Posted by clubsodaandsalt on May 29, 2007
So while most of us are arguing about the relative merits of a carbon tax vs. a cap-and-trade regime, some Congresspeople are thinking outside of the box! What’s even better than those? Why, how about subsidizing extra carbon emissions? That’s right… people like Dick Gephardt have apparently decided that what we need is more carbon via more coal-based energy, and they think that we, the taxpayers, should PAY for the privilege!
Are these people for real? I especially like the details (emphasis mine):
Among the proposed inducements winding through House and Senate committees: loan guarantees for six to 10 major coal-to-liquid plants, each likely to cost at least $3 billion; a tax credit of 51 cents for every gallon of coal-based fuel sold through 2020; automatic subsidies if oil prices drop below $40 a barrel; and permission for the Air Force to sign 25-year contracts for almost a billion gallons a year of coal-based jet fuel.
So they want even BIGGER subsidies if oil gets cheaper? Huh? Do they also want extra money if we discover fusion power? You know, just for complete protection against any competition. And to think ol’ Dick wanted to be the Democratic nominee for Prez….
Upsetting addendum: Obama is also supporting this nonsense. Bad candidate! Bad! I am so going to send him a stern message on Twitter!