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Cap and Trade bill passes House Friday, June 26

 

The American Clean Energy and Security Act (ACES Act) was passed by the US House of Representatives, 219 to 212, yesterday.

A simple majority of 218 votes was needed to pass the bill.

Only eight Republicans supported the bill, while forty-four Democrats did not.

Cap and Trade, as the bill is also known, places limits on emissions and pollution, and fines companies who exceed such limits.  Companies over the limit can offset their overage by purchasing carbon credits from companies operating below the limit, or via carbon sequestration strategies that, in one example, may pay farmers who farm sustainably.

The bill is reported to be over 1,500 pages long, with the addition of 300 new pages coming early on the morning of the vote.  

Some reports note that Rhode Island Representative, Patrick Kennedy, a democrat, was called out of rehab to vote on the legislation.

Speaking from the White House President Obama praised the passage of the bill, stating it will “finally create a set of incentives that will spark a clean energy transformation in our economy.  It will spur the development of low-carbon sources of energy, everything from wind, solar and geothermal power to safer nuclear energy and cleaner coal.”

The bill has come under criticism for potentially increasing energy costs.  It has been described by opponents as a “new energy tax.”  However President Obama lauded the bill, noting that the cost of pollution will be passed onto the polluters.  Whether these costs will ultimately be passed on to consumers remains unclear.

But what is clear is ACES will engender a new energy economy, one that will see the, “Creation of millions of new jobs.  Make no mistake, this is a jobs bill,” Obama said, citing an example of a new concentrated solar plant in California.  The plant will employ 3,000 people during construction, and retain 1,000 for operations.

“This legislation will finally make clean energy the profitable kind of energy,” the President said.  “Creating new businesses, new industries, and American jobs that pay well and cannot be outsourced.”  It will offer rural communities and farmers new revenue streams from emissions reduction strategies and renewable energy technologies.

He dismissed the concerns of increased costs of energy, saying that, “in about a decade, the price to the average American [of energy] will be just about a postage stamp a day." 

But controversy persists.  Concerns from the right question how much energy costs will increase during the transition to operable clean energy solutions, to meet the bill.  They fear consumers will be hit by large price increases, upfront.

The bill, also known as the Waxmam Markey bill, must still pass the senate.  Despite the close call in the house, with a democratic majority presiding in the senate, its passage is expected.

Comments

  • AntonioSosa 5 years ago

    The bill was indeed historic as far as the lies, manipulation, intimidation and bribes used to force the House to pass Obama’s jobs killing, economy killing bill! Corruption and coercion have reached levels previously seen only in Marxist dictatorships like those of Cuba or Venezuela.

    Obama’s Cap and trade is another giant step towards Marxism — and the corruption, poverty, enslavement, destruction and despair that Marxism entails.

    Obama is working much faster than Hugo Chavez at destroying the economy and imposing Marxism. No wonder the Russians are gloating:

    From Pravda: “…the American descent into Marxism is happening with breath taking speed, against the back drop of a passive, hapless sheeple, excuse me dear reader, I meant people…”

    We are NOT hapless sheeple! We must do whatever is necessary to defend ourselves and our children from the Marxist dictatorship that’s being set up in Washington.

  • Linda 5 years ago

    The "sheeple" only see what the mainstream media sets in front of them and only hear the propoganda. If they hear any opposition, they only think over-reaction or mis-information. Most have no idea what Marxism is and have never even been educated about it or what has set America apart from the rest of the world. I am stunned by what is going on and am doing what I can in my corner of the world. Is it enough to fight the lies and deceit? I guess we will soon find out...

  • Rick from Montana 5 years ago

    If this bill is passed in the Senate, the future of this country is in peril. We will become a slave to the federal government. We must put in place term limits to restrict the power of Washington. March on Washington people!

  • Jon Lewis 5 years ago

    Absolutely! This is Marxism, Socialism, and a destruction of our FREE Capitalist society. Why can't the government just lay off businesses and let them innovate in peace? I believe that in an unregulated free market that innovative entrepreneurs would be able to see a need in the market and act. I also believe that most people want to make a shift from oil to better sources of energy. There's a massive potential for wealth creation when we create new industries. In economics this is called a paradigm shift. This only happens in a free and unregulated market and economy. This bill sounds great, but is nothing more than a way for the government to regulate businesses more and more. This is not the American way and I am so angry at our politicians. But I'm also angry at our citizens that refused to get involved, study, and read about the constitution and event's surrounding the founding of this country.

  • Anthony 5 years ago

    We mourn the passing of Michael Jackson while our children are placed in shackles.

  • Cedric from Massachusetts 5 years ago

    mainly for Jon Lewis and those of the like, this new bill is going to create more jobs and lower energy costs.... not immediately, but in the long run... and as far as capitalism is concerned, America must remain a free enterprise... however, that does not mean the the government shall have no say... the government also has a place in american society. furthermore, if the government had done what it was supposed to do, Madoff would have never achieved success. People are greedy and need to be monitored...and who better to do that than UNCLE SAM? the country isn't the same as it was in 1776... our founding fathers wrote it for the times, but the country must still adapt with society or we are doomed to self destruct.... change is the mother of all risk, but change is not always bad.

  • Lo 5 years ago

    How is a carbon tax going to stop global warming? Where is the money going to anyway? No one has even read the bill. I can't take the absurdities of the US government anymore... Be afraid people, be very afraid. Every aspect of human activity taxed.. Great and no one talks about how carbon is part of the life cycle. People and animals breathe out carbon and plants breathe it in.. Too bad the majority of the public knows nothing and will believe whatever paid off politicians and mainstream media tells them. We are doomed as a species.

  • Caleb, North Bay Ca. 5 years ago

    The EU has been doing cap and trade for a few years now, rough at first while some lessons were learned, and we can take it from there and do well. I think we will. Some of these comments are out of place and exaggerated like a five year old that heard a monster. Cap and trade expands business through diversity while simultaneously limiting pollution. How blue are your skies compared to when you were a actually five year old ?, ask your friend in a city far away that question. Too, the future is not in your control, don't worry about it, act about it, why type your discontent when you can write/lobby a state or county official and make some progress to be proud of ?

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