Obama claims that the oil spill in the gulf shows why Can ‘n Tax is necessary.
Cap ‘n Tax has nothing to do with the oil spill. It’s all about placating the dem’s liberal, eco-wacko fringe. Cap ‘n Tax directly attacks coal and gas fired power plants among others. It attacks oil refineries, not oil drilling platforms. It’s just another excuse to take over another segment of our nation’s economy.
The EPA released its analysis of the Kerry-Lieberman version of Cap ‘n Tax and parrots that of the Waxman-Markey version submitted in the House. In both instances the EPA claim that by 2050 the bills would only impact American households by $146 per year. A bald faced lie.
It’s a lie. Every benefit, every cost, every claimed goal in both versions are lies. The proposals won’t even effect global carbon output since China and India are pushing ahead with rapid industrialization with no regulation of pollutants—carbon included. The net result of the Obama’s claims for Cap ‘n Tax would have no affect whatsoever on either China or India. It’s all flash and show producing no benefit nor is even cost-effective.
The Heritage Foundation has posted an analysis of the EPA report and documents the errors and false assumptions.
Most misleading in the EPA analyses of cap and trade is the use of discounting. A discount rate is an interest rate used to find present value of an amount to be paid or received in the future. In other words, present value analysis answers the question: How much would I have to have today in order to meet my financial obligations or pay certain costs in the future? Discounting is a legitimate tool in finance and for cost-benefit calculations. But discounting can give a much distorted view of costs, as is done by those misrepresenting the EPA analysis.
So. An oil platform in the gulf explodes and Cap ‘n Tax would have prevented it? Cap ‘n Tax would have done nothing. It’s becoming more and more clear that Obama has no intention of responding to the situation in the gulf because he thinks the American public is stupid and will roll over on more taxes and more regulation on the oil industry which is already to most heavily regulated industry in the country.
No, it’s just another ploy to seize an industry like Obama has done to the auto industry, healthcare and banking. What is more amazing is how Obama turns against those who support his agenda. BP was a supporter of Obama’s Cap ‘n Tax.
From another Heritage Foundation report…
Now that the Deepwater Horizon oil spill has turned into an environmental disaster, the White House is again trying to turn public anger at one corporation into massive government intervention of an entire sector of the economy. In an email to his leftist Organizing for America activists, President Barack Obama previewed his Oval Office address tonight calling on Congress “to move forward on legislation to promote a new economy powered by green jobs, combat climate change, and end our dependence on foreign oil.” Separately, Joel Benenson, a pollster for the Democratic National Committee and Obama’s presidential campaign, circulated a memo on Capitol Hill arguing that a comprehensive energy bill “could give Democrats a potent weapon to wield against Republicans in the fall.” Politico reports that Benenson’s recommended “messaging architecture” includes the slogan “Making BP Pay Isn’t Enough” and adds: “frame the opposition” as “Big Oil and corporate polluters who have blocked energy reform for decades” and “politicians protecting the special interests that fund their campaigns.”
The irony here is that BP has been a special interest pushing for carbon pricing on Capitol Hill for years now. It was a founding member of the U.S. Climate Action Partnership, a corporatist entity that exists to enact “fair climate change.” And of course by “fair” they mean whatever subsidies and mandates they can extract from the federal government to best protect their bottom line. So this February, BP actually pulled out of USCAP because they thought: “We can be more effective if we show up in the discussion as BP.” As The Washington Examiner’s Tim Carney reports: “They made out particularly well in the House’s climate bill, while natural gas producers suffered.”
No, BP was a tool. A means to an end all the while more oil is bubbling in the gulf. I heard a radio interview yesterday by another oil driller that said the oil won’t stop until the two relief wells are finished—if the US government bureaucracy will allow it.