.5 Billion tons each and every year.
At his American Power Legislation’s quoted figure of a starting price of $26 per ton, the total from the electrical power sector comes in at $91 Billion.
The electrical power production sector makes up 35% of all emissions, so now the overall total comes in at $260 Billion a year, and that’s not just year one, but the base price for every year.
$260 Billion.
As to cutting the cap each year, in numerous earlier posts I explained in great detail how those biggest emitters, the coal fired power plants just cannot lower how much coal they burn to produce the electrical power that they do produce.
So, in effect, that base price will be added to considerably each year by the fines this Legislation will impose on them.
As to lowering the temperature.
How Senator? How?
If this is supposed to reduce emissions of CO2, those reductions will be so tiny as to have almost zero effect, and if those other Developing economies have no restrictions placed on them, courtesy of the UN, and their Intergovernmental Panel On Climate Change, then their emissions will be rising, and by a hell of a lot more than the tiny reductions in the U.S. So, if their emissions are rising, then does that not raise the overall temperature, or will your legislation ensure that only the temperature in the U.S. will fall, and gee! how will you do that Senator?
Senator, this is a Red Herring the size of Blue Whale.
Less than One Dollar a day. Really?
Tell the truth.
A guaranteed income for the Government of $260 Billion a year.
And a clean energy future.
Wind Power and Solar Power are the most abject of failures when it comes to supplying electrical power on the constant and reliable basis that is needed.
Nearly 70% of every Watt of power produced in the U.S. is required for the full 24 hours of every day. Wind can supply it’s full power for at best 5 hours a day, and Solar struggles to supply its full power for three to four hours a day, and in the depths of Winter, barely one to two hours a day.
Clean energy. More like No energy.
This has nothing whatsoever to do with lowering the temperature.
It’s just about the $260 Billion.
Tell the ‘whole’ truth Senator.
And when the President uses this Oil Spill disaster to push the barrow for this new legislation, one does not relate to the other. It’s a red herring of massive proportions. An oil spill has nothing whatsoever to do with coal fired power production.
As has always been the case in this so called ‘closed’ debate, it’s just about the money!
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June 16th, 2010 → 12:24 pm
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