Global warming bill becomes another Washington porkfest Opinion Articles

Rather than stopping the rise of the oceans, President Barack Obama’s push for greenhouse gas regulations is turning into another all-you-can-eat porkfest. As Rep. Henry Waxman, D-Calif., prepares to introduce a climate bill in the House Energy and Commerce Committee he chairs, big businesses and their well-connected lobbyists are lining up with the hope of getting rich off these regulations.

An early winner looks to be the power companies, represented in Washington by the Edison Electric Institute. U.S. automakers, soon to be controlled in part by the labor unions who so generously fund the Democratic Party, are also among a handful of likely beneficiaries of this legislation.
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Cap-and-giveaway is not a matter of toothless regulation as much as an instance of regulatory robbery. The companies being given free credits are not being given free passes from new regulations—they are actually being given free money.

The price the government charges for GHG credits doesn’t determine the price at which the credits will sell on the open market. A free GHG credit is not worth zero just as a World Series ticket won in a sweepstakes is not worth zero. The price will be set by supply (how many total credits, auctioned or given away, are in circulation) and demand (the difficulty of reducing emissions and the fine for over-emitting).

So, when government gives credits to electric companies, it is simply giving money to those companies while making it more expensive for everyone else to do business. The utilities could sell the free credits unless Congress prohibits selling some credits, which would defeat half the purpose of cap-and-trade.

Viewpoint: The high cost of climate fear-mongering -- baltimoresun.com

There you have it, a perfect piece of legislation: ridiculously expensive and totally ineffective in its stated purpose - so in keeping with the times.

American Thinker Blog: More Carbon: The Only Answer to Global Freezing

Etcetera ad infinitum. You've heard it before. Just flip the temperature story from high to low. The polar bears are all going to live, but the desert jackals are all going extinct. Along with James Hansen and the other global fraudsters.

Now watch the political class jump on the Global Freezing bandwagon. They don't care. Doom is doom! Money is money. Power is power.

Global Freezing? Goody! It's another jackpot!