Sen. Sheldon Whitehouse (D-R.I.) said President Obama’s upcoming plan to impose new greenhouse gas regulations could create traction for carbon tax proposals
Obama climate plan ‘could create traction’ for carbon tax | JunkScience.com
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Big Government as the gatekeeper of all your energy needs is coming. Energy prices will necessarily skyrocket.
Have you set a budget for your new tax?
Don’t worry, I expect there will be many unintended consequences of making ‘electricity prices skyrocket’.
I hope you’re right BL.
Should make voters happy in the 2014 mid-terms. Voters love taxes.
Voters love Big Government giveaways.
slimething, not as much as you think. Taxes will destroy the Democrats in 2014 and 2016.
Reblogged this on Gds44's Blog.
These are truly evil people, only interested in finding ways to take more money from working people and spending more on anything they please. They have no intention of ever reigning in spending. As our Undocumented Worker-in-Chief said at an all black rally, “Next term we have to figure out how to pay for all this stuff.” It’s a Give Away America Program.
As it has been stated, ‘You can’t beat Santa Claus’.
The US energy coal industry has been pole axed by the ultra cheap gas prices over the past few years. I’m wondering what Obama would apply the carbon tax too? Struggling coal producers who will be finally sent out of business? Zero tax revenue there. I wonder who shorted the stocks of the US coal miners? Hansen gets what he wants but you all better move to Costa Rica because it will be very cold next year in North America with no power or heating.
If he applies the tax only to coal that is sold in the U.S., then the coal companies will be fine. They could still extract and sell the same amount of coal, only to China, Germany and Britain instead of the U.S. Obama said he would bankrupt the U.S. coal-powered electrical business. I wasn’t aware he said he would bankrupt the coal business. However, if they “act up” he could always nationalize them like he did the largest car company, and then he would be able to tax their profits at 100% if he wanted to. And their profits would go up because once nationalized, most of the regulations on their behavior would disappear.
RTF
I hope you’re right Richard. The Australian carbon tax applies to all CO2 emissions and they got it through parliament by giving tax credits to the big emitters so that joe blow paid the carbon tax through his increased power bill etc and the coal mines and power generators got “time” to buy carbon credit offsets from London. Now the mines are closing and massive job losses are happening. Only 80 days before the carbon tax is repealed despite McGibbon conducting a scare campaign down here this month. Should have cancelled his visa.
Perhaps they are closing because our opponents realize that they have U.S. coal to rely on for China’s usage, i.e coal that is currently getting fed into U.S. power plants?
RTF
Andy– With all due respect, coal company profits, always very high, are now at record highs. Also, Big Coal is in receipt of immense subsidies from the gubmint here. Check it out:
http://www.taxpayer.net/library/article/coal-industry-profits
http://www.taxpayer.net/user_uploads/file/Energy/Coal/2012/Coal%20Profits%20Fact%20Sheet%202012.pdf
“Even during these hard economic times, coal company profits have soared. Peabody is having a record year. Its rival, Arch, is sending more coal overseas than ever before, proving that it doesn’t matter if the U.S. quits coal, so long as the rest of the world keeps puffing away.”
http://e360.yale.edu/feature/as_coal_use_declines_in_us_coal_companies_focus_on_china/2474/
This is a fake issue. There’s nothing to it. Trying to scare everyone with the thought that out African Socialist is going to run coal out of business is among the rankest of BS to be found on the web.
MIchael, is English your second language?
“Big” coal receives zero subisdies, unlike every “Big” green industry. In this case, subisdy is a gift of taxpayer money to an entity. Coal receives tax breaks, like anyone else in this country if they qualify, but they receive zero taxpayer money.
Saying that coal is subsidized is a flat out lie. Quit lying.
Subsidies can be of various kinds, Gate. Either the Feds can give them money, lend them money at bargain rates or tell them they don’t owe taxes like everyone else– which still ends up money in their pockets and not in the treasury. Coal gets all three kinds of subsidy. Here:
http://www.sourcewatch.org/index.php?title=Federal_coal_subsidies#Examples_of_Department_of_Energy_Funding
Read the part about tax credits, loans and loan guarantees. About funds for retrofitting old plants (which should be just an ordinary business expense). And about programs like this:
“A new program under the American Recovery and Reinvestment Act, Build American Bonds (BABs), expands the U.S. Treasury’s use of financing tools to subsidize coal-fired power plants. Under the program, issuers of the taxable bonds are provided a 35% direct pay interest subsidy to reduce the costs of borrowing. Power companies are eligible for these federally subsidized taxable bonds funding under BABs: American Municipal Power Ohio used the tax-exempt bond market to finance the construction of the Prairie State Energy Campus in Illinois and, after the 2009 financial crisis began, issued through the BABs program nearly $500 million dollars of federally subsidized taxable bonds to finance the last phases of construction. The bonds have also been used for scrubbers at existing plants.
