Thursday, November 12, 2009

Spoof About Climate Emergency Provision In Climate Bill


Things are getting pretty bad for the news media when they have to make preposterous claims about legislation coming from the Democratic Party controlled Congress such as you will have to pay a fine any may go to jail if you don't get health care insurance. Now they are at it again.

Don't buy those carbon credits just yet

By: David Freddoso
Commentary Staff Writer
11/10/09 8:15 AM EST

Democrats' cap-and-trade climate change bill contains a provision that could suddenly render useless the carbon credits it creates, says Sen. David Vitter, R-La.

Vitter will speak at a press conference later today on how the bill establishes emergency conditions requiring the president to step in and use all of his authority over relevant agencies to stop global warming. According to the Pacific Northwest National Laboratory, which performs climate modeling analyses for the Department of Energy, the emergency conditions laid out in the bill would be triggered within months of its enactment.

The cap-and-trade bill -- both the Senate version that passed the Environment and Public Works committee and the version that already passed the House -- effectively declares a climate emergency if world greenhouse gas levels climb above 450 parts per million. (The number appears to have been chosen arbitrarily.) According to the Pacific Northwest National lab, which wrote in response to Vitter's inquiries, the world's air will hit that level of greenhouse gases next year, in 2010, if undeveloped nations do not accept carbon limits.

The result is a a scenario in which the law not only permits but in fact requires the president to “direct all Federal agencies to use existing statutory authority to take appropriate address shortfalls" in emissions cutbacks.

The bill's language places an unusually broad mandate upon the president to act in the event of this "emergency" situation." In a letter to Vitter, EPA administration Lisa Jackson wrote that she does not know what her agency would do. “It is premature to describe exactly what additional actions EPA may take until such an analysis is conducted," she wrote.

But declaration of this "climate emergency" could result in federal agencies denying all discretionary permits for carbon-emitting industries, and EPA itself could impose non-attainment status upon the entire United States. "In that context, the carbon credits won't matter," Vitter told me yesterday.

If a future president tries to go easy on industry, environmental groups are sure to litigate based on the clear language in the law, forcing his hand.

"This provision was not focused on to any significant extent during the House debate," said Vitter. The climate change bill passed the House this summer, hours after hundreds of pages of amendments were added to it. Vitter said he plans to write industry leaders who are supporting the climate bill to ask whether they understand what the bill's language would do.

h/t Climate Depot

Sure, like the Obama administration would try something really stupid like that.

This time I have to believe that, whatever the provision is, it simply can't call for emergency actions to override everything else. Of course, it is hard to believe that someone could be fined or incarcerated for not buying health insurance. But I've got to believe that what is written and what is being said just cannot be the same with regard to carbon dioxide targets.

That would be far too stupid... and even the Democratic Party has a self-preservation gene in it somewhere... even if it is recessive.


Key Senate Democrats Tuesday said it is unlikely there will be any more major committee action on climate-change legislation this year, the strongest indication yet that a comprehensive bill to cut greenhouse-gas emissions won't be voted on until at least next year. Sen. Debbie Stabenow (D., Mich.), who is leading an effort by moderate, heartland Democrats to protect manufacturing and agriculture industries, said committees were no longer under any timetables to produce legislation. Sen. Blanche Lincoln (D., Ark.), who chairs the Agriculture Committee, is facing a tough re-election campaign next year, and handling a highly controversial climate-change bill in her panel may risk alienating voters.
--Ian Talley, The Wall Street Journal, 11 November 2009

h/t Benny Peiser via email



Can"t Find It?

Use the SEARCH BLOG feature at the upper left. For example, try "Global Warming".

You can also use the "LABELS" below or at the end of each post to find related posts.

Blog Archive

Cost of Gasoline - Enter Your Zipcode or Click on Map

CO2 Cap and Trade

There is always an easy solution to every human problem—neat, plausible, and wrong.
Henry Louis Mencken (1880–1956)
“The Divine Afflatus,” A Mencken Chrestomathy, chapter 25, p. 443 (1949)
... and one could add "not all human problems really are."
It was beautiful and simple, as truly great swindles are.
- O. Henry
... The Government is on course for an embarrassing showdown with the European Union, business groups and environmental charities after refusing to guarantee that billions of pounds of revenue it stands to earn from carbon-permit trading will be spent on combating climate change.
The Independent (UK)

Tracking Interest Rates

Tracking Interest Rates


SEARCH BLOG: FEDERAL RESERVE for full versions... or use the Blog Archive pulldown menu.

