Someone Finally Read The Bill

None of the 219 Representatives who voted for Waxman-Markey actually read the bill before the vote, as it was still being assembled - with its 300 page last minute amendment - at the podium as the debate and vote were occurring.  The fine folks at National Review have gone through it now, however, in advance of Senate debate on the measure, and have discovered 50 things wrong with the bill.  Some are amusing, most are sad, and all are worth a look.  By the way, I think it's likely that the number 50 is a low estimate.  Here's a taste.

5. In addition to the permits, the bill also allows for the creation of “offsets” — the medieval-style indulgences of the carbon-footprint world. In fact, nearly all of Waxman-Markey’s carbon-reduction targets can be met with offsets alone through 2050, meaning decades before any actual reduction of greenhouse gases is required. That means huge new expenses for small businesses and consumers in return for basically zero environmental improvement.

This is, in fact, the best evidence yet that CO2 producing a large global warming effect is nonsense.  For if it were the case then this bill, as onerous as it is in terms of cost yet doing nothing to reduce emissions, would be howled at, not lauded, by the administration and other true believers.  Mr. Krugman instead took the opportunity to attack those who voted against it.  And if that wasn't enough evidence,

9. Waxman-Markey directs the EPA to ignore the real environmental impact of ethanol and other biofuels. The gigantic subsidies lavished on the farm lobby through the ethanol program encourage farmers to clear forest land to plant corn — a net environmental loss that the use of ethanol does nothing to offset.

It wouldn't be a Democrat-authored bill without union protectionism.  Here are two items that do just that.

12. Waxman-Markey provides an excuse for trade protectionism. The bill will give the Obama administration broad new powers to enact tariffs on imports from jurisdictions that have not had the poor sense to enact similar legislation, meaning that it invites both politically driven trade protectionism and retaliatory measures from abroad in the service of an empty green dream.

14. Naturally, Big Labor gets its piece of the pie, too. Projects receiving grants and financing under Waxman-Markey provisions will be required to implement Davis-Bacon union-wage rules, making it hard for non-union firms to compete — and ensuring that these “investments” pay out inflated union wages.

The former increase the cost of foreign competition once these green tariffs are applied, the latter increases the cost of doing business for non-union businesses by unilaterally ordering pay raises.  And if those cost increases weren't enough, there's this.

18. The legislation calls for the establishment of a Carbon Storage Research Corporation (CSRC) to steer $1 billion annually into the development of carbon-capture technologies. The CSRC would be funded via assessments on utility companies. Hear that? It’s the sound of another charge being added to your bill.

And, of course, ACORN gets a cut.  Another payoff to loyal Democrats.

42. Another Obama constituency, the community-organizing gang — i.e., ACORN — will be eligible to receive billions in funding as the bill “authorizes the Secretary [of Energy] to make grants to community development organizations to provide financing to businesses and projects that improve energy efficiency.” Think federally subsidized consultants paid $55 an hour to tell businesses to turn down their AC in the summer.

A billion here, a billion there, and pretty soon you're talking about real money.  Have a look at the whole list for the complete picture.  Then call your senator, particularly those of you in Maine, Nebraska, Louisiana, Ohio, and Pennsylvania.  My own senators (NH), unfortunately, are set on this.  One will vote for, one against.

7/3/09 0910:  Meanwhile, why so afraid of dissenting views?  And "the largest corporate welfare program" ever?