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Reporters' BLOG |
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July 2009
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Today, the story of a local bakery's protest of cap and trade legislation went national. On Saturday the 27th, McArthur's Bakery changed their digital billboard to read, "Russ Carnahan voted to close us and other small business." The sign stayed up until Monday, the 29th after the Congressman's office agreed to meet with the owners of the bakery. Randy McArthur explained that he just wanted to open a dialogue with lawmakers about legislation that is proving to be as controversial as it is complicated. H.R. 2454 goes by a couple of different names in the media. You may have more luck finding information on it if you search for Waxman-Markey legislation or "Cap and Trade" legislation. You can look up the full text of the bill here. There are hundreds of sections that address climate change and encouraging clean energy, but a portion of the bill that addresses cap and trade is raising questions. Primarily, who exactly benefits and how much will it ultimately cost consumers? Here is what the Congressional Budget Office says about the cost estimates. Others like the American Council for an Energy Efficient Economy and the American Petroleum Institute have different takes on the costs. This is a story devoted to the challenge of getting an accurate estimate. In reality, it may be hard for anyone to accurately estimate what this legislation could cost or save consumers because so many factors are in play. For one, the legislation would set limits on how much greenhouse gases certain industries can put out per year. Some companies may be able to put out less than their allotments. They can sell the rest of their allowances to other companies who may pollute more. These pollution permits will become a hotter commodity as the government tightens carbon emissions limits over time. Skeptics are concerned about the creation of middle men who would then buy and sell these pollution permits. Heavy regulation and oversight of the goverment would be needed to make sure there isn't cheating. Another issue? Allowing international offsets? If that's allowed, how can the government verify what they're being told and how will the environment benefit? Cap and trade isn't new. This system is used to reduce acid rain. However, as Dr. Joseph Martinich of the University of Missouri - St. Louis points out, this new legislation is much larger in scope and attempts to monitor many more industries. Dr. Martinich teaches business operations. He has a background in engineering and economics. He's also served as an environmental officer for private industry. I went to him for a non-partisan, non-political analysis of the legislation. Dr. Martinich says the legislation contains energy efficiency requirements, funding for conservation and rehabilitation that could help the environment. Hiowever, he's concerned the more than 1200 pages in HR 2454 are muddying the waters. He says the environment would be helped more by a straight tax on coal, oil and gas to encourage conservation. He suggests lawmakers consider tax cuts to corporations to off-set the energy taxes. (Three pages of legislation, not 1200). What do you think? 5 CommentsLeave a comment |
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Where was this story two weeks ago BEFORE the House voted in favor of this? Your reporting was too late for Missouri voters to call their elected officials to voice their concerns. I called Claire McCaskills office before the House voted on this and was very disappointed as to the response I received from her office. I am also concerned that this is the first report I have heard on local news stations on this topic. I applaude you that you reported this topic, but it was too late to make a difference. I have a hard time believing that this is just now making your radar screen as an important topic.
This story was all over FOX News. MSM wouldn't cover it and possibly irk the Prez.
This story was all over FOX News. MSM wouldn't cover it and possibly irk the Prez.
These democrats have been brain dead for a long time. Just ask Australia about cap and trade. They almost went broke before they realized who was really benefiting from all this money change. Try for one Al Gore.
I called Carnahan's office 3 times, and e-mailed 6 times, to vote against the Cap and Tax bill. It did no good, since he voted on party lines.
With unemployment getting close to 10%, intrest rates on the rise and hyper-inflation in our future, you would think democrats would cut taxes and stop the "The Messiah's" steam rolling to socialism.
Lord help us. Hopefully McCaskill has a couple more brain cells.