American Clean Energy and Security Act of 2009 (ACES)
The American Clean Energy and Security Act of 2009 (ACES) (Waxman-Markey bill) was approved by the House of Representatives on June 26, 2009 by a vote of 219-212, but has not yet been approved by the Senate. This bill would establish a variant of a cap-and-trade plan for greenhouse gases to address climate change.
To view the bill in its entirety go to the HOUSE OF REPRESENTATIVES and attempt to read all 1200 pages of the bill. I'm fairly confident our Representatives have not. Let us hope our Senators read it and fail to pass it.
The Congressional Budget Office said Friday that the legislation would increase revenue by $873 billion from 2010 through 2019 and would increase direct spending by $864 billion during that time. It also said that several mandates would “well exceed” the annual guidelines set in the Unfunded Mandates Reform Act.
The bill itself was subject to many amendments prior to passage. By close of business on May 20, 2009, 2 Republican and 24 Democratic amendments had been adopted. 15 Republican amendments had been defeated. No amendment sponsored by a Democrat had yet been defeated. No surprise there.
The US Chamber of Commerce is against passage of the bill. Their analysis of the bill is fascinating reading, although a little lengthy. One passage I found particularly interesting was, "Coal and petroleum sectors are hit very, very hard by this bill. In the case of coal, the industry receives $60 billion through 2025 for funding of R&D for carbon capture and sequestration. However, the absence of this technology in early years under the cap means that fuelswitching will almost certainly occur and coal will be de-selected from the marketplace. New coal plants permitted between 2009 and 2015 must retrofit to CCS within five years or lose federal assistance. New coal plants permitted between 2015 and 2020 must use CCS at commencement of operations or else will lose federal assistance. All coal plants permitted after 2020 must use CCS. Of course, all of this assumes a coal plant will easily obtain a permit and be built at any time in the near future." I assume their use of the word "deselected" means it is going away. Readers will remember the then candidate Obamas campaign promise made prior to the election in which he stated; "
...I was the first to call for a 100% auction on the cap and trade system, which means that every unit of carbon or greenhouse gases emitted would be charged to the polluter. That will create a market in which whatever technologies are out there that are being presented, whatever power plants that are being built, that they would have to meet the rigors of that market and the ratcheted down caps that are being placed, imposed every year.
So if somebody wants to build a coal-powered plant, they can. It’s just that it will bankrupt them because they’re going to be charged a huge sum for all that greenhouse gas that’s being emitted...
I would say off hand President Obamas intentions are fairly clear on this bill as well as the other bills he has pushed through.William Kovacs, senior vice president of environment, technology and regulatory affairs at the U.S. Chamber of Commerce, said the bill would harm business: "The American Clean Energy and Security Act of 2009, a 1,200-page behemoth consisting of a cap-and-trade program for greenhouse gas emissions, a federal renewable electricity mandate, and a suite of new mandatory energy efficiency standards, will impose 397 new federal regulations (which require traditional federal agency rulemakings) and 1060 new mandates on an American public already overwhelmed by extensive federal regulation." (boldface is mine)
With the new mandates and new regulations being imposed, does anyone seriously believe our energy costs and resulting product costs will not go much higher? Perhaps more than the average lower middle class and working poor family will be able to afford? For example: American Farm Bureau economists estimate permit costs for cattle and cash-crop acreage could skyrocket under the new proposed regulations. Agricultural operations primarily emit methane from rice and animal agriculture operations, and nitrous oxide from fertilizer applications and animals. The potency of these two gases is greater than carbon dioxide; thus CAA regulation would affect even small to mid-size farms according to Missouri Farm bureau officials. This will result in higher meat prices for a start. The same principal works in other manufacturing, merchandising, and construction arenas of business.
According to Washington Watch dot com passage of this bill will cost the average person in the USA $3,885, average couple $7,770, the average household will pay $9,985 and the average family will end up paying $12,161.
In the second paragraph I referenced $873 billion. Any idea where that amount of money comes from? You might recall the words of Rep. John Dingell (D-MI), the former head of the Energy & Commerce committee, who said in April: "Nobody in this country realizes that cap and trade is a tax, and it's a great big one." Another Democrat who recognizes this bill for what it really is? W&M Chairman Charlie Rangel: "Whether you call it a tax, everyone agrees that it's going to increase the cost to the consumer. At the end of the day ... if there's nothing there to repay [consumers] for their financial expenditures, it might be difficult to fight Republicans who call this a tax."
Will we really get hit with higher energy costs? Why not ask Obama to say in his own words?
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I can't believe they let this one slip through. I have to hope those 8 Republicans' careers are over after this term. WTF were they thinking? With phone calls to Washington so numerous that the lines were practically shut down, and 10/1 against the bill, I'm stunned they voted this way. Senate is talking about passing their own version or a highly tweaked version of this one. It won't be until later in the year, which means nothing will probably take effect in time to piss people off for the 2010 election. I'm really ill about this one.
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