February 3, 2006
Go back to 1999-2000 and see what the Fed did. They are following the same pattern for 2005-06. If it ain't broke, the Fed will fix it... and good!
August 29, 2006 The Federal Reserve always acts on old information... and is the only cause of U.S. recessions.
December 5, 2006 Last spring I wrote about what I saw to be a sharp downturn in the economy in the "rustbelt" states, particularly Michigan.
March 28, 2007
The Federal Reserve sees no need to cut interest rates in the light of adverse recent economic data, Ben Bernanke said on Wednesday.
The Fed chairman said ”to date, the incoming data have supported the view that the current stance of policy is likely to foster sustainable economic growth and a gradual ebbing in core inflation”.

July 21, 2007 My guess is that if there is an interest rate change, a cut is more likely than an increase. The key variables to be watching at this point are real estate prices and the inventory of unsold homes.
August 11, 2007 I suspect that within 6 months the Federal Reserve will be forced to lower interest rates before housing becomes a black hole.
September 11, 2007 It only means that the overall process has flaws guaranteeing it will be slow in responding to changes in the economy... and tend to over-react as a result.
September 18, 2007 I think a 4% rate is really what is needed to turn the economy back on the right course. The rate may not get there, but more cuts will be needed with employment rates down and foreclosure rates up.
October 25, 2007 How long will it be before I will be able to write: "The Federal Reserve lowered its lending rate to 4% in response to the collapse of the U.S. housing market and massive numbers of foreclosures that threaten the banking and mortgage sectors."
"Should the elevated turbulence persist, it would increase the possibility of further tightening in financial conditions for households and businesses," he said.

"Uncertainties about the economic outlook are unusually high right now," he said. "These uncertainties require flexible and pragmatic policymaking -- nimble is the adjective I used a few weeks ago."

December 11, 2007 Somehow the Fed misses the obvious.
[Image from:]
December 13, 2007 [from The Christian Science Monitor]
"The odds of a recession are now above 50 percent," says Mark Zandi, chief economist at Moody's "We are right on the edge of a recession in part because of the Fed's reluctance to reduce interest rates more aggressively." [see my comments of September 11]
January 7, 2008 The real problem now is that consumers can't rescue the economy and manufacturing, which is already weakening, will continue to weaken. We've gutted the forces that could avoid a downturn. The question is not whether there will be a recession, but can it be dampened sufficiently so that it is very short.
January 11, 2008 This is death by a thousand cuts.
January 13, 2008 [N.Y. Times]
“The question is not whether we will have a recession, but how deep and prolonged it will be,” said David Rosenberg, the chief North American economist at Merrill Lynch. “Even if the Fed’s moves are going to work, it will not show up until the later part of 2008 or 2009.
January 17, 2008 A few days ago, Anna Schwartz, nonagenarian economist, implicated the Federal Reserve as the cause of the present lending crisis [from the Telegraph - UK]:
The high priestess of US monetarism - a revered figure at the Fed - says the central bank is itself the chief cause of the credit bubble, and now seems stunned as the consequences of its own actions engulf the financial system. "The new group at the Fed is not equal to the problem that faces it," she says, daring to utter a thought that fellow critics mostly utter sotto voce.
January 22, 2008 The cut has become infected and a limb is in danger. Ben Bernanke is panicking and the Fed has its emergency triage team cutting rates... this time by 3/4%. ...

What should the Federal Reserve do now? Step back... and don't be so anxious to raise rates at the first sign of economic improvement.
Individuals and businesses need stability in their financial cost structures so that they can plan effectively and keep their ships afloat. Wildly fluctuating rates... regardless of what the absolute levels are... create problems. Either too much spending or too much fear. It's just not that difficult to comprehend. Why has it been so difficult for the Fed?

About Me

My photo
Michigan, United States
Air Force (SAC) captain 1968-72. Retired after 35 years of business and logistical planning, including running a small business. Two sons with advanced degrees; one with a business and pre-law degree. Beautiful wife who has put up with me for 4 decades. Education: B.A. (Sociology major; minors in philosopy, English literature, and German) M.S. Operations Management (like a mixture of an MBA with logistical planning)