Friday, February 20, 2009

Cap and Trade Headed Our Way For Energy

Everybody knows that Barry O was up in Iowa, er Ottawa yesterday. What most people are not aware of is what the President in Training Pants said in response to a question posed to the 2 leaders, President Obama and Prime Minister Harper, in regards to energy policy.

The whole exchange was captured but unfortunately it is spread between 2 separate videos. The question is here along with Mr Harper's response starting about 4:25 mark. I am putting up the video that contains Obama's response which contains a portion which ought to scare you. In it he advocates for the United States to pursue a "Cap and Trade" policy in regards to coal power. Of course nobody in the news is reporting this little revelation.

Cap and trade is a policy which is designed to devastate an industry. Essentially it makes the price of doing business too prohibitive to be viable.

These measures would set a limit, or cap, on carbon dioxide emissions from fossil fuel use. The effect of such a cap would be to impose rationing of coal, oil, and natural gas on the American economy. Each covered utility, oil company, and manufacturing facility would be given allowances based on past emissions or some other formula. Those companies that emit less carbon dioxide than permitted by their allowances could sell the excess to those that do not; this is the trade part of cap and trade. Over time, the cap would be ratcheted down, requiring greater cuts in emissions.

In the video you will find Baracks' response starting at about the 2:19 mark. The environmental and energy team that Obama has are all big advocates of this sort of approach along with all the environmental progressive weenies. It was tried in Europe and it has failed. Of course if there is one thing this new administration has shown us they are not about to let failed policies of the past stop them from adopting or proposing them again. Whether those policies belonged to FDR, Jimmy Carter, or the Europeans.

For somebody who everyday is regaling with dire warnings of how bad our economy is he sure seems to be doing everything in his power to make sure it soon rivals countries such as Zimbabwe.

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