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Sapping America's Energy

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An opinion article in the Wall Street Journal identifies the means by which the US will be subjugated by the fascist Obama administration.

"Waxman-Markey would put big government in charge of how much energy people can use. It would be the biggest government intervention in people's lives since the second world war, which was the last time people had to have rationing coupons in order to buy a gallon of gas." And for what? According to the U.N. Intergovernmental Panel on Climate Change, the Earth's average rate of warming in the 30 years from 1977 to 2007 was just 0.32 degree Fahrenheit per decade, and the global surface temperature has remained virtually flat since 1998.

The Waxman-Markey bill contains some serious mistakes. Slighting nuclear power is one. Nuclear plants generate no carbon dioxide or other pollution, and the 104 already in operation provide America with 73% of its CO2-free electricity generation. It is estimated that each new nuclear plant would employ some 2,000 workers to build and 500 to 600 people to operate. America could use some 40 more nuclear plants, but in the Waxman bill and the Obama administration's policies, additional nuclear power plants are likely nonexistent.

Cap-and-trade policies are another part of the bill intended to give the government more regulatory authority over the energy industry and a great deal more money--perhaps trillions of dollars--some of which would be available to grant to favored people and industries. The bill's outline does not say who would the energy allowances free, who would have to pay for them, and how much they would pay, but it does intend to make energy much more expensive and less available to consumers. Electricity, oil and large manufacturing businesses (which are jointly responsible for 85% of America's greenhouse emissions) would have to obtain at some price federal government pollution permits--"tradable federal permits," or "allowances," for each ton of CO2 emitted into the atmosphere. These permits would require reduced plant emissions over time, from a mandate of 3% below 2005 levels in 2012, to 20% in 2020, 42% in 2030, and 83% in 2050.

Another economic mistake at the core of the Waxman bill is the reinstatement of protectionism. Since America's energy restrictions would not apply to manufacturers of goods America imports, unregulated foreign companies could sell their goods in America at lower costs, and thus U.S. manufacturers could be "put at a disadvantage relative to overseas competitors." The Waxman bill would seek to remedy this by making companies eligible for rebates determined and allocated by Washington. If the president found that the rebates "do not substantially correct competitive imbalances" he could establish what Mr. Waxman calls a "border adjustment program" that would require foreign companies to pay for special allowances to "cover" the "carbon contained in U.S.-bound products."

America Sapped

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