Something struck me at the Heartland Institute’s climate-change conference in Manhattan after hearing CCNet’s Benny Peiser give a talk and speaking with him further in a sidebar conversation later.
We see how the Obama administration is already spending the cap-and-trade billions it has yet to collect, even as one well-placed source reports that a key congressional chairman has told him that they do not intend to actually take responsibility for imposing this energy-rationing/taxation scheme during this Congress.
First, regarding that supposed admission: leaking an EPA document that threatens industry with regulatory uncertainty of chaos — in order to herd them toward legislative certainty of chaos — is a cost-free gambit that, to my mind does not affirm an intention to regulate; it is instead an effort to intimidate certain industry groups into begging for a bill, providing the administration and Congress “cover” to do what they are demonstrably wary of taking responsibility for.
But about the money, Benny asks that we consider the likely Kyoto 2.0 model that seems to be emerging as the next meeting in Copenhagen looms: no binding promises on emissions reductions for the developed world, who will make their (political, self-created) carbon problem go away by promising to pay developing countries up to $175 billion per year (the EU’s number) to help them adapt to a changing climate (which doesn’t seem to be changing any more than it always is, I might add).
Even if the lower figure associated with Bali emerges instead — $90 billion per year, every year, of which the U.S. is to foot 60 percent — do you see an annual $50 billion in the pot raised by cap-and-trade taxes, or from anywhere else, in the Obama budget that can be devoted to this new global entitlement? Obama is freely spending this unlikely loot already on all manner of social engineering — including (another fatal mistake) health care “reform.”
If wishes were horses . . .
The Obama crowd has us all riding headlong toward disaster. Yet I still have this nagging feeling the disaster might just end up falling exclusively on them.