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Nuclear Providers Sell out Consumers, Back Cap and Trade

by: Scott Martin   posted: 2009-10-06 16:30:00
Viewed 328 times. 0 Comments.

When Big Business tells the federal government "yes, tax us more please," you can be pretty confident something shady is going on, and that the consumer will not be the beneficiary of it. In this case it's ownership of major energy providers backing the Waxman-Markey Cap and Trade bill, the proposal that would effectively cap American productivity by trading on fear of global warming.

In the past few weeks both Exelon, the nation's largest gas and electric utility, and PG&E (Pacific Gas and Electric) have backed out of the Chamber of Commerce over the business lobby's refusal to bend over to global warming alarmism.

In late August, the Chamber of Commerce called for a public hearing to challenge the "science" of man-made global warming, obviously the last things the alarmists want.

The U.S. Chamber of Commerce—the largest business lobby in the United States, and one of the most powerful—is pushing the Environmental Protection Agency to hold a public hearing intended to challenge the science of climate change in what Chamber officials are calling “the Scopes monkey trial of the 21st century.”

People who would like a little proof that man-made global warming exists, that it would be a bad thing if it does exist, and that it could be reversed if it did exist are steaming mad at the corporate suits of the energy providers, and just a little suspicious of their motivation in begging to be taxed up the wazzoo. An Exelon shareholder sent me this open letter to Exelon CEO John Rowe, telling me he would be more than interested in any response from the CEO.

Dear Mr. Rowe,

You have been a leading spokesperson for limiting Carbon emissions. I am sure you were initially driven by your belief that we must save the planet from the coming catastrophe. Now you and your fellow Nuclear Executives from around the country are up against the U. S. Chamber of Commerce. This organization has the brass to question the science behind man-made global warming and has called for a trial to decide if we have a real problem. Exelon Nuclear and PG&E, two mega electricity companies have dropped out of that group, claiming they are just not listening to the majority of scientists.

As your spokespersons have stated, a lot is at stake. If we do not take action, we could have flooding, droughts, and devastation starring us in the face. If we do take action, your people have said, not only will we save the planet, but Exelon will make over a billion dollars a year in profit.

My challenge to you Mr. Rowe, is to have a few of your best engineers review the latest data. A great source for peer reviewed scientific data can be found at scienceandpublicpolicy.org. What your engineers will find may surprise you. For example, the University of Illinois found that global sea ice extent shows little trend over the last 30 years. The articles you read in the main stream media focus on the arctic ocean sea ice changes that show the arctic ice cap shrinking. What you will not read is that this shrinkage has been offset by the ice accumulation of the Antarctic ice sheets! Who says are media is not biased.

Your engineers will also find that the upper 400 fathoms of the world’s oceans have not warmed at all since the 1960s. You will learn that the 3300 Argo bathythermograph buoys deployed throughout the world’s oceans in 2003 have shown a slight cooling of the oceans. What about your deadly hurricanes caused by global warming? A Florida state study found that Hurricane activity is at its lowest since satellite monitoring began in 1979. CO2 increases? Remember that CO2 hockey stick shaped graph based on bad science? Observed CO2 growth is linear, and is also well below the exponential-growth curves predicted by the IPCC in its 2007 report. If CO2 continues on its present path, the IPCC’s central temperature projection for the year 2100 must be halved.

After getting the Engineer’s report, please take your ethics course that you make all your employees take each year. Then tell us again why you support the Waxman/Markey Climate Bill. The bill that might cut sea-level by less than half an inch by 2100 and change global temperatures by 0.2 degrees Fahrenheit, at a cost of $18 trillion. Is it really to “save the planet” or is it the billion plus your company will pocket from the additional revenue from us poor, uninformed consumers? And please don’t tell us how raising energy costs will help us grow the economy. We may not be as smart as you executive lawyers, but we're not that dumb!

My guess is that you are ethically challenged and you and your fellow CEOs will continue to pay off politicians to vote for Cap and Trade and higher energy costs. Please prove me wrong Mr. Rowe. Don’t go down in history as another Bernie Madoff, having bilked the public out of billions of dollars.

John Kerry and Barbara Boxer, using flawed climate projections, tell us that we must pass Cap and Trade now. The Waxman-Markey bill would cap emissions of greenhouse gases at 17 percent below 2005 levels by 2020 and 83 percent by 2050. The bill would also set a 20 percent renewable energy and energy efficiency standard by 2020.

The electricity sector would be allocated 35 percent of emission allowances to protect consumers from power cost increases, under a national cap-and-trade system. States and local natural gas distribution companies would also receive initial emissions allowances for free, according to language that committee Democrats agreed to.

Energy consumption combined with greenhouse gas emission is a leading indicator of economic productivity. Reduce energy consumption and you have a less productive economy. That's too large of a price to pay to solve a problem that many scientists believe does not even exist.

UPDATE: I just read a related piece at American Thinker that was pretty interesting. Check it out: Taxes Pervert Energy Choices

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