Its Taxing To Make A Buck

Yes it is very taxing to make a buck. Unless you use taxing to make a buck. Then it gets easier. From Bloomberg.

Nov. 19 (Bloomberg) -- When Senate Environment Committee Chairwoman Barbara Boxer, Republican Senator John Warner, the nation's largest environmental groups and General Electric Co. join forces to push a U.S. cap on global-warming emissions, it should be an unbeatable team. Not in the 110th Congress.

The alliance is running into resistance from an unlikely collection of environmental activists, big oil and coal companies, labor unions and Congress's sole socialist. Some opponents say the measure doesn't go far enough; others say complying with it would cost too much and put U.S. businesses at a competitive disadvantage.

The fight threatens to scuttle the first legislation mandating emissions cuts to be approved by a congressional subcommittee. The bill backed by California Democrat Boxer, 67, would create a potential $300 billion carbon-trading market and press the Bush administration to soften its opposition to stricter emission rules at global climate-treaty talks in Indonesia next month.

``I'm worried,'' says Ralph Izzo, chief executive officer of Newark, New Jersey-based Public Service Enterprise Group Inc., owner of the state's largest utility. ``I think there's less than a 20 percent chance that anything will happen in this Congress on climate change.''

Izzo is among business leaders including GE Chairman Jeffrey Immelt who want Congress and President George W. Bush to set federal rules for the carbon-dioxide emissions that cause global warming, so they can make business plans and start profiting from carbon trading and the sale of non-polluting technologies.

So let me see if I got this. Green energy is not profitable (enough) and so these wonderful companies want to in effect put a heavy tax on energy use in order to make their dreams of riches without effort come true. Not make things better, faster, cheaper. Nope, that is hard. Taxing the other guy out of business is easier.

I looked at such questions before in Criminals And Moralists Working Together where I looked at how all this carbon trading stuff was in part related to Enron's business model and how it seems to have influenced science.

The Brits are wise to this scam. Probably because they are already being taxed to help these industrial schemes along.

New Energy and Fuel is looking at a similar Hillary inspired scheme for automobiles.

H/T I Call BS

Cross Posted at Power and Control

posted by Simon on 11.21.07 at 01:29 AM


The most flagrant attempt of a corporation using its ownership of Big Media to push its business agenda has been GE using NBC to lobby the public for "Something" to be done about global warming. That Something will clearly involve corporate welfare sent GE's way in the form of emissions credits, as well as nuke plants (which I actually agree with), and other schemes to bulk up GE's bottom line at the expense of the American taxpayer.

Global warming "somethings" are already the biggest single pork item in the US in the form of ethanol subsidies.

Isn't it great to be a Congressperson? You get to feel good about yourself, get rich, and all of it with other people's money!

Foobarista   ·  November 22, 2007 2:48 PM

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