Hard Truth Week in Review – Cap and Trade Edition
My oldest son and I spent most of the weekend at the lake, performing some maintenance tasks and relaxing while contemplating the world’s energy problems. He takes after his old man – and then some – in his interest and understanding of technology.
He and I agree on an essential point: We must radically and immediately reduce our dependence on oil, with the fervor and intensity dedicated to the “let’s put an American on the moon” ambitions of the 1960’s. We recognize how the U.S. car companies have repeatedly over the years – and sometimes deliberately – failed to make a serious effort to commercialize alternative energy vehicles. They tease us with concept cars to create an appearance of trying, then – nothing. For GM and Chrysler it’s now too little, too late.
That causes me to call your attention to some “cap and trade” readings that you might find to be of interest.
I will start with Penny Jobs’ take on how the proposed cap and trade plan will cost jobs and increase taxes for all of us. Every time Al Gore sticks his nose into the climate change business, I feel compelled to remind folks that he is from my state of Tennessee but Tennessee voters do not support him. That should tell you something.
The Big Money has a brief discussion (and some related links) of the EU experience with cap and trade which has exposed some flaws affecting costs in unintended ways.
Speaking of Europe, many of those countries do a much better job of using nuclear power than we do. For example, France generates 75% of its electricity from nuclear, compared to our measly 20%. We are victims of an unscientific and illogical aversion to nuclear power generation. Maybe the coal industry lobbyists have something to do with that.
Finally, NPR takes a look at the “musical chairs” aspect of the cap and trade features of the pending climate change bill. Even this bastion of liberal reporting realizes that energy costs for most of us are almost certain to increase from cap and trade implementation.
While you are in the reading mood, don’t forget this week’s Carnival of Personal Finance.
Enjoy the rest of your week-end.