Archive for the “Economics” Category

North Dakota Attorney General Wayne Stenehjem is announcing a lawsuit against the State of Minnesota over the latter state’s restrictions on using power from coal plants, among other sources.

“It is unfortunate it has come to this. As Minnesota seeks to rebuild its economy, it will need energy,” said Stenehjem in a press release. “Much of that energy will need to come from sources outside Minnesota.”

In its lawsuit, North Dakota alleges that the Next Generation Energy Act violates the Commerce Clause of the United States Constitution, unconstitutionally interfering with North Dakota’s energy production. The NGEA imposes prohibitions on energy imported from North Dakota, and while the law does make some exemptions the State of North Dakota is alleging that those exemptions benefit only Minnesota-based businesses and projects.

Read the rest at Plains Daily.

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Senator Lisa Murkowski (R - Alaska)

Senator Lisa Murkowski (R - Alaska)

By Phil Kerpen

President Obama has been very made clear that his top domestic priorities are health care and global warming. We all know what happened on health care. Now the date is set for the key Senate showdown on global warming: June 10. That’s when the Senate will vote on a resolution introduced by Alaska Senator Lisa Murkowski (S.J. Res. 26) that would overturn the EPA’s global warming regulations. It’s not subject to filibuster. There is no place for weak-kneed senators to hide. In just two weeks we’ll know where every member of the Senate stands.As I’ve previously discussed here in the Fox Forum and documented on www.ObamaChart.com, the Obama administration is not waiting for Congress to enact a national cap-and-trade program to move ahead with its global warming agenda.

Under the watchful eye of White House Climate czar Carol Browner (who originally developed the legal theory of using the 1970 Clean Air Act as a global warming law, bypassing Congress) the EPA is moving forward on a staggering regulatory power grab that includes about 18,000 pages of appendices and will eventually regulate nearly every aspect of the U.S. economy.

Read the rest of this editorial at Fox News.

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lieberman-180By Reuters

Sen. John Kerry (D-Mass.) and Sen. Joseph Lieberman (I-Conn.) are scheduled to formally unveil on Wednesday a compromise U.S. climate change bill they want passed this year.

Besides bringing down emissions of carbon dioxide and other gases blamed for global warming, it would expand offshore oil drilling and nuclear-power production in a move to appeal to a broader number of senators.

Here are highlights of the bill, called the “American Power Act,” according to a summary of the legislation being circulated to senators and obtained by Reuters:

Carbon emissions reductions
By 2020, carbon pollution would be cut by 17 percent from 2005 levels. By 2050, a reduction of more than 80 percent would be achieved. These are the same goals included in the climate bill passed by the House of Representatives in June. The short-term goal is slightly less than the 20 percent cut approved in November by the Senate Environment and Public Works Committee.

The summary did not specify, but sources have said the carbon-reduction requirements on utilities would begin in 2013.

Carbon price collar
Carbon prices would rise at a fixed rate over inflation. Initially, floor and ceiling prices for carbon pollution permits required of electric utilities would be set at $12-$25. The floor would increase at 3 percent annually over inflation and the ceiling at 5 percent annually over inflation.

In the event of unusually high carbon prices, a strategic reserve would ensure the availability of “price-certain allowances.”

Backers aren’t calling it “cap and trade,” but in practice, that is what it appears to be.

Read the rest of this story at Cnet.

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Pat-MichaelsDamn the Data; Full Speed Ahead!

By Dr. Pat Michaels

Climategate, Copenhagen, Snowmageddon in the nation’s capital, the EPA ruling that CO2 endangers us all, and Senate Republicans pushing for a global-warming tax. Has it been a great run-up to Earth Day, or what?

Never has a public-policy agenda been pursued with so little regard for scientific fact or public opinion. In March, 48 percent of Americans agreed that global warming, while real, is exaggerated. When Gallup first asked this question in 1997, only 31 percent thought the threat exaggerated.

Despite this shift in sentiment, Sens. Lindsey Graham (R., S.C.) and John Kerry (D., Mass.) and President Obama insist upon ramming a new global-warming tax (called a “fee”) through the Senate. The bill is slated to be introduced next week, and vulnerable Democrats — weary already from the pugilistic health-care debate — are fleeing the legislation in droves.

And for the measure’s primary backers, the backdrop of recent developments on the climate-science landscape could not possibly be less fortuitous.

Climategate revealed that a small but influential coterie of climate scientists did everything they could to present messy global-warming data as a “nice tidy story,” meticulously crafted to “hide the decline” in tree-ring-based temperatures. (I use quotes because those are the words of the warming-alarmist scientists themselves.)

The fact is that tree rings are pretty poor indicators of annual warmth, especially in recent years. Dendrochronologists call this the “divergence” problem (cynics call it other names). Phil Jones, the central figure in Climategate, actually eliminated the “divergence” rather than “hiding the decline.”

Read the rest of this article at National Review.

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