Charge Me Up: Obama's No. 1 Priority

[dgriffin]

Obama’s “number 1 priority”




"A few days before the election, Barack Obama told Time’s Joe Klein:

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"Finding the new driver of our economy is going to be critical. There’s no better driver that pervades all aspects of our economy than a new energy economy … That’s going to be my No. 1 priority when I get into office."

"That’s exactly the right choice for numerous economic, geopolitical, and ecological reasons. By spawning “a new energy economy,” Obama can create millions of new jobs, decrease our dependence on foreign oil and avert catastrophic climate change. But the politics of launching that new energy economy — even with enlarged majorities in Congress — remains challenging."

blogs.reuters.com/great-debate/2008/11/11/obamas-number-1-priority/


You go, guy! Actually, this is the kind of stuff we (Americans) are good at.

[clarencebunsen]

What is "a new energy economy?"

"There are many opinions about what should be part of a comprehensive energy policy, but the centerpiece nearly everyone agrees on — the great lever that will tip the whole economy toward clean energy — is a strong, descending cap on carbon emissions. "

Obviously, I'm not a part of nearly everyone. I see this putting us at even more of a competitive disadvantage with companies like China than we are now.

"The most critical details involve where to place the cap and what to do with the permits the cap will create. The simplest and most effective place to put the cap is upstream — that is, on the small number of companies that bring carbon into the economy. "

What is included in this small number of companies that bring carbon into the atmosphere? Do they include dairy farms and tropical termites? How do we get the Saudis, Iranians & Venezuelans to enforce the cap?

From there it gets a little tangled. The government would auction off permits under the cap. Money from the auctions would be returned to "the people." The government would then take back 25% of the returned auction money as taxes to use as it sees fit.

Meanwhile higher energy prices will make people conserve and this will somehow cause trillions to be invested in clean energy sources and create millions of jobs.

[dan]

Typically what happens when the government involves itself in the free market is it creates a black market of suppliers, such as is the case with higher alchohol or cigarette taxes in one state vs another. By rights this should create an oil black market. Enterprising individuals will be running Donzi's from Columbia with the bilges full of Venezulian crude to sell on the street corners of America while dodging the Coast Guard cutters.