6% Down and only 14% more to Go!

Posted: 17th October 2009 by Illiquid Assets in Economy, Politics
Tags: ,

Ok John Kerry ran for President and many thought that he lost because of Republican tactics and the now infamous "Swift Boat" attacks, but I read a piece today that I have to recommend reading as to why he really lost, that being because he is an idiot of epic proportions.

It appears the charges of Democrats being anti-growth and anti-economic activity is true and Senator Kerry Admits Recession is a Good Thing in the Fevered Minds of Democrats when it comes to Climate Change! – read here.

"Let me emphasize something very strongly as we begin this discussion. The United States has already this year alone achieved a 6 percent reduction in emissions simply because of the downturn in the economy, so we are effectively saying we need to go another 14 percent."

If this one statement is not the single most stupid thing ever said by a sitting Senator in the middle of a recession with a mid-term election coming up then I do not know what it possibly could be. Topping it off he said it in a hearing about Cap and Trade! I am rather speechless. In Fact it is so idiotic that I actually did not believe it at first and had to get confirmation! I found it here. I am still looking for the actual hearing though on CSPAN and will post that when I locate it, so for now take it with a grain of salt and as partially verified until I get confirmation of dates and text or video of the hearing.

johnkerry
"Let me emphasize something very strongly as we begin this discussion. The United States has already this year alone achieved a 6 percent reduction in emissions simply because of the downturn in the economy, so we are effectively saying we need to go another 14 percent." – John Kerry

This ties into a previous post I made as a simple observation earlier this year, now confirmed by Senator Kerry…

Some Good News and Some Bad News

The point is that the Democrats trying to ram climate legislation containing any sort of price on emissions down our thoughts know what the impact will be and simply do not care. While I was looking for the Kerry quote I found Senator Boxer explaining that the EPA finding and rules on GHG emissions really is a hammer being used to scare the Senate and Industry into  accepting this plan (in Boxer’s Closing Remarks at the end of this hearing).

The Cap and Trade from both the House and Senate are so ripe with rent seeking provisions for certain companies that the entire cap and trade system is unfair and flawed fatally. Big energy names like PG&E, and PNW are all leaving the US Chamber of Commerce because of the Chamber’s resistance to the EPA and Cap and Trade and are looking only at the potential for huge trading profits from free allowances, profits that will not be passed onto consumers as these utilities can raise prices in lock step with the ones most affected while gaming the market on any excess credits by minor investments in renewable research and development or token solar or wind farms which will pay a nice healthy taxpayer funded PTC to them as well.

This practice will only serve to enrich those corporations that have political patronage by democratic representatives who secured free tradable emissions credits to sign onto the cap and trade legislation. Apple is leaving the Chamber as well sighting Climate Change as the reason, I sight poor judgment by a company selling based solely on image trying to appease what it feels is its target demographic, a portion of the population who really could not give a crap about Apple’s "green-ness"only that they produce cool "got to have" gadgets at outrageous prices. They could burn a Polar Bear a day to heat their HQ and people would still flock to Apple Stores to get the next newest iThing.

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