Part 4 - All cap and trade programs are not created equal.
by Michael Williams
June 25, 2009
Proponents of Waxman-Markey argue that the CO2 cap and trade bill is similar to the cap and trade program enacted by the Clean Air Act of 1990 (CAA), which reduced the sulfur emissions that cause acid rain.
Not quite.
The sulfur dioxide program initially targeted only 110 coal-fired power plants. It was eventually expanded to 445 power plants. CO2 and GHG are emitted from power plants. They are also released from refineries, industrial plants, planes, trains, automobiles, ships, home furnaces, fertilizer production, farm animals, and millions of other sources, including humans. Most mosquito and insect traps emit CO2.
Waxman-Markey proposes a comprehensive, economy-wide emission regulatory scheme where millions of different and individual sources of emissions come under its purview. That is a far cry from 445 power plants and is another dangerous power grab by the federal government.
Also, many low-cost sulfur dioxide control options existed when the CAA took effect. This is not the case with carbon dioxide control technologies. There are few, if any, control technologies that are commercially available at commercially competitive prices. For instance, in 1990, power generators could reduce sulfur dioxide emissions by using “low-sulfur coal”. There is no “low-carbon dioxide coal” and clean coal with carbon capture and storage, while promising, has yet to be proven.
Energy conservation and efficiency, wind, solar, biomass and other alternative energy technologies will assume an ever-greater portion of our national electricity portfolio. But in the near future, affordable baseload power will be provided by natural gas, clean coal, nuclear, and where available, hydro because those sources are not dependent on weather conditions to generate power.
Wind, solar and other clean, renewable energy sources simply cannot meet our nation’s energy needs today. But we can get there in time. We cannot get there, however, if we continue putting additional financial strains on those who have the technology and the capital to develop these clean technologies.
Don't forget to with your friends.
How will "cap and trade" affect your household? Use The Tax Foundation's cap and trade calculator.
Comments
theqdt Sep 28, 2009