The President thinks his plan will “boost the economy by $43 billion to $74 billion” – he’s living in a fantasy world.
From Bloomberg (apparently one of those “read in” to tomorrow’s announcement): President Barack Obama will propose cutting greenhouse-gas emissions from the nation’s power plants by an average of 30 percent from 2005 levels by 2030, according to people briefed on the plans.
The proposal, scheduled to be unveiled by the U.S. Environmental Protection Agency tomorrow morning, represents one of the boldest steps the U.S. has taken to fight global warming — and a political gamble.
Obama signaled both the importance of the rule to his legacy on environmental protection and the bruising fight ahead by joining a conference call today with congressional Democrats, EPA Administrator Gina McCarthy and White House counselor John Podesta to rally support.
Obama dismissed complaints that the rule will hurt the economy by driving up electricity prices, and told the Democrats listening: “Please go on offense” to promote the plan’s benefits, said two people who were on the call, including Representative Gerry Connolly, a Virginia Democrat.
Connolly and another person on the call said the president suggested that rather than having an adverse effect on the economy — as critics say — his rule to limit carbon pollution will boost the economy by $43 billion to $74 billion.
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See the U.S Chamber of Commerce response here:
Assessing_the_Impact_of_Potential_New_Carbon_Regulations_in_the_United_States
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Raising my power bill 30%, and my employer 30% will increase housing sales as many will be forced to sell and move into rentals.
The poor will simply get a 30% subsidy with their welfare checks.
Does anyone know what the ‘plan’s benefits’ are?
What is the carbon footprint of our military?
30 percent of 2005 levels is back to 1950’s levels.
When I hear a government flunky talk about Carbon Polution I remember Ralphie trying to guilt his parents with blindness caused by Soap Poisoning.
Blowback Mountain: http://www.zerohedge.com/contributed/2014-05-31/hite-stack-mountain
Stupid is as stupid does.
Self Destruction?
if the key to boosting the economy is higher electricity prices, why didn’t he triple them after the GFC?
I simply hate moves like this. No matter what anyone thinks of climate change, an all-out assault on CO2 makes no sense whatsoever. Solar? Wind? Are they crazy? And Obama thinks this move will strengthen the economy? Is he out of his mind? If I agreed with what he is doing, I’d at least be honest about the effects: more expensive electricity, possibly the rationing of electricity, and a drop in living standards. The poor will get eviscerated. There’s no good here, unless you’re delusional, which is what you’d have to be to try and pull this off without first telling us how many nuclear power plants (thorium please) you were going to build to make up for lost coal power.
I despair.
the benefits will reside entirely in the hypothetical. First will be the increased lives and livelihoods due to less “particulates” and other over-hyped “pollutants” (CO, NOx, etc.) and then the supposed “benefits” of the forced economic activity and being at the cutting edge, which will supposedly benefit us when the rest of the world jumps off the same cliff and we can help teach them and supply them with rope to hang themselves.
The whole thing is a farce that only pinheaded bureaucrats and fantasy world policy winks can (and do) love.
I for one like the finesse of your “Government idiocy” tag.
New Zealand goes into election mode thus:
The Green Party wants to introduce a carbon tax to replace the troubled Emissions Trading Scheme. http://www.3news.co.nz/Greens-propose-carbon-tax-tax-cut-package/tabid/1607/articleID/346651/Default.aspx
I guess at least if everyone were poor there would be no gap between the rich and poor!
Elections have consequences, and certain “conservatives” who sat out the last election should be looking in the mirror.
Obama must be smoking something to think this will boost the economy. If he is that would increase CO2 oh dear.
Higher energy prices and increased taxes….especially to heavy industry. It takes a lot of money to run a welfare state. Germany is trying to deal with the same consequences and it seems the people are staying silent in the face of the Green machine. I would bet the same thing won’t happen here. Americans….of every stripe….don’t like taxes.
tz2026 says:
June 1, 2014 at 7:43 pm
What is the carbon footprint of our military?
What’s the carbon footprint of the Executive branch of our government? (All agencies and bureaus EXCEPT the military)
He is desperate to shift attention from the disaster that is his term, and stupid enough to think this will help.
Appreciate the multiplier effect since energy costs are suffered at each and every processing and delivery step of each product we buy.
German citizens do not have the means or the avenues of resistance that the US has….they gave that up with gun control. They can be pushed farther and harder.
Warrick says:
June 1, 2014 at 8:04 pm
New Zealand goes into election mode thus:
The Green Party wants to introduce a carbon tax to replace the troubled Emissions Trading Scheme.
The ETS isn’t “troubled”. It’s doing exactly what its planners wanted it to do. Keep us officially as being concerned about carbon dioxide, but actually not doing anything at all ruinous. Actually, barely doing anything at all.
Poor people burn dirty fuel. Rich people burn clean fuel. Do the math. I have a coal seam outcropping on my farm. If I have to, I will burn every last stinking BTU I can dig out of the ground before I let my wife and kids freeze.
The President thinks his plan will “boost the economy by $43 billion to $74 billion” – he’s living in a fantasy world.
It’s going to need a lot more than that to offset the fall in GDP that seems to be coming …
Wow…
Time to move up here to Canada? And not Ontario…