CBS Frets Energy Cost, Skips Impact of Bill to 'Fight Global Warming'

Photo of Brent Baker.

After leading Friday's CBS Evening News with Morgan Stanley's prediction of $150 barrel of oil by the 4th of July and reporter Anthony Mason citing the “runaway price of energy,” anchor Katie Couric delivered a short item on how “today the Senate gave up on legislation to fight global warming.” Couric explained that “faced with a Republican-led filibuster, Democrats withdrew their proposal to cap carbon emissions from power plants and factories,” but she failed to make the connection to how the “cap and trade” bill would raise the price gas and other energy.

In a Monday column, Robert Samuelson, who dubbed the bill “cap and tax,” reported: “The Congressional Budget Office has estimated that a 15 percent cut of emissions would raise average household energy costs by almost $1,300 a year.”

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With “Climate Change Bill” on screen, Couric read this 30-second update:

Senators McCain and Obama both said they supported the bill, but today the Senate gave up on legislation to fight global warming. Faced with a Republican-led filibuster, Democrats withdrew their proposal to cap carbon emissions from power plants and factories. That leaves the issue to the next Congress and the next President.

Neither the CBS Evening News nor NBC Nightly News mentioned the bill.

Meanwhile, on Friday's NBC Nightly News, after CNBC shouter Jim Cramer asserted that $150 barrel of oil will translate into $5.50 for a gallon of gas, anchor Brian Williams ended the q and a by lamenting: “And sooner or later maybe an energy policy will come forward.” Cramer called that “a real leap of faith.” Williams regretted: “Yeah, that's true.”

An excerpt from Samuelson's June 2 column, “Just Call It 'Cap-and-Tax,'” in the Washington Post:

....Carbon-based fuels (oil, coal, natural gas) provide about 85 percent of U.S. energy and generate most greenhouse gases. So, the simplest way to stop these emissions is to regulate them out of existence. Naturally, that's what cap-and-trade does. Companies could emit greenhouse gases only if they had annual "allowances" -- quotas -- issued by the government. The allowances would gradually decline. That's the "cap." Companies (utilities, oil refineries) that needed extra allowances could buy them from companies willing to sell. That's the "trade."

In one bill, the 2030 cap on greenhouse gases would be 35 percent below the 2005 level and 44 percent below the level projected without any restrictions. By 2050, U.S. greenhouse gases would be rapidly vanishing. Even better, their disappearance would allegedly be painless. Reviewing five economic models, the Environmental Defense Fund asserts that the cuts can be achieved "without significant adverse consequences to the economy." Fuel prices would rise, but because people would use less energy, the impact on household budgets would be modest.

This is mostly make-believe. If we suppress emissions, we also suppress today's energy sources, and because the economy needs energy, we suppress the economy....

As emission cuts deepened, the danger of disruptions would mount. Population increases alone raise energy demand. From 2006 to 2030, the U.S. population will grow 22 percent (to 366 million) and the number of housing units 25 percent (to 141 million), the Energy Information Administration projects. The idea that higher fuel prices will be offset mostly by lower consumption is, at best, optimistic. The Congressional Budget Office has estimated that a 15 percent cut of emissions would raise average household energy costs by almost $1,300 a year.

That's how cap-and-trade would tax most Americans. As "allowances" became scarcer, their price would rise, and the extra cost would be passed along to customers. Meanwhile, government would expand enormously. It could sell the allowances and spend the proceeds; or it could give them away, providing a windfall to recipients. The Senate proposal does both to the tune of about $1 trillion from 2012 to 2018. Beneficiaries would include farmers, Indian tribes, new technology companies, utilities and states. Call this "environmental pork,"...

A tax is more visible and understandable. If environmentalists still prefer an allowance system, let's call it by its proper name: cap-and-tax.

—Brent Baker is Vice President for Research and Publications at the Media Research Center


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The ends always justify the

The ends always justify the means. If it's a choice between saving five hundred trillion dollars and between saving the planet for our children, I know which choice I'd take.

As long as I didn't have to pay a dime.

And as long as I can keep my private jet, too.

Howsy PT...That Carlin

Howdy PT...

That Carlin video is hysterical...I passed that on to just about everybody on my email list awhile back...if any of you haven't seen it...it is worth your time...funnier than all get out...the truth too!

"Never murder your opponent when he is committing suicide." ~ W. Wilson

Fantastic video, that.

Fantastic video, that. Thanks for posting it.

 

------------------------------------------------------------

"It could be the answer to our age-old, philosophical question. Why are we here? PLASTIC!"

I got a BIG problem with this...when the MSM does NOT report

When the MSM see's fit to NOT report From Congress what is going down, when the MSM does NOT report from IRAQ the pending Victory, When the MSM has a BIG story on the "Fist Punch" between ObamaRama and Michelle from hell, I've got a HUGE Problem with the MSM and Company.

Here, Let me FIX it, the ONLY way I know how....

CLICK (OFF the TV)

CLICK (on the Miltary Blogs, the Polictical Blogs, Free Republic, Town Hall, RUSH, etc..etc...etc..etcetera)

Enter Truth, Exit B.S.

