Pