(An interesting take on Cap and Trade. - promoted by Matt Glazer)
The Cap and Trade Bill (HR 2454) is aimed at reducing greenhouse gas emissions by 17 percent by 2020 and create 'green' jobs, by putting a limit on the amount of pollution large industrial industries can output, and then if they go above that, they have to buy pollution permits. If some companies do not need all that they are allocated, they can sell their permits to companies that do.
Texas U.S. Representatives Joe Barton and Pete Sessions continue their lying campaign about the "Cap and Trade" legislation by claiming that President Obama's proposal to curb greenhouse gas emissions would cost households as much as $3,100 per year. Their 'Party of No' says it is a "massive national energy tax." However Texans and Americans need to know the $3,100 figure they keep lying about is a complete misrepresentation of both President Obama's proposal and the studies from which the number is derived.
An EPA analysis (Environmental Protection Agency) of the draft version found that the 'cap & trade' policy has a relatively modest impact on U.S. consumers assuming the bulk of revenues from the plan are returned to American households. "The EPA estimates the average cost per household to only be between $98 and $140 per year. |
And on June 19, 2009 the Congressional Budget Office announced that the average household would spend a miniscule amount to reduce global warming pollution under H.R. 2454. This independent analysis determined "that the net annual economy-wide cost of the cap-and-trade program in 2020 would be $22 billion, or about $175 per household." This is 48 cents per day, a little more than the cost of a postage stamp.
The least well off households, those "in the lowest income quintile, would see an average net benefit of about $40 in 2020." These households had an income under $20,292 in 2007. The CBO Report also states "Significantly, CBO's estimate also does not include the economic benefits of other provisions in H.R. 2454. The American Council for an Energy Efficient Economy estimates that the efficiency provisions alone could save businesses and consumers $22 billion annually by 2020. The savings would be $170 per household in 2020 -- roughly equal to CBO's cost per household estimate for ACES in 2020."
Therefore H.R. 2454, the Waxman/Markey 'cap-and-trade' bill will encourage energy efficiency measures and will actually be saving Americans and small businesses money, all while protecting the environment and enhancing America's energy security.
Three-quarters of Americans think the federal government should regulate the release into the atmosphere of greenhouse gases from power plants, cars and factories to reduce global warming, according to a new Washington Post-ABC News polll, with substantial majority support from Democrats, Republicans and independents.
What is not in dispute is why Joe and Pete are pushing this false information; it is all about the MONEY.
Pete Sessions accepted $452,577 from big oil companies between 2000 and 2008, which makes him one of the top recipients of oil money. He received $71,350 in oil contributions during the 110th Congress 2007-2008.
Sessions has consistently voted in favor of big oil companies on 90% of important oil-related bills from 2005-2007. Sessions ties to Jack Abramoff and a scandal involving earmarks benefitting campaign contributors resulted in Sessions being named in 2006 by Citizens for Responsibility and Ethics in Washington as one of the twenty most corrupt US legislators.
Joe Barton, during the 2007-2008 accepted $196,040 from oil companies and he accepted $834,386 from oil companies between 2000 and 2007. Also, he has accepted $121,050 from the coal industry. Not surprisingly Joe Barton has voted for Big Oil Companies 100% of the time based on important oil-related bills.
Barton, who has consistently prevented any Congressional action on global warming, was condemned for his stance in the Economist, which profiled him in its "Profiles In Stupidity", when Barton stated Co2 is 'harmless'. As Paul Rosenberg points out on Open Left "Joe Barton (R-TX): Dumber Than Dirt-Much, MUCH Dumber."
Americans cannot get much more of a "win-win-win" bill than Cap and Trade, but as usual Republicans such as Pete Sessions and Joe Barton are being mindless reactionaries and naysayers, protecting their pocketbooks at the expense of Americans' health and environment. As they continue spreading false information and irresponsibly demagoguing the issue, their fear-mongering is seen as a typical tactic of a political party throwing childish temper tantrums by the spoiled rich narcissistic Republicans they are.
Sadly, this behavior by Sessions and Barton falls in line with other GOP members such as Eric Cantor, John Boehner, Mitch McConnell and continues to isolate a once formidable political party into a bunch of know-nothing, do nothing, obstructionist nincompoops. |
