Wall Street Journal — House Panel Clears Plan to Cut Greenhouse Gases
Rep. Henry Waxman was able to get his bill for global warming fees to the full House by the Memorial Day recess as promised. The remaining questions, though, are whether it actually amounts to a climate change bill or corporate welfare and if the measure can advance through the House, let alone the Senate.
President Obama has gone off on his own hook on global warming and is using the EPA and the Department of Transportation to enforce a carbon crackdown. That may encourage some environmentally minded members of Congress to vote against the Waxman plan that would dole out hundreds of billions of dollars to connected companies in order to get support from carbon state Democrats. Republicans won’t support the plan that, though generous but iniquitous in its favors, would still amount to the largest tax increase in American history.
Writers Ian Talley and Stephen Power also include in their piece the fact that China came up with its new concept for a global carbon plan that would dwarf the U.S. initiative. When Obama goes to Copenhagen this fall to negotiate the successor to the Kyoto treaty, the Chinese will be ready with a brutal opening bargaining position that demands huge reductions from the U.S.
