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Don't believe the scary stories. The House bill on global warming won't sent energy prices soaring
Published on Thursday, Sep 03, 2009
If anything, the town hall meetings regarding health care have been instructive, scare tactics, exaggerations and falsehoods readily surfacing in the discussion. On climate change, John Boehner of Ohio asserted that the House bill would cost the typical household $3,128 per year by the middle of the next decade. He pointed to a study from the Massachusetts Institute of Technology — until the author of the study corrected the House Republican leader, noting that by the study's calculations, the legislation would cost households an average $340 per year.
Of late, oil companies have led the way in spreading fear, warning about ruinous energy costs, especially in this part of the country. Better to pay attention to the projections of the Congressional Budget Office, which doesn't have as much at stake.
The budget office calculates that the House bill would cost each American household $175 a year by 2020. That's less than 50 cents per day. More, the analysis found that the poorest 20 percent of households actually would save $40 a year. The annual tab for the wealthiest 20 percent would be $245.
The federal Energy Information Administration has reached similar estimates.
At bottom, the House bill isn't the vehicle for accelerating costs that critics contend. The legislation contains various protections, including direct funding that permits a generous transition for industries dependent on oil, coal or natural gas. The bill also features assistance that eases the burden for industries competing in the global marketplace.
Henry Waxman of California and Edward Markey of Massachusetts, the two leading Democratic architects of the legislation, struck a realistic compromise. They looked for balance among the competing interests, providing a longer transition for industries in exchange for the country at last commiting to precise targets and a specific mechanism for reducing carbon emissions, the culprit in climate change.
The mechanism is the process of cap and trade, using market principles to lower emissions. The initial target is a 17 percent reduction (below 2005 levels) by 2020. That hardly is onerous.
As it is, the steep challenge will come after 2025, lawmakers betting that by then advanced technology will be available and the country will be better prepared to cope with rising energy costs. What the country would achieve now is the leverage required to exert influence in Copenhagen, the international community coming together at the end of the year to craft a broad agreement on combating climate change. That is why the Senate must be careful in addressing the House legislation, avoiding harm to the essential compromise, recognizing the opportunity for American leadership.
Get the full article here.
Comments
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Posted 07:02 AM, 09/03/2009
When are they going to learn that you can't controle the weather?
Akron, OH
Posted 07:48 AM, 09/03/2009
No ed, you are correct, but they can control the people... I really do not get why people can not see this.
New Richmond, OH
Posted 09:23 AM, 09/03/2009
NASA now says the earth has actually been cooling for the last ten years. So why sign on to a bill that will increase energy costs for every American? China and India have refused to sign on to this bill. They realize the economic consequences. They see the benefits if the Climate Change bill passes. Ohio has already lost over 100,000 manufacturing jobs because of the recession. If this law passes; the only exports leaving Ohio will be our jobs.
Akron, Oh
Posted 11:14 AM, 09/03/2009
does anybody get the picture that if alternative energy was actually legit, it would just be called energy? The government is forcing electric cars onto america, when every auto maker has stated, electric cars are not the way to go. They cannot be produced and be cost effective. Oh yeah electric comes from the coal factories the government wants to tax, How can that not raise energy prices.
Akron, Oh
Posted 11:16 AM, 09/03/2009
We just had the coldest summer in decades, global warming? now they are saying the cold is from global warming, you cant have it both ways.
Cleveland, OH
Posted 09:56 AM, 09/04/2009
The Congressiional Budget Office does not take into account one very critical point; the multiplier effect of these disastrous new taxes on energy.
For example, it does not build in the higher costs of fuel and energy into food, clothing, automobiles, anything we buy. Corporate America will pay much more for products, particularly food, and will pass along those costs to consumers.
But what the CBO does not address is that American Manufacturing and Industry will virtually cease to exist. Asian countries like India and China love these jobs that the Democrats and Environmentalists are willing to throw out of the country. So bye-bye middle class and strong working class jobs, and hello a "lost decade" of leftist nightmare that we will never wake up from.
Kiss your manufacturing and energy jobs good bye, America. That's what Hope and Change are all about.
clinton, oh
Posted 11:09 AM, 09/05/2009
The point is Global Warming is not the result of Human activity.
There is no point in any legislation pertaining to
Global Warming except control and taxes on the
populations.
Research on this topic points out that in the overwhelming majority, that there are far far
more scientists saying "No" to human involved
climate activities and an Overwhelming "NO"
that Global Warming exists.
Salem, Oh
Posted 10:39 AM, 09/07/2009
Congratulations to the Beacon Journal for running this wonderful article. There are so many scary stories and so much misinformation out there about the cap and trade bill that many people believe without bothering to find out for themselves the correct information. Healthy skepticism about any change is good. Be skeptical and look into it and find out for yourself. But, cynicism does not benefilt anyone or any cause. I would gladly debate this issue with anyone skeptical of it, but doing so with someone cynical of it would be a complete waste of time. There are those cynics out there who still believe that the earth is flat and that man never walked on the moon. How do you argue with that?
