Tuesday, April 16, 2024
Hawai'i Free Press

Current Articles | Archives

Thursday, November 5, 2009
Global warmers' nuclear fantasies
By Heritage Foundation @ 11:03 AM :: 4679 Views :: National News, Ethics

Cap And Trade’s Mandates And Subsidies Are Wrong

Following major defeats at the ballot box on Tuesday, the left’s legislative agenda suffered another huge setback yesterday when once wavering Sens. Lindsey Graham (R-SC), Judd Gregg (R-NH), Olympia Snowe (R-ME), and Susan Collins (R-ME) all signed a letter supporting Sen. George Voinovich’s (R-OH) demand that the Environmental Protection Agency provide a thorough analysis of how the Kerry-Boxer cap and trade legislation will impact the U.S. economy. Sen. Barbara Boxer (D-CA) had been pressing for swift passage of her cap and tax legislation, but conservatives on the Environment and Public Works Committee thwarted her efforts by boycotting a vote on the legislation Tuesday.

(Editor's Note: Without at least two Republicans in attendance, committee rules prevent the introduction of amendments. But the committee passed the Boxer-Kerry bill un-amended Thursday morning by a Democrats-only 10-1 vote.  The failure of Boxer to introduce amendments will endanger her ability to win the votes of coal state senators doubtful about the effect of gutting a key home-district industry on their reelection chances.)

An EPA analysis on the economic costs of cap and trade is no small issue. If Tuesday’s elections proved anything, it is that jobs and economic growth are the top concern on Americans’ minds. The Heritage Foundation’s Center for Data Analysis has found that cap and tax legislation would cost the average family-of-four almost $3,000 per year, cause 2.5 million net job losses by 2035, and a produce a cumulative gross domestic product (GDP) loss of $9.4 trillion between 2012 and 2035. The EPA has issued preliminary reports reaching different conclusions; including an October 23 report on Kerry-Boxer that found it would only cost the average American family $80 to $111 dollars per year.

There are many fundamental problems with that EPA report, none more glaring than their fanciful assumption that nuclear power generation will nearly double in the next 25 years. This is the equivalent of about 100 additional nuclear power plants. The reality is that in the past 30 years, not one new nuclear power plant has been licensed. More importantly, the Kerry-Boxer approach to reviving the nuclear energy relies on the same failed policies that have crippled the U.S. nuclear energy for the past 30 years. Heritage fellows Jack Spencer and Nick Loris explain:

Washington has a role to play in reducing financial barriers, but not by funding projects with taxpayer dollars. The regulatory costs and uncertainty posed by the federal bureaucracy represent significant risk to the success of the nuclear industry, just as regulatory uncertainty significantly affected the timing and budget of past nuclear plant construction. Indeed, this risk and uncertainty results in the higher prices that are most often used to justify government subsidies for nuclear projects. Efforts to reduce that risk by reforming the most obvious areas, such as the regulatory process and waste management, are nowhere to be found in the bill.

Instead, the bill attempts to reduce the financial risk caused by regulatory delays and technological development by expanding the federal government’s responsibility — and authority — on the technical side. It promotes government intervention into areas that are either unnecessary or that should reside solely in the private sector. For example, the Boxer-Kerry bill creates a research and development program to assess plant aging, improve plant performance, engineer safer fuels, and lower overall costs. These are all areas currently being addressed by the private sector and already supported by public institutions and funds.

Instead of handing out more government subsidies to compensate for increased government regulation, Congress should be heading in the exact opposite direction. What the nuclear industry really needs is an end to market distorting loan guarantees, a streamlined permit process for new plants and reactor designs, market reforms for nuclear waste management, and the ability to recycle spent fuel. America can create thousands of new jobs through an expansion of the energy sector. But just as with oil, coal, and natural gas, the less government intervention in the market, the better.

---30---

RELATED: SENATE PANEL APPROVES 'GLOBAL WARMING' BILL OVER REPUBLICAN OPPOSITION


QUICK HITS

  • Following major losses on Tuesday, Democrats on Capitol Hill are questioning whether they should continue supporting President Barack Obama’s agenda instead of job creation.
  • With some Democrats wavering after Tuesday’s election, House Democratic leaders are pushing for a vote on their sweeping health-care bill this Saturday.
  • According to the Washington Post, inability to lower taxes was a major factor contributing to New Jersey Gov. Jon Corzine’s (D) loss on Tuesday.
  • According to Gallup, a majority of Americans now see President Barack Obama as governing from the left as compared to one year ago when as many Americans expected him to be moderate as to be liberal.
  • According to an Associated Press analysis of the Obama administration’s stimulus jobs report, more than two-thirds of the 14,506 jobs credited to the recovery act by Head Start programs simply involved pay increases.

Recent Entries

Links

TEXT "follow HawaiiFreePress" to 40404

Register to Vote

2aHawaii

808 Silent Majority

Aloha Pregnancy Care Center

AntiPlanner

Antonio Gramsci Reading List

A Place for Women in Waipio

Ballotpedia Hawaii

Broken Trust

Build More Hawaiian Homes Working Group

Christian Homeschoolers of Hawaii

Cliff Slater's Second Opinion

DVids Hawaii

FIRE

Fix Oahu!

Frontline: The Fixers

Genetic Literacy Project

Grassroot Institute

Habele.org

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii ConCon Info

Hawaii Debt Clock

Hawaii Defense Foundation

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federalist Society

Hawaii Federation of Republican Women

Hawaii History Blog

Hawaii Homeschool Association

Hawaii Jihadi Trial

Hawaii Legal News

Hawaii Legal Short-Term Rental Alliance

Hawaii Matters

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Shippers Council

Hawaii Smokers Alliance

Hawaii State Data Lab

Hawaii Together

HIEC.Coop

HiFiCo

Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Moms for Liberty

Honolulu Navy League

Honolulu Traffic

House Minority Blog

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

Investigative Project on Terrorism

July 4 in Hawaii

Kakaako Cares

Keep Hawaii's Heroes

Land and Power in Hawaii

Legislative Committee Analysis Tool

Lessons in Firearm Education

Lingle Years

Managed Care Matters -- Hawaii

Malama Pregnancy Center of Maui

MentalIllnessPolicy.org

Military Home Educators' Network Oahu

Missile Defense Advocacy

MIS Veterans Hawaii

NAMI Hawaii

Natatorium.org

National Christian Foundation Hawaii

National Parents Org Hawaii

NFIB Hawaii News

No GMO Means No Aloha

Not Dead Yet, Hawaii

NRA-ILA Hawaii

Oahu Alternative Transport

Obookiah

OHA Lies

Opt Out Today

OurFutureHawaii.com

Patients Rights Council Hawaii

PEACE Hawaii

People vs Machine

Practical Policy Institute of Hawaii

Pritchett Cartoons

Pro-GMO Hawaii

P.U.E.O.

RailRipoff.com

Rental by Owner Awareness Assn

ReRoute the Rail

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

Robotics Organizing Committee

School Choice in Hawaii

SenatorFong.com

Sink the Jones Act

Statehood for Guam

Talking Tax

Tax Foundation of Hawaii

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

UCC Truths

US Tax Foundation Hawaii Info

VAREP Honolulu

Waagey.org

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii

Yes2TMT