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Obama’s Cap and Trade Carbon Emissions Bill – A Stealth Scheme to License Pollution and Fraud July 8, 2009
Bill does nothing to address environmental issues, lets corporate polluters reap huge windfall profits, and paves the way for a new bubble through carbon trading derivatives speculation. Polluters love it.
by Stephen Lendman (Steve Lendeman Blog, July 8, 2009)
On May 15, HR 2454: American Clean Energy and Security Act of 2009 (ACESA) was introduced in the House purportedly “To create clean energy jobs, achieve energy independence, reduce global warming pollution and transition to a clean energy economy.”
In fact, it’s to let corporate polluters reap huge windfall profits by charging consumers more for energy and fuel as well as create a new bubble through carbon trading derivatives speculation. It does nothing to address environmental issues, yet on June 26 the House narrowly passed (229 – 212) and sent it to the Senate to be debated and voted on. More on that below.
On March 31, Energy and Commerce Committee Chairman Henry Waxman and Energy and Environment Subcommittee Chairman Edward Markey released a “discussion draft” of the proposed legislation and falsely claimed:
* it’s “a comprehensive approach to America’s energy policy that charts a new course towards a clean energy economy;” it will * create millions of clean energy jobs….that can’t be shipped overseas; * put America on the path to energy independence; * reduce our dependence on foreign oil; * save money by the billions; * unleash energy investment by the trillions; * cut global warming pollution; * strengthen our economy;” and * make “America the world leader in new clean energy and energy efficiency technologies.”
Strong-arm pressure, threats and bribes got the bill through the House. Forty-four Democrats opposed it. Eight Republicans backed it. Over 1200 pages long, few if any lawmakers read it.
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