At least that’s how anything and everything that Congress ever thought about doing is being spun. Henry Waxman is now promising to pass some kind of climate legislation before Memorial Day. And he’s found a way to sell it:
Rep. Henry Waxman, D-Calif., opening the new Congress’ first hearing on the threats from global warming, said inaction on the climate issue is causing uncertainties that make it more difficult to emerge from the recession.
“Our environment and our economy depend on congressional action to confront the threat of climate change and secure our energy independence,” said Waxman. “U.S. industries want to invest in a clean energy future, but uncertainties about whether, when and how greenhouse gas emissions will be reduced is deterring these vital investments.”
The hubris of politicians is just stunning. Climate legislation? When did Congress acquire the ability to control the climate through legislation? Note to Henry Waxman: the uncertainty can be removed if you just announce that you don’t plan to do anything monumentally stupid, like enact a cap and trade system which has failed miserably in Europe. Why do politicians think that something that has already been proven a failure wil work if they just put their name on it?
Waxman even had a convention of bootleggers and baptists to back him up:
To dramatize the business community’s growing consensus that the climate issue must be confronted, Waxman invited to the first hearing 14 corporate executives and environmental leaders who have pressed for an 80 percent reduction in greenhouse gases by 2050.
The 14 executives and environmentalists sat shoulder to shoulder across at a witness table spanning two-thirds of the Energy and Commerce Committee hearing room.
I think we all know why the environmentalists were there but why would executives from Duke Energy, Conoco, GE and others want climate legislation? The only conclusion one can draw is that they expect to get something from the legislation. And lo and behold, Waxman favors giving away carbon emission allowances to – guess who? That’s right companies like Duke Energy, Conoco and GE. Waxman is creating a favor that Congress critters like him can dole out to their favored constituents.
I have said before that I would favor a carbon tax as long as it was offset by tax cuts elsewhere. Cap and trade is a backdoor carbon tax that gives politicians the power to hand out valuable emission permits and there has been no talk of offsetting it with tax cuts elsewhere. Who will pay? I think you know that it is us that will pay for Waxman’s environmental boondoggle. Energy prices will rise so we’ll pay at the pump and in our electric bill so that Henry Waxman can enhance his power. Stimulus? Not a chance.