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Congressional Climate Bills - Stealth Schemes to Raise Energy Prices and Enrich Wall Street - by Stephen Lendman
On June 26, 2009, HR 2454: American Clean Energy and Security Act of 2009 (ACESA) passed, purportedly "To create clean energy jobs, achieve energy independence, reduce global warming pollution and transition to a clean energy economy."
In fact, it lets energy polluters raise prices for huge windfall profits and gives Wall Street a bonanza through carbon trading derivatives speculation. Catherine Austin Fitts' Solari.com blog explained it last July in her article titled, "The Next Really Scary Bubble" is coming, saying:
"If you think the housing and credit bubble diminished your financial security and your community, or the bailouts, or the rising gas prices did as well, hold on to your hat" for what's ahead. "Carbon trading is gearing up to make the housing and derivative bubbles look like target practice," or in other words, be the mother of all scams, courtesy of administration, House and Senate collaboration with Wall Street and the energy giants.
Now the Senate version - a clean energy bill? Not according to the Center for Biological Diversity (biologicaldiversity.org) calling it:
"a disaster for our climate and planet. (The Kerry-Lieberman) proposal moves us one baby step forward and at least three giant steps back in any rational effort to address the climate crisis. (Their bill) would entrench our addiction to fossil fuels by offering incentives for increased oil and gas drilling just days after what appears to be the worst offshore oil disaster in American history."
Their proposal includes "no safeguards....to make offshore oil safe. (It) echoes greenhouse pollution reduction targets that scientists recently called 'paltry' and inadequate to prevent the worst impacts of climate change....The Kerry-Lieberman (bill) is not the answer because it asks the wrong questions."
New climate legislation must:
-- reduce "atmospheric carbon dioxide to 350 parts per million....;"
-- supplement "existing environmental laws - especially the Clean Air Act - instead of gutting these successful and proven environmental protections;"
-- be "free of loopholes allowing polluters to delay or avoid reducing their greenhouse gas emissions;" and
-- avoid "habitat destruction and increased greenhouse gas emissions through perverse subsidies."
House of Senate bills fail "these tests." They're "a disaster for our climate and planet." The House bill lets polluters "escape real emissions reductions." The Senate bill:
-- bans Clean Air Act provisions and "existing state and local efforts to tackle climate change;"
-- facilitates, subsidizes, and accelerates oil and gas drilling, including offshore;
-- "subsidize(s) dangerous and costly nuclear energy; and