For a good example of

For a good example of carbon offsets and "cap & trade" check out this Telegraph UK article by a writer who calls herself "The Dulwich Mum."

She explains how her husband claims that by going to work every day, he is actually "improving" the environment. It's a classic case study of rationalization and magical thinking.

Her ending is priceless:

As far as I can ascertain, carbon offsetting is like kicking the dog and giving money to the RSPCA, but simply all the best people are doing it, darling.

Congress can't change the Cost of Gas...how they gonna do this?

Congress must think they are the Messiah...pass a bill, change the Climate. Right.

If there a Cannibus Problem in DC ?

Is Ted Kennedy Giving Parties ? Did they Take out too much of his Brain ?

Wait a minute....A serveral Trillion Dollar COngressional Bill ? ? ...means enough Pork for All...Now I understand...

Congress can't change the

Congress can't change the cost of gas???????

But...but....but....Her Speakerness SAID in 2006 that the Democrats had a PLAN to lower the price of gas!!!!

 

Mamacita..what you are telling me is, Congress does have the

COngress DOES have the Power to Change the Price of GAS...THE WRONG WAY...Upwards, not DOWN.

I'd Like to Understand Pelosi's View of Gasoline Prices...but I can't get My Head that Far up my Ass.....

Exxon doesn't KILL Polar Bears !!!

Americans are gonna Kill off the Curent Representatives in COngress.....Pelosi and Company are now Officially an Endangered Species of "DooFUs".
I have added their Names to my Endagered Species List.

 

Yes, they can, drill, drill, drill

U.S. Policies Put Most U.S. Oil Off-Limits to Drilling 
Huge basins of untapped oil can be found on federal lands throughout the nation, but much of it may never be recovered.

No wonder the Dem controlled Congress approval rating is 18%, worst in history. Yes Pelosi in fall of 2006 said "I guarantee you I will get the cost of gasoline and diesel fuel lowered!"

I say what the H happened!

A Bit long but....

 

 

 

An Arm and a Leg

 

Peter Foster

National Post, June 6, 2008

 

Let’s say that a bunch of tribal
chiefs, having realized that they are in danger of being exposed as useless
parasites, consult with their witch doctors and announce that the Gods are
angry. These vengeful Gods are demanding that every tribesman (except chiefs and
witch doctors) must have either an arm or a leg amputated. Being eager to be
seen as good chiefs, they agree to consult with the tribesmen. Not about the
anger of the Gods, of course. That’s settled. Instead, debate is to be allowed
on the relative merits and defects of being one-armed vs. one-legged. Should
individuals be allowed to choose which limb to lose? How much of a limb should
be sufficient for divine appeasement? Below the knee? Above the elbow? Some
bright spin/witch doctor might even suggest that this mass amputation would
represent a marvellous opportunity to stimulate economic growth via the
development of a prosthetic limb industry. Once the benefits of this new
industry were taken into account, the Gods’ anger might prove a net benefit, a
golden opportunity.

But then suppose some
emperor’s-new-clothes kind of individual comes along and says, “Hang on, what
proof do we have the Gods are angry? And where are these Gods anyway?” You might
be sure that if they couldn’t rip his heart out straight away, the powers that
be would engage in much agitated jumping and hooting. “Infidel,” they would
scream. There would be dark whispers that this person must be in league with, or
in the pay of, the Devil, X’on. How dare he doubt the shamans, among whom there
is consensus.

Just substitute “catastrophic
climate change” for “angry gods,” carbon taxes vs. cap-and-trade for amputating
arms vs. amputating legs, and “Denier” for “Infidel,” and you pretty much have
the substance of the present climate change policy debate.

We are being asked to countenance
destructive but pointless alternatives in the name of quasi-mystical beliefs
pushed by authorities seeking primarily to bolster their own flagging power and
status.

The radical
environmentalists/shamans who are pushing this policy debacle positively welcome
such announcements as this week’s closure of GM’s Oshawa truck plant. David
Suzuki, as part of the Post’s series on carbon taxes, suggested that the GM
closure was the price of failing to adopt suitable climate change policies. But
people are abandoning truck purchases because of expensive gas, which has
nothing to do with climate change. Meanwhile, politicians — indicating the Alice
in Wonderland nature of the debate — are suggesting that they might use carbon
taxes to reduce fuel prices. Let me cut your arm off and immediately sew it back
on. There you are: good as new.

The overarching nonsense is the
twin claim that the science of climate change is settled, and that it represents
the greatest crisis facing the planet. As last week’s Copenhagen Consensus, the
wonkish exercise convened by leading skeptic Bjorn Lomborg, noted, draconian
action on man-made climate change, even if it is a reality, comes well down the
list of sensible priorities for achieving a “better world” (dangerous notion
though that may be).

