Platform of the American People

Supporters of a "market-based cap" on carbon emissions (which is what the Obama administration has proposed) claim that America successfully reduced sulfur dioxide (SO2) emissions under the Acid Rain Program (ARP) through a tradable permits system.  But as AEI scholars Ken Green, Steve Hayward, and Kevin Hassett explained in 2007, ARP differs greatly from capping carbon emissions.

"...SO2 and CO2 are not comparable targets for emissions reduction. Reducing SO2 emissions did not require any constraint on end-use energy production or consumption. Coal-fired power plants had many low-cost options to reduce SO2 emissions without reducing electricity production. Some switched to low-sulfur coal (abetted in large part by railroad deregulation in the 1980s, which made transport of Western low-sulfur coal more economical than previously). The cost of "scrubbers"--industrial devices which capture SO2 and sequester it--turned out to be lower than predicted. Other utilities emphasized more use of natural gas. The impact on ratepayers and consumers was modest.

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As the Congress attempts to push through a devastating energy tax, members should look to the European Union for guidance.  The EU implemented a cap and trade system, which President Obama supports, in 2005 aiming to reach the Kyoto Protocol's target of reducing greenhouse gas emissions by 8% of 1990 levels by 2012. Europe's experiment with cap and trade has turned into a bureaucratic mess that has failed to live up to its initial expectations. A report by the GAO reveals that the supply of carbon permits has exceeded the demand causing allowance prices to fall substantially. This policy failure has caused the European economy to suffer and expectations to reduce CO2 emissions have been lowered.

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Media Matters for America (MMFA), as is their wont, is providing "facts" that totally obscure the truth.

They're writing that Newt Gingrich "falsely claimed" on his Twitter page that there had been no oil spills off of the Santa Barbara coast since 1969 (Mr. Gingrich tweeted: "Callista pointed out flying into santa barbara you can see the oil rigs off shore Ironically they have had no spill since 1969.")

Media Matters then referenced "at least two oil spills reported in or near the Santa Barbara Channel in just the last few months."

The "two oil spills" claim from Media Matters is misleading, as only one of the two reported spills was actually crude oil, and more importantly its impact was virtually non-existent. more »

Even with relatively low oil prices, the American people still strongly support offshore oil and gas drilling. A new Harris Interactive poll, conducted February 13 - February 16, 2009, echoes the support Americans voiced before and after November's elections:... more »

...say industry analysts.

The same cheap oil that's providing relief to drivers and businesses in an awful economy is setting the stage for another price spike, perhaps as soon as next year, that will bring back painful memories of last summer's $4-a-gallon gas.

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American Solutions recently held its second annual Solutions Day to create an action plan for energy. America is suffering from an artificial energy crisis that is also a dangerous national security crisis - artificial because America is gifted with enormous reserves of energy, and dangerous because it makes us vulnerable to unreliable and potentially hostile countries. more »

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