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Senate Republicans fight to block Democrats from imposing energy tax

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From the Wall Street Journal. (H/T Marathon Pundit)

Excerpt:

The Environmental Protection Agency debate lands in the Senate this week, amid the makings of a left-right coalition to mitigate the agency’s abuses. Few other votes this year could do more to help the private economy—but only if enough Democrats are willing to buck the White House.

This moment arrived unexpectedly, with Majority Leader Harry Reid opening a small business bill to amendments. Republican leader Mitch McConnell promptly introduced a rider to strip the EPA of the carbon regulation authority that the Obama Administration has given itself. Two weeks ago, Mr. Reid pulled the bill from the floor once it became clear Mr. McConnell might have the 13 Democrats he needs to clear 60.

[…]A vote to overrule the EPA is also needed to remove the regulatory uncertainty hanging over the economy. This harm is already apparent in energy, where the EPA is trying to drive coal-fired power out of existence. The core electricity generation that the country needs to meet future demand is not being built, and it won’t be until the EPA is bridled. This same dynamic is also chilling the natural gas boom in the Northeast, and it is making U.S. energy-intensive industries less competitive world-wide.

As the EPA screws tighten, the costs will be passed along to consumers, with the same damage as a tax increase but none of the revenues. Eventually, the EPA plan will appreciably lower the U.S. standard of living. Hardest hit will be the middle-American regions that rely on coal or heavy industry, though the EPA bulldozer will run over small businesses too. The Clean Air Act, once the carbon doomsday machine has been activated, won’t merely apply to “major” sources of emissions like power plants or factories. Its reach will include schools, farms, hospitals, restaurants, basically any large building.

It’s not enough that the Democrats caused the recession through their affirmative action mortgage lending to unqualified borrowers, now they have to go and pass an energy tax, too. Not to mention their efforts to block domestic energy development, which only makes prices go higher. When will they learn?

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Government report: US has world’s largest supply of oil, natural gas and coal

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Here’s the press release. (H/T Canada Free Press)

Abstract:

Sen. James M. Inhofe (R-Okla.), Ranking Member of the Senate Committee on Environment and Public Works, and Sen. Lisa Murkowski (R-Alaska), Ranking Member of the Senate Energy and Natural Resources Committee, today released an updated government report from the Congressional Research Service (CRS) showing America’s combined recoverable oil, natural gas, and coal endowment is the largest on Earth. America’s recoverable resources are far larger than those of Saudi Arabia (3rd), China (4th), and Canada (6th) combined.  And that’s not including America’s immense oil shale and methane hydrates deposits.

Details:

Oil

CRS offers a more accurate reflection of America’s substantial oil resources.  While America is often depicted as possessing just 2 or 3 percent of the world’s oil – a figure which narrowly relies on America’s proven reserves of just 28 billion barrels – CRS has compiled US government estimates which show that America, the world’s third-largest oil producer, is endowed with 163 billion barrels of recoverable oil. That’s enough oil to maintain America’s current rates of production and replace imports from the Persian Gulf for more than 50 years.

Natural Gas

Further, CRS notes the 2009 assessment from the Potential Gas Committee, which estimates America’s future supply of natural gas is 2,047 trillion cubic feet (TCF) – an increase of more than 25 percent just since the Committee’s 2006 estimate.  At today’s rate of use, this is enough natural gas to meet American demand for 90 years.

Coal

The report also shows that America is number one in coal resources, accounting for more than 28 percent of the world’s coal. Russia, China, and India are in a distant 2nd, 3rd, and 5th, respectively. In fact, CRS cites America’s recoverable coal reserves to be 262 billion short tons. For perspective, the US consumes just 1.2 billion short tons of coal per year.  And though portions of this resource may not be accessible or economically recoverable today, these estimates could ultimately prove to be conservative.  As CRS states: “…U.S. coal resource estimates do not include some potentially massive deposits of coal that exist in northwestern Alaska.  These currently inaccessible coal deposits have been estimated to be more than 3,200 billion short tons of coal.”

Oil Shale

While several pilot projects are underway to prove oil shale’s future commercial viability, the Green River Formation located within Colorado, Wyoming, and Utah contains the equivalent of 6 trillion barrels of oil.  The Department of Energy estimates that, of this 6 trillion, approximately 1.38 trillion barrels are potentially recoverable.  That’s equivalent to more than five times the conventional oil reserves of Saudi Arabia.

Methane Hydrates

Although not yet commercially feasible, methane hydrates, according to the Department of Energy, possess energy content that is “immense … possibly exceeding the combined energy content of all other known fossil fuels.” While estimates vary significantly, the United States Geological Survey (USGS) recently testified that: “the mean in-place gas hydrate resource for the entire United States is estimated to be 320,000 TCF of gas.” For perspective, if just 3% of this resource can be commercialized in the years ahead, at current rates of consumption, that level of supply would be enough to provide America’s natural gas for more than 400 years.

The press release has lots of informative graphs.

The PDF of the full report is here.

Obama keeps blocking energy production at home, and sending taxpayer money (and jobs) to countries in the Middle East, some of who don’t like us very much. What would possess a president to undermine the national security and economy of his own country that way? Why does he want to raise the cost of living for his fellow citizens and send jobs overseas to the Middle East?

News

UN IPCC official admits that climate policy is about wealth redistribution

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From Newsbusters. (H/T ECM)

Excerpt:

If you needed any more evidence that the entire theory of manmade global warming was a scheme to redistribute wealth you got it Sunday when a leading member of the United Nations Intergovernmental Panel on Climate Change told a German news outlet, “[W]e redistribute de facto the world’s wealth by climate policy.”

Such was originally published by Germany’s NZZ Online Sunday, and reprinted in English by the Global Warming Policy Foundation moments ago:

(NZZ AM SONNTAG): The new thing about your proposal for a Global Deal is the stress on the importance of development policy for climate policy. Until now, many think of aid when they hear development policies.

(OTTMAR EDENHOFER, UN IPCC OFFICIAL): That will change immediately if global emission rights are distributed. If this happens, on a per capita basis, then Africa will be the big winner, and huge amounts of money will flow there. This will have enormous implications for development policy. And it will raise the question if these countries can deal responsibly with so much money at all.

(NZZ): That does not sound anymore like the climate policy that we know.

(EDENHOFER): Basically it’s a big mistake to discuss climate policy separately from the major themes of globalization. The climate summit in Cancun at the end of the month is not a climate conference, but one of the largest economic conferences since the Second World War. Why? Because we have 11,000 gigatons of carbon in the coal reserves in the soil under our feet – and we must emit only 400 gigatons in the atmosphere if we want to keep the 2-degree target. 11 000 to 400 – there is no getting around the fact that most of the fossil reserves must remain in the soil.

(NZZ): De facto, this means an expropriation of the countries with natural resources. This leads to a very different development from that which has been triggered by development policy.

(EDENHOFER): First of all, developed countries have basically expropriated the atmosphere of the world community. But one must say clearly that we redistribute de facto the world’s wealth by climate policy. Obviously, the owners of coal and oil will not be enthusiastic about this. One has to free oneself from the illusion that international climate policy is environmental policy. This has almost nothing to do with environmental policy anymore, with problems such as deforestation or the ozone hole.

For the record, Edenhofer was co-chair of the IPCC’s Working Group III, and was a lead author of the IPCC’s Fourth Assessment Report released in 2007 which controversially concluded, “Most of the observed increase in global average temperatures since the mid-20th century is very likely due to the observed increase in anthropogenic greenhouse gas concentrations.”

It’s not about global warming, it’s about socialism.