"The Waxman-Markey climate change bill, a 1,427-page special-interest wish list, was put together in such a rush that the allowance permit numbers don’t add up. If you add the percentage of emissions allowances to various special interests in the years 2016 and 2017 and you get a value greater than one hundred percent. That’s right—the bill allocates nearly a billion dollars worth of allowances over and above the emissions “cap” set for those respective years.
Thousands of lobbyists worked on this bill to secure a piece of the allowance pie. These special interests range from the natural gas industry to the auto industry. Even tropical rainforests made the list. Electric utilities were the big winners, receiving 43.75 percent of the allowances in 2012 and 2013. Petroleum refiners didn’t fare as well, receiving only 2.25 percent of the emissions allowances from 2014-2026. Lobbyists brought their A-game to shape this bill and Members caved into their demands, all but guaranteeing this bill will do nothing for the environment. And it comes at the expense of the ratepayer and the taxpayer.
With over 12,500 registered lobbyists in Washington, it’s no surprise that this bill turned into a feeding frenzy that was rushed through in the middle of the night and promises more than it can actually hand out. Waxman-Markey is nothing more than a huge energy tax and a handout for special interests." The Foundry
Thursday, August 27, 2009
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1 comment:
Murray sez:
While Obama has us all looking at the healthcare plan his cohorts keep moving ugly and costly legislation along and spending more tax dollars. Diversion at it's best. So, even if the trillion dollar healthcare bill fails, we that are among the living are still destined to owe more than we can ever pay.
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