Fox: Obama to sign new CO2 restrictions by executive order
If you haven’t already suspected, I would be labelled as a “global warming….errr…climate change denier”. When the “science” starts making sense – I’ll start believing. Pretty sure that won’t be happening soon.
Fox Business Host Stuart Varney reports that Obama plans to sign an executive order by next week to unilaterally impose new laws mandating CO2 restrictions since he can’t get the laws passed through congress.
Apparently our Dear Leader doesn’t give a Tinker’s damn about the economy. With the passage of Obamacare, and his having already dramatically expanded the federal government’s role in banks, student loans, auto making, health care, real estate, insurance, and energy industries, it’s already crystal clear he doesn’t give a crap what the American people want.
As James M. Taylor notes at Capitalist Magazine, if you enjoyed last summer’s exploding gasoline prices, you’re really going to love the rise in gasoline prices, electricity prices, and unemployment, as well as the reduction in annual household income, that carbon dioxide restrictions will impose on the economy:
Science Applications International Corporation (SAIC), which serves as a contractor to several federal government agencies, last year analyzed the economic consequences of a 70 percent cut in carbon dioxide emissions by the year 2050. SAIC used the U.S. Energy Information AdministrationÃ’s National Energy Modeling System under two different scenarios. SAIC analyzed the economic consequences under a “low cost” scenario in which nuclear power, clean coal, and other relatively cost-effective but environmentally controversial means are employed to meet the 70 percent reduction, and a “high cost” scenario in which nuclear power plants, clean coal plants, etc., do not play a major role in carbon dioxide reductions. Under either scenario, the economic consequences to American consumers will be devastating.
According to the U.S. Energy Information Administration’s economic forecasting model, a 70 percent cut in carbon dioxide emissions will cause gasoline prices to rise 77 percent over baseline projections, will cause electricity prices to more than double over baseline projections, will kill more than 3 million jobs versus baseline projections, and will reduce average household income by more than $4,000 each and every year.
If these numbers make you shudder, here comes the really bad news: That was the “low cost” scenario.
Remember, America, you elected this socialist moron. And he’s just getting started.