Speaking of that cap-and-trade fiasco, it’s cause for today’s Global Warming Quote(s) of the Day.
First, on the pie-in-the-sky, hand-in-your-wallet concept of subsidizing “renewable” energy:
“There’s an unavoidable problem with renewable-energy technologies: From an economic standpoint, they’re big losers. …The U.S. Energy Information Administration reported in early 2008 that the government subsidizes solar energy at $24.34 per megawatt-hour (MWh) and wind power at $23.37 per MWh. Yet even with decades of these massive handouts, as well as numerous state-level mandates for utilities to use green power, wind and solar energy contribute less than 1% of our nation’s electricity.
“Compare the subsidies to renewables with those extended to natural gas (25 cents per MWh in subsidies), coal (44 cents), hydroelectricity (67 cents), and nuclear power ($1.59). These are the energy sources (along with oil, which undergirds transportation) that do the heavy lifting in our energy economy.” - Manhattan Institute’s Center for Energy Policy and the Environment
This is the part we find most illuminating:
“The alternative technologies at the heart of Mr. Obama’s plan, relying on mandates and far greater handouts, will inevitably raise energy prices — and high power prices are job killers.”
And this is the second of our Global Warming Quotes of the Day describing the cap-and-trade bill:
“A great big tax.” - Michigan Democrat John Dingell
“A huge tax … and a fairly regressive one.” - Billionaire investor Warren Buffett
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