Even more nonsensical is the
assertion that economic selfmutilation might be good for us. Yet another canard
is that a carbon tax is preferable because it’s “more stable.” As my colleague
Terence Corcoran has suggested in this space, a carbon tax provides no certainty
for the simple reason that nobody knows, or can know, what the “right” level of
taxation should be. In fact, there are only wrong levels of carbon taxes, since
they are taxes on industrial activity, and thus inevitable destroyers of growth,
jobs and trade. Most important, they cannot be set at any level that would
actually achieve a drastic reduction in carbon dioxide emissions without
decimating economies.

We are meant, however, to be
distracted from this fact by claims that such taxes could be “revenue neutral,”
that is, governments would reduce taxes elsewhere by a similar amount. This is
analogous to chopping off a leg and offering the victim a prosthetic arm. Limb
neutral! In fact, anybody who imagines that the tax would not stick to
governments’ hands, or be hosed away subsidizing dead-end,
drunk-under-the-lamppost technologies, is no student either of human nature,
politics or history. Or else he or she is a power-deluded
politician.

Again, when it comes to
certainty, a carbon tax at any level, or any fixed level of escalation, creates
anything but certainty since it carries us into a world of escalating
anti-economic warfare. Amputating our own economic limbs means that we must be
certain that others amputate their limbs, too. Otherwise we must punish them
with “excess limb tariffs” to level the playing field. This could soon
deteriorate into all-out trade war, and/or sink beneath the deadweight of
bureaucratic edict. Then we would be facing a potential “carbon depression,”
which wouldn’t leave investment looking so certain at all.

Cap-and-trade is equally
ridiculous, a parody of a market that would merely ensure an enormous expansion
in corrupt and/or incompetent bureaucracy. It would also cause similar economic
devastation if caps were set at levels that were to achieve the allegedly
required drastic greenhouse gas reductions.

Mr. Suzuki suggested that a
massive “Green Wave” is headed our way. His analogy is perhaps more revealing
than he intends. We are indeed facing a tsunami of needless policy destruction.
Fortunately, people are finally beginning to appreciate what this charade will
cost them: an arm and a leg.

Arcadian17 plus 38

Your Post exceeds the Reading Comprehension capabilities of the Nearest Congress Person by 600 %.

Please Round off your post to the Nearest Million Dollar Pork barrell Option, or insert some Racists Comments for the MSM to Report.

I'll get back with you in 3 days, I'm still Reading......   

 

Double long LOL

Seems to have double pasted into the same post. Worth reading however! It is critical to let all people know what a scam this stuff is. MSM not helping. Now even REPS are bowing down to the green gods. Crazy.

ooops! Sorry

I wanted to make sure you read it twice! :-)

 

http://www.friendsof...

Arcadia Digest...the Condensed Version

A Green Wave of Screaming drunk-under-the-lamppost wonkish Congress People, are Threatening to Dis-member the Infidel Tribal American Populace with Mass Amputations under the Disguise of Carbon Nuetral Taxation, that will instead create A "Carbon Depression" that only some Guy names Suzuki can prevent.

There, It's translated into Texican.

"Mr. Suzuki suggested that

"Mr. Suzuki suggested that a massive “Green Wave” is headed our way."

Green wave? More like a B-rown S-melly one.

Ethanol worked out well and so will cap & trade!

Let's see, what was the last thing the media claimed would save the planet from burning up into a crisp and reduce energy costs? Ethanol wasn't it? I seem to recall these clowns in the media regretting that position recently due to the "unforseen consequences" of turning a food supply into fuel (something that even a 4 year old child could forsee). Now these airheads seem to think that cap & trade will save us all despite the already stated consequences that it would do nothing to change the climate in a positive or negative direction but it would help ruin the economy rather quickly. Anyone in support of this ludicrous legislation is a shame to the human race for their outright stupidity for not looking into an issue with their head but solely based on their emotions they found that they had after watching Al Gore's slide show.

 

no kiddding!!

There was an interesting correlation I saw recently... In the book of revelation it talks about how, "the people will burn their food"....

regardless of that though.. it's rather short sighted to turn food into energy.  regardless of the fact that it comes out short in the end anyways.

since when...

has science or facts mattered in the passage of laws?

Anyone remember the following:

1) DDT trials that lasted for months and found that DDT is the safest pesticide out there and the end result of the trial is that DDT use would be beneficial to mankind.  What did the EPA do though?  Ban it.  Europe followed suit resulting in what we have today with third world countries afraid to use it, lest they not be able to sell their goods to western countries.

2) The Ozone debacle.  There is _VERY_ little science supporting the connection of CFC being an ozone depletion gas.  If anything our 30+ years of monitoring of the Ozone has shown is that it ebbs and flows with the strength of the sun, and the strength of winters.

3) The acid rain debacle.  Again this was a case were actual science and numbers didn't matter a damn.

4) The recent polar bear "threatened species" listing.  Polar bears are anything but threatened... but once again our congress acting for a VERY small minority passes a law to hurt us all and make life more expensive.

I believe Michael Crichton in one of his speeches or essays (all worth reading and re-reading) stated that it only takes a species one small behavioral change to make it cause self-extinction.  I believe (and I think his point was the same) that environmentalism as a religion is that change.