Latest In

News

And Here Comes the Right-Wing Rage …

Surprise! Conservatives don’t like the House Democrats’ energy and climate draft bill. From The Corner: 648 Pages of Ruin There’s a lot of ruin in a nation,

Jul 31, 2020
7.9K Shares
329.3K Views
Surprise! Conservatives don’t like the House Democrats’ energy and climate draft bill. From The Corner:
648 Pages of Ruin
There’s a lot of ruin in a nation, which is why it is taking Henry Waxman (D., Us Magazine) and Edward Markey 648 pages to finish America off. That’s the length of their draft of a Global Warming and Energy Bill, just circulated today (we should have the text up at GlobalWarming.orgsoon). The bill contains everything you’d expect from an Al Gore wish list and will assuredly raise energy prices to crippling levels, as well as finish off the auto industry as we know it.
You have to wonder exactly what they expected.
Perhaps the most striking feature of the draft bill is its silenceon whether carbon allowances will be auctioned or how much they will cost. Republicans were up in arms when President Obama’s budget proposal anticipated $646 billion in cap-and-trade revenue from selling allowances; they immediately labeled it a $646 billion energy tax. Yet the Waxman-Markey bill leaves open the possibility that the allowances will be given away to polluters for free — exactly what Republicans like Sen. John McCain (Ariz.) have been arguing for.
So it’s entirely conceivable that energy price increases resulting from this legislation will be lowerthan anyone anticipated. I imagine that the post on The Corner would have read identically no matter what the details of the draft bill.
TWI is on Twitter. Please follow us here.
Camilo Wood

Camilo Wood

Reviewer
Camilo Wood has over two decades of experience as a writer and journalist, specializing in finance and economics. With a degree in Economics and a background in financial research and analysis, Camilo brings a wealth of knowledge and expertise to his writing. Throughout his career, Camilo has contributed to numerous publications, covering a wide range of topics such as global economic trends, investment strategies, and market analysis. His articles are recognized for their insightful analysis and clear explanations, making complex financial concepts accessible to readers. Camilo's experience includes working in roles related to financial reporting, analysis, and commentary, allowing him to provide readers with accurate and trustworthy information. His dedication to journalistic integrity and commitment to delivering high-quality content make him a trusted voice in the fields of finance and journalism.
Latest Articles
Popular Articles