Climate bill sends taxpayer money to the companies its supposed to be punishing
Posted by Sophist in Financial, PoliticalBy Cody Willard June 26, 2009 2:09PM
Once again I ask — did anybody bother to read what’s actually in this 1000 plus page bill that your elected Republicans and Democrats are voting on whether it should become THE LAW OF THE LAND, enforced in the end by police, courts, and prisons.
And I also ask this, after reading a part of what’s in this 1000 plus page climate bill — Does anybody really think making the following the law of our nation will help fix our climate?
‘‘(c) MERCHANT COAL GENERATORS.—
20 ‘‘(1) QUALIFYING EMISSIONS.—The qualifying emissions for a merchant coal generator for a givencalendar year shall be the product of the number ofmegawatt hours of electricity generated by such generator in such calendar year and the average carbon dioxide emissions per megawatt hour generated by such generator during calendar years 2006 through 2008,provided that the number of megawatt hours in a given calendar year for purposes of such calculation shall be reduced in proportion to the portion of such generator’s carbon dioxide emissions that are either— ‘‘(A) captured and sequestered in such calendar year; or ‘‘(B) attributable to the combustion or gasification of renewable biomass, such that the generator is not required to hold emission allowances for such emissions.
‘‘(2) PHASE-DOWN SCHEDULE.—The Administrator shall identify an annual phase-down factor,applicable to distributions to merchant coal generators for each of vintage years 2012 through 2029, that corresponds to the overall decline in the amount of emission allowances to be allocated to the electricity sector in such years pursuant to section 782(a). Such factor shall— ‘‘(A) for vintage year 2012, be equal to 1.0; ‘‘(B) for each of vintage years 2013 through 2029, correspond to the quotient of— ‘‘(i) the quantity of emission allow24
ances allocated to the electricity sector under section 782(a) for such vintage year; divided by ‘‘(ii) the quantity of emission allowances allocated to the electricity sector under section 782(a) for vintage year 2012.
And another thing – from Bloomberg:
The bill’s chief sponsors, Democratic Representatives Henry Waxman of California and Edward Markey of Massachusetts, agreed during the past month to reduce its environmental mandates and increase aid to polluters, including coal-fired power plants, to help companies meet the measure’s clean-air regulations.
So the first step to getting our climate fixed is to send taxpayer money that could go to hungry kids TO FRICKING COAL-FIRED POWER PLANTS INSTEAD? I thought they were supposed to PUNISHED for polluting – but instead we SEND THEM WELFARE?
Bizarro world continues!
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