Thursday, October 29, 2009

A Summary of Yesterday's Senate Climate Hearings   [Greg Pollowitz]

Via Senator Inhofe's blog:

In today's hearing, the EPW Committee heard a few key things about Kerry-Boxer:

-It will undermine the global competitiveness of America's manufacturers, and give a huge competitive advantage to countries such as China and India.

-It will weaken America's national security because it will weaken the economy, and thus compromise our ability to protect the country against foreign threats.

-It is an energy tax that will make consumers pay higher prices for electricity.

Kerry-Boxer bill will penalize America's manufacturers by raising their energy costs. 

- According to Brett Vassey, vice president of the Virginia Manufacturers, higher energy costs will hamper the ability of manufacturers to compete against countries such as China and India, which have refused to accept binding emissions cuts. As Vassey stated, cap & trade is "just another tax on businesses and consumers-regressively so on manufacturing." Vassey also noted that Kerry-Boxer does nothing to stop jobs and emissions from moving overseas, which harms the economy and increases emissions. Even if Virginia limited all of its CO2 emissions, Vassey stated, China's CO2 emissions growth alone would replace all of Virginia's CO2 emissions in only 77 days. Virginia is .44% of the global GHG emissions.

America must develop its own resources to protect against foreign threats and mobilize for war. 

- Cap-and-trade will make America more dependent on foreign oil and undermine our national security by destroying jobs and economic growth. But the key point was made by Major General (Ret.) Robert Scales: Kerry-Boxer will do nothing to stop global warming but it will harm the economy and thus weaken America's national security. As Scales said, "Advocates of [Kerry-Boxer] believe passionately that it will reduce America's production of greenhouse gasses. Some suggest that it will create jobs. They may or may not be correct. But nothing in this bill will either reduce the likelihood of American involvement in future wars nor will it improve America's war making capabilities. Indeed over the decades the consequences of the bill might well reduce American influence and retard our ability to deter and fight wars in the future."

More: Testimony from Lieutenant Colonel James Jay Carafano (Ret.) 

The Kerry-Boxer energy tax will hurt electricity consumers, especially those in the Midwest, South, and Great Plains.

- Dustin Johnson, the chairman of the South Dakota Public Utilities Commission: "This bill will hurt Midwestern consumers because it substantially raises their monthly utility bills." Johnson pointed to an analysis of Waxman-Markey that shows "South Dakota consumers will be paying as much as 25 percent more for their electricity as soon as 2012. It could be even more for customers of some companies."

WATCH: Dustin Johnson Testimony

- Barry Hart, Chief Executive Officer of the Association of Missouri Electric Cooperatives: "Thank you very much Senator. I do want to make it clear that regional disparities are some of the things that bother us the most. No one on this panel has argued for inaction. No one on this panel has said that carbon shouldn't come with some price. The concerns that have been raised have been primarily around regional disparities."

WATCH:  Barry Hart Testimony  

More here.

10/29 07:45 AMShare