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March 31, 2010

Fox: Obama to sign new CO2 restrictions by executive order (Updated)

Topics: Political News and commentaries

Fox Business Host Stuart Varney reports that Obama plans to sign an executive order by next week to unilaterally impose new laws mandating CO2 restrictions since he can't get the laws passed through congress.

Apparently our Dear Leader doesn't give a Tinker's damn about the economy. With the passage of Obamacare, and his having already dramatically expanded the federal government's role in banks, student loans, auto making, health care, real estate, insurance, and energy industries, it's already crystal clear he doesn't give a crap what the American people want.

As James M. Taylor notes at Capitalist Magazine, if you enjoyed last summer's exploding gasoline prices, you're really going to love the rise in gasoline prices, electricity prices, and unemployment, as well as the reduction in annual household income, that carbon dioxide restrictions will impose on the economy:

Science Applications International Corporation (SAIC), which serves as a contractor to several federal government agencies, last year analyzed the economic consequences of a 70 percent cut in carbon dioxide emissions by the year 2050. SAIC used the U.S. Energy Information AdministrationÃÆ'Æ''s National Energy Modeling System under two different scenarios. SAIC analyzed the economic consequences under a "low cost" scenario in which nuclear power, clean coal, and other relatively cost-effective but environmentally controversial means are employed to meet the 70 percent reduction, and a "high cost" scenario in which nuclear power plants, clean coal plants, etc., do not play a major role in carbon dioxide reductions. Under either scenario, the economic consequences to American consumers will be devastating.

According to the U.S. Energy Information Administration's economic forecasting model, a 70 percent cut in carbon dioxide emissions will cause gasoline prices to rise 77 percent over baseline projections, will cause electricity prices to more than double over baseline projections, will kill more than 3 million jobs versus baseline projections, and will reduce average household income by more than $4,000 each and every year.

If these numbers make you shudder, here comes the really bad news: That was the "low cost" scenario. (Emphasis added)

Remember, America, you elected this socialist moron. And he's just getting started.

Update: CFP offers more info: Obama to Crush Economy with Massive CO2 Taxes as Early as Next Week:

[...] Abandoning all loyalty to the democratic processes this nation holds dear, President Obama has made the decision that getting energy tax legislation through Congress with the approval of the American people is just too much of a pain to bother with. Instead he will have the EPA declare as early as next week that CO2 is a dangerous global warming gas and will start regulating its emissions immediately.

Obama's promise to open up vast stretches of ocean on the East Coast and Gulf of Mexico to energy exploration is simply a ruse to soften up the public for soon to be announced draconian regulations.

Similar to how Obama used the $50 million dollar study on healthcare companies competing across state lines to sell ObamaCare as a bipartisan bill, his recent decree allowing energy companies to explore (not drill, not produce energy from ... just explore) new stretches of ocean for oil is also meant to be a trivial, yet impressive enough sounding carrot for conservatives right before he stuffs his Marxist trash down their throats.

[...] Put simply, it means $8 for a gallon of gas and 2-3 times higher electricity bills. It also means the loss of millions more sorely needed jobs as businesses are hit with higher operating costs and the transfer of whatever remains of our manufacturing sector to China where energy is cheaper and they aren't so concerned about CO2.
In the first week alone, American businesses estimated that ObamaCare will cost them $14 billion. By most estimates this latest Obama nightmare will be far more expensive and may literally destroy the economy in less than 20 years.

All because of climate science that has been clearly exposed as inaccurate and untrustworthy. Obama may or may not be a communist plant sent to destroy America, but he sure is acting like one.

If Obamacare and this aren't wake up calls for 2010 and 2012, what will it take!

Posted by Richard at March 31, 2010 9:29 AM

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