The Cody Word
  • June 26, 2009 02:09 PM EDT by Cody Willard

    Climate bill sends taxpayer money to the companies its supposed to be punishing

    Once again I ask -- did anybody bother to read what's actually in this 1000 plus page bill that your elected Republicans and Democrats are voting on whether it should become THE LAW OF THE LAND, enforced in the end by police, courts, and prisons.

    And I also ask this, after reading a part of what's in this 1000 plus page climate bill -- Does anybody really think making the following the law of our nation will help fix our climate?

    ‘‘(c) MERCHANT COAL GENERATORS.—
    20 ‘‘(1) QUALIFYING EMISSIONS.—The qualifying emissions for a merchant coal generator for a givencalendar year shall be the product of the number ofmegawatt hours of electricity generated by such generator in such calendar year and the average carbon dioxide emissions per megawatt hour generated by such generator during calendar years 2006 through 2008,provided that the number of megawatt hours in a given calendar year for purposes of such calculation shall be reduced in proportion to the portion of such generator’s carbon dioxide emissions that are either— ‘‘(A) captured and sequestered in such calendar year; or ‘‘(B) attributable to the combustion or gasification of renewable biomass, such that the generator is not required to hold emission allowances for such emissions.
    ‘‘(2) PHASE-DOWN SCHEDULE.—The Administrator shall identify an annual phase-down factor,applicable to distributions to merchant coal generators for each of vintage years 2012 through 2029, that corresponds to the overall decline in the amount of emission allowances to be allocated to the electricity sector in such years pursuant to section 782(a). Such factor shall— ‘‘(A) for vintage year 2012, be equal to 1.0; ‘‘(B) for each of vintage years 2013 through 2029, correspond to the quotient of— ‘‘(i) the quantity of emission allow24
    ances allocated to the electricity sector under section 782(a) for such vintage year; divided by ‘‘(ii) the quantity of emission allowances allocated to the electricity sector under section 782(a) for vintage year 2012.

    And another thing – from Bloomberg:

    The bill’s chief sponsors, Democratic Representatives Henry Waxman of California and Edward Markey of Massachusetts, agreed during the past month to reduce its environmental mandates and increase aid to polluters, including coal-fired power plants, to help companies meet the measure’s clean-air regulations.

    So the first step to getting our climate fixed is to send taxpayer money that could go to hungry kids TO FRICKING COAL-FIRED POWER PLANTS INSTEAD? I thought they were supposed to PUNISHED for polluting – but instead we SEND THEM WELFARE?

    Bizarro world continues!

Tooz

“Electricity rates would likely skyrocket,” Pres. Obama said. “Whatever the industry was, they would have to retrofit their operations. That would cost money; they would pass that money on to consumers.”

June 30, 2009 at 5:22 pm

JohnC

Can't get more "F'd up" than this! But then what would you expect from these peeps?

July 1, 2009 at 10:40 am

JohnC

Another thig this Tax bill will do - You know those houses that ACORN is giving away - Well this winter they are going to need heat and guess who is going to pay for it?

July 1, 2009 at 10:43 am

theabnranger

The advancement of our society has been based in large measure on progressively less costly means of accomplishing work. In part, this means that cheaper energy drives quality of life, opening doors that would otherwise be closed to common folk. Now, the obamanites and their dupes proclaim the efficacy of very poor science in justifying one of the biggest tax increases in the history of the world. Face it, this is a great bill for the lying liars of the lunatic left, but it will only degrade freedom for most of us. Only the elites (a) to whom middle class wealth is transferred in the bogus, earth-worshipping name of environmental "necessity" and (b) reelected on the basis of donations from the disreputably, centralized economy-selected "businesses" will come out ahead. The rest of us will see an additional $3,000 or so per household wasted by the socialists of the obamanation.

July 1, 2009 at 11:53 am

LDH

Basically, we have two problems which are related. First, our country has been brainwashed with bad science. Both economic science and natural science are not honestly taught. The whole concept of global warming is bad science and socialism has never worked anywhere it was tried. The far, far bigger problem is that our country has a foundational problem that is so much more dangerous than polution or political parties. We have lost our ethics, our values, our honesty and our integrity. We have been corrupted like a third world nation. The prosperity of a nation depends on it's ethics or lack thereof. Quit pointing at politicians. They simply are willing to do whatever the masses tell them to do. Look instead at the masses. There's your problem. Fix the masses and you fix the problem. That will take a long time.

July 1, 2009 at 1:22 pm

about this blog

  • Cody Willard is an anchor on the FOX Business Network. Willard is also the principal of an investment management company. He was a long-time featured columnist for the Financial Times and TheStreet.com as well as a regular featured economist and stock picker on CNBC's ''Kudlow & Company."

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