The Discerning Texan
-- Edmund Burke
Monday, June 02, 2008
Unbridled, Unconscionable Hysteria. (October 1917 Redux)
The money quote is from the legendarily unremarkable Barbara Boxer, whose IQ gives Nancy Pelosi's a run for her money as to whose could most easily pass under the lowest limbo bar:
"And military leaders have told us that unchecked global warming will lead to severe conflict and war as droughts, floods and rising sea levels create huge numbers of desperate refugees."Senator Barbara Boxer
Democratic Radio Address
May 31, 2008
The Heritage Foundation puts actual facts to the ramifications of the bill, with comparitively little hyperbole:
So riddle me this: where the hell were the Republicans when the cloture vote came? Cowering under their desks, apparently.
On June 2, the United States Senate will begin debate on America's Climate Security Act (S. 2191), sponsored by Senators Joseph Lieberman (I-CT) and John Warner (R-VA). The Lieberman-Warner bill (LW) would restrict energy use to combat global warming. Like global warming itself, the bill has been the subject of considerable hype and little hard-nosed analysis. For this reason, there are several myths about it that need to be dispelled.
Myth #1: LW would not be expensive.
Fact: Simply put, LW works like a massive energy tax. By restricting carbon dioxide emissions from coal, oil, and natural gas--with a freeze at 2005 levels beginning in 2012, to a 70 percent reduction in 2050--the bill forces down supply and thus boosts the price of energy. In fact, if energy prices did not go up, then the targets in the bill would not be met. As energy is the economy's lifeblood, and 85 percent of it comes from these fossil fuels, the impact will be substantial. Cumulative gross domestic product (GDP) losses could reach $4.8 trillion by 2030, according to an analysis conducted by the Heritage Foundation. The Massachusetts Institute of Technology, the Environmental Protection Agency, Charles River Associates, and the National Association of Manufacturers have all conducted studies predicting significant economic burdens on consumers should the bill be enacted.
Myth #2: The costs fall on industry, not consumers.
Fact: Virtually all the burden imposed by LW falls upon consumers. The bill will spur net job losses well into the hundreds of thousands, and possibly nearing one million. Particularly hard hit is the manufacturing sector where over one million jobs will be lost by 2022 and two million by 2027. The losses in household incomes could reach $1,026 per year by 2015. Annual household energy-price increases could hit $1,000 by 2030, including a 29 percent increase in the price of gasoline from 2008 levels.
Myth #3: Global warming is a crisis that must be addressed at all costs.
Fact: Global warming is a concern, not a crisis. Both the seriousness and the imminence of the threat are overstated. For example, the recent United Nations Intergovernmental Panel on Climate Change report estimates 7 to 23 inches of sea level rise by the end of the century--far less than the widely popularized claims of 18 to 20 feet and little more than ongoing trends over the past several centuries. The attempt to link Hurricane Katrina with climate change is directly contradicted by the World Meteorological Organization and many scientists. Overall, current and expected future temperatures are far from unprecedented, and are highly unlikely to lead to catastrophes.
Myth #4: LW effectively addresses the threat of climate change.
Fact: Even assuming the worst of global warming, LW reduces the threat by a minuscule amount. The bill reduces emissions of carbon dioxide and other greenhouse gases in the United States only. China has overtaken America as the world's largest emitter, and its emissions growth is several times greater than that of the U.S. India and other fast-developing nations are on a similar trajectory. Thus, the unilateral impact of the bill on global emissions would be inconsequential. At most, it would reduce the earth's future temperature by one or two tenths of a degree Celsius--too small to even verify. In other words, LW is all economic pain for no environmental gain.
Myth #5: LW's cap-and-trade approach is a proven success.
Fact: Critics of the cap-and-trade approach in LW, in which emissions are capped and regulated entities may trade their rights to emit, point to the European Union's substantial difficulties since initiating its own cap-and-trade program in 2005. Most E.U. nations are not on track to meet their targets, and many are seeing their emissions rise faster than those in the U.S. The program is furthermore plagued by accusations of fraud and unfairness. LW essentially adopts the European approach wholesale.
Still more hard hitting quotes, courtesy of the quote-gathering superhuman, Michelle Malkin:
74-14 against cloture?? Has America just been lulled into submission by the non-stop hysteria and propaganda? Call your Congressmen and Senators and tell them to kill this atrocity, before it is too late!
Sen. James Inhofe called it several weeks ago:
Sen. James Inhofe (R-Okla.), Ranking Member of the Environment and Public Works Committee, today commented on the Lieberman-Warner global warming cap-and-trade bill’s substitute amendment (Climate Security Act – S.2191).
“The latest version is nothing more than window dressing for a bill that has been exposed by numerous government and private analyses as costly and damaging to America,” Senator Inhofe said. “Lieberman-Warner will redistribute over $5.6 trillion from American consumers to pet congressional projects. Despite paying for the trillions of dollars mandated by this cap-and-trade scheme, American families and workers will only receive back $800 billion in consumer tax relief — $7 paid for every $1 returned.
“The fact is that the Lieberman-Warner bill is the largest pork bill ever considered by Congress. No matter how many revisions this bill undergoes, it remains a massive redistribution of wealth, the largest new tax and spend program in our Nation’s history. The handouts being offered by the sponsors of this bill come straight from the pocket of families and workers in the form of higher gas, power, and heating bills. The newly revised Lieberman-Warner bill offers nothing new except more pain at the gas pump and more expensive consumer goods.”
Sen. Inhofe’s backround and research on the bill here.
Aside: Will anyone mention the latest report on the U.N.’s massive carbon offset waste and fraud?
Entrepreneur Herman Cain minces no words in distilling the essence of the legislation:
The Lieberman-Warner bill is a cap-and-tax energy scheme, a carbon-emissions rationing program, a new tax on businesses and consumers, a new big government central agency and new career opportunities for thousands of new lobbyists specializing in greenhouse gas regulations…
… The bill also establishes the Carbon Market Efficiency Board, which shall report on the national greenhouse gas emission market and provide cost relief measures if it determines significant harm to the U.S. economy.
Give me a break!
The people who conceived and wrote this crap are obviously descendants of the same people who wrote the original tax code in 1913, the Social Security legislation in 1935, the Medicare bill of 1965 and the out-of-control prescription drug legislation of 2004.
Just look at how well all of these “the government knows best” programs are working today, and we have a good idea of where this latest giant leap for mankind will work for our grandchildren.
The Institute for Energy Research has extensive analysis of the costs of Lieberman-Warner.