The president said ’sexy’
July 3rd, 2009 at 08:04am Jennie Pollock
Tricked you into reading about the climate bill, which passed the House and faces an uphill battle in the Senate, though Barack Obama is “confident” it will pass.
Here’s the quote, from AP:
“Now, I know light bulbs may not seem sexy, but this simple action holds enormous promise because seven percent of all the energy consumed in America is used to light our homes and our businesses,” Obama said.
Here’s what the bill is all about, from the Wall Street Journal:
The 1,200 page bill — formally known as the “American Clean Energy and Security Act” — will reach into almost every corner of the U.S. economy. By putting a price on emissions of greenhouse gases, such as carbon dioxide, the bill would affect the way electricity is generated, how homes and offices are designed, how foreign trade is conducted and how much Americans pay to drive cars or to heat their homes.
The House climate bill, approved by a 219-212 vote Friday evening, would mandate that 15% of the nation’s electricity come from renewable sources such as wind and solar power by 2020, potentially expanding the market and profit potential for companies in those sectors. Towards that goal, it seeks to boost nascent industries such as wind-generated electricity and solar power. …
The nonpartisan Congressional Budget Office has estimated the bill would have a modest impact on family budgets. The CBO projected an annual economy-wide cost in 2020 of $22 billion, or about $175 per household.
Entry Filed under: In the news
3 Comments Add your own
1. Bob Trojan | July 3rd, 2009 at 9:51 am
We must be looking at the date diffefently. Here’s what I found:
“According to a 2007 study conducted by the Congressional Budget Office (CBO), reducing CO2 emissions by a mere 15 percent would cost the average household nearly 3 percent of its income. A family making $50,000 per year would be forced to pay an extra $1,400 every year for the same goods and services it purchases today”.
2. Bob Trojan | July 3rd, 2009 at 9:53 am
here’s another quote from the CBO 2007 study:
“A CO2 cap would worsen the negative effects” of “existing taxes that dampen economic activity…. The higher prices caused by the cap would lower real (inflation-adjusted) wages and real returns on capital, indirectly raising marginal tax rates on those sources of income.”
3. Mr. Funfsinn | July 4th, 2009 at 4:22 pm
http://www.wind-watch.org/documents/wp-content/uploads/schleede-wind-energy-test-obama.pdf
Author: Glenn Schleede, Energy Advisor to Gerald Ford
President-elect Obama has said that he would promote “wind farms” as one way to create more
jobs. This idea is consistent with popular wisdom about wind energy and, therefore, sounded
good while Mr. Obama was in the Senate and during his presidential campaign.
The problem for Mr. Obama now is that this popular wisdom is wrong. Contrary to reports
issued by various wind energy advocates, “wind farms” provide few energy, environmental, or
economic benefits and create very few jobs – far fewer than could be achieved if the money was
used for other investments. Also, wind energy has adverse impacts that advocates like to ignore. …
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