In case you missed it, late Friday afternoon, the American Clean Energy and Security Act (HR 2454) passed the House by a narrow vote of 219-212. The so-called climate bill - because it establishes a national cap and trade system - will now go to the Senate, where revisions are expected to the 1,200-page document before another vote. The bill will cut US emissions by 17 percent by 2020 and 80 percent by 2050, compared with 2005 standards.
For the House version, in addition to the cap and trade, the bill would set a national energy efficiency code to reduce commercial building use by 30 percent now and 50 percent by 2015, with a 5 percent reduction every year after that, beginning in 2018. The bill (also known as Waxman-Markey) also establishes a national renewable energy portfolio standard, requiring energy utilities to generate 20 percent of their electricity from renewable sources by 2020.
Here's a video of President Obama praising the House vote. Stay tuned to see what happens in the Senate - Democratic Senate leaders are expected to fast-track the bill, which means debate could begin as early as September or October.
They're fast tracking alright, here is why:
online.wsj.com/.../SB124597505076157449.html\
I believe we all know we MUST move away from fossil fuels regardless of your position on Global Warming. Let's do it through INCENTIVES rather that than taxation in an already crippled economy.
Let's not repeat the mistakes of the past:
en.wikipedia.org/.../Great_Depression
seekingalpha.com/.../105002-lessons-from-the-great-depression-and-one-of-the-biggest-tax-hikes-in-u-s-history
www.econlib.org/.../GreatDepression.html
Yeah, they passed it in the House. So lets hang on to our Muk Luks because if they pass it in the Senate we are all in for the biggest TAX INCREASE in the history of our country. I have read most of the finer sections of the bill and I am astounded in the lack of rational thinking. Building codes are about to be changed so rapidly that construction will screech to a halt. I truly believe in saving our planet, but lets be reasonable and let our country get back on an even keel before we do such drastic remodeling of our world. We here in California are saddled with some of the most unrelenting restrictions known to man when it comes to building and construction, and they want us to be a model?? We are broke, kaput, out of funds and mostly because of restrictions and laws regarding environmental concerns. Pray and Pray loudly that your states do not ever have to adhere to California building codes, just for the sake of the enviornment. If it wasn't for the earthquakes here, I would probably move out (kind of nice to feel the earth move once in a while). Watch this bill very close.