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A key element in President Obamas economic agenda is legislating limits on carbon dioxide emissions to combat the supposed threat of global warming. What have been given far less attention are the costs that will be imposed on the American people from implementing this policy
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Last week the U.S. Environmental Protection Agency (EPA) established monitoring rules so the federal government can track and inventory emissions of carbon dioxide and other greenhouse gases. Congress called for the implementation of such a regulatory framework back in 2007, but the Bush administration dragged its feet, leaving the work to the current administration.
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After years of being cast as the villain of global warming, the US wants to make up for lost time. President Barack Obamas ambitious environmental plans would leapfrog Europe in carbon dioxide regulation, covering about 80 per cent of US output versus less than half that in Europe. But such a shift also means a tough political haul. Huge compromises are likely, if the plan is ever passed.
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Obama spoke to the CEO’s from the world’s biggest companies yesterday and, “offered his most extensive remarks on global warming policy since taking office yesterday,” as E&E Daily (subs reqd) reports.
NEW YORK (Reuters) – If the United States gives industry too many permits to emit greenhouse gases in a future climate regulation plan, it could cut revenues that had been expected to fund tax breaks and clean energy development.
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WASHINGTON (Reuters) – The U.S. government should provide more support for the development of carbon capturing technology, but also consider technological barriers before passing climate change legislation, a coal industry representative said on Tuesday.
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A cap-and-trade program that auctions 100 percent of its pollution permits and refunds the auction revenue back to taxpayers is functionally equivalent to a refunded carbon tax — or at least as close to a functional equivalent as carbon policy is likely to get in this world.
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Democratic leaders in Congress may seek to remake U.S. energy policy in a single stroke by bundling President Barack Obamas carbon-trading and renewable- electricity initiatives into one comprehensive measure.
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U.S. President Barack Obama’s climate change plan is, by his country’s standards, a dreamy wish list.
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WASHINGTON – For the United States to play a leadership role crafting a global warming treaty, negotiators say Congress and the Obama administration must enact limits this year to reduce emissions of greenhouse gases.
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An unnamed industry group and Chicago market-trader friends of President Obama are reportedly encouraging Congress to impose a
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Gasoline prices would rise 12 cents during the first year of a U.S.-wide carbon cap-and-trade system based on President Barack Obamas budget proposal, according to research firm Point Carbon.
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Duke Energy’s CEO is already on the stump against an auction for carbon credits in a cap and trade system. The energy exec. says that it would increase the price of energy by 40% in some states. What’s his alternative? Obama should give them away for free. If carbon credits are auctioned off, then Rogers says it is nothing more than a carbon tax.
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Worried about a hot planet?
Well, then, get ready to pay for a cooler one.
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LONDON, Feb 27 (Reuters) – President Barack Obama’s first budget puts climate change at the heart of the administration’s long-term economic plan. But despite the clear theoretical advantages of a simple carbon tax, he seems set to follow the EU and California in opting for a cap-and-trade system.
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In The Washington Post, Juliet Elperin and Steve Mufson bring word that Obama’s first budget, set for release today, will assume revenues from a cap-and-trade system on carbon emissions:
WASHINGTON, Feb 24 (Reuters) – U.S. President Barack Obama’s budget accounts for revenues from an emissions trading system in 2012, White House spokesman Robert Gibbs said on Tuesday.
“That’s true,” Gibbs said when asked whether a cap and trade system for carbon dioxide (CO2) would be in place in time for revenues to be generated by 2012.
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Canadians are talking again about the environment. Just not to each other.
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With the stimulus package all but signed into law, the Obama Administration is wasting no time beginning their push toward establishing a domestic carbon market.
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The version of the economic stimulus plan proposed by President Obama could cut U.S. carbon dioxide emissions by at least 61 million metric tons annually — an impact equivalent to taking 13 million cars off the road.
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Even though Obama proposes job-destroying tax hikes on employers who emit carbon dioxide, the Institute for Liberty reports his $170 million inauguration had a total
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Some will disagree. But this is the right time to combine policies for economic recovery with policies to control greenhouse gas emissions and prevent an even greater economic disaster from climate change in the future.
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WASHINGTON – For the inauguration of a president who promised to be a friend of the environment, what would you expect but carbon-neutral inaugural balls, hybrid Lexuses, organic menus and valet bicycle parking?
Political correctness will rule the day.
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