“The report argues that, traditionally, federal tax-exempt funding has been reserved for low risk activities, but given calls for increased regulation of coal waste and coal ash, the decreasing cost of renewable energy, uncertain coal reserves, and potential cap and trade and carbon tax policies, coal-fired power plants are no longer low-risk investments. The report argues that, due to the risks inherent in coal plant investments, the Federal Government should ensure that disclosure of the financial risks associated with investment in coal-fired power generation is robust and sufficient to permit informed investment and mitigate bond market impacts. Since these risks are not disclosed in a transparent fashion to investors who buy tax-exempt bonds or the federally subsidized taxable BABs, there is misalignment between federal funding and federal energy goals.”
Sourcewatch is a Soros funded disinformation center.
Again, is English your second language?
Definition of SUBSIDY
: a grant or gift of money: as
a : a sum of money formerly granted by the British Parliament to the crown and raised by special taxation
b : money granted by one state to another
c : a grant by a government to a private person or company to assist an enterprise deemed advantageous to the public
Big Green receives subsidies, coal does not.
Quit lying.
Michael is so clueless that he doesn’t realize that the US Senate is in Democrat hands. He is either to stupid or else to un-informed to deserve an opinion. Isn’t this a great country or what?
Looking 12 months in the past doesn’t work in business. Last years profits mean nothing. This is what’s happening right now. Major closures around the world and in the USA because the price has halved and still falling. Oh and the fact is US coal exports are very small compared to Australia and Indonesia. Not sorry to pop your bubble Michael. Perhaps you can send all those old links to the out of work miners to make them feel better that it was a fake issue (cagw) that cost them their jobs, house and future. Maybe you should send them some cash too so they can eat this week.
http://www.mining.com/thermal-coal-heading-for-97298/
http://mobile.reuters.com/article/idUSL3N0DY17Y20130523?irpc=932
The Reuters News item say “50% cut in US coal exports” which is a real issue, not a fake issue like CAGW patently is. Please don’t pretend you know about mining and mining companies, Michael because you are deluding yourself. Just be thankful mining exists because you wouldn’t if it didn’t.
Andy– Fifty percent cuts in US coal exports? Please be so kind as to point this out on the graph:
http://www.google.com/imgres?imgurl=http://www.eia.gov/todayinenergy/images/2012.10.23/steamcoalexp.png&imgrefurl=http://www.eia.gov/todayinenergy/detail.cfm
id%3D8490&h=276&w=568&sz=11&tbnid=v1sN-tj8leD-vM:&tbnh=64&tbnw=132&zoom=1&usg=___y7s50eJ6eXCbyQGocU6Q9He80E=&docid=-tVj1obbswqt0M&sa=X&ei=y2HIUYbJD6X54AO-04H4Dg&ved=0CEkQ9QEwBA&dur=4368#imgdii=v1sN-tj8leD-vM%3A%3BvcNkN4ClRz8fbM%3Bv1sN-tj8leD-vM%3A
Coal has never been doing any better than it is today. Plus, it is our most environmentally harmful fossil fuel.
If it’s such a “fake issue” why is it so important to Obama and the liberals? Are you saying that this is yet another liberal smoke and mirrors gimmick issue?
Jorge, this is actually a first rate question to be asking. Since there isn’t a snowball’s chance in hell that cap & trade or any other serious environmental initiative is ever going to pass (given that our Congress is dominated by Republicans), why then does he talk about it so much?
He knows none of this stuff will ever get through Congress. But he has to appease his constituents, many of whom will hold out hope until the end that he’s actually going to save the day. His followers are in reality no brighter then, say, Mitt Romney’s followers.
Whenever there is an oil shock, it is usually followed by a recession. A carbon tax would act exactly the same as an oil shock. Why would anyone in their right mind manufacture a recession? Especially when it has taken 5 years and trillions in “stimulus” to barely come out of the last recession?
1. Elevate China, depress the U.S.
2. Claim that China’s success and the U.S.’ failure is proof that one-party socialism (a/k/a communism) is better economically than free enterprise within a multi-party framework.
3. Tell U.S. liberals that their problems are therefore caused by conservative resistance to Obama’s policies, and that their insistence on remaining a factor in Washington is therefore evil.
4. Rally said liberals in a surge to eliminate their opposition by whatever means may prove necessary in each region of the country.
5. Exalt and venerate the leader who brought them to this point in “human development”.
6. There’s your revolution. Now all ya’ gotta do is preserve it!
RTF
cf. Franklin, 1787.
It’s curious how reducing government spending can take money out of the economy and increase recessionary risks (the sequester) but increasing regulations which increase costs which slow productive economic activity are just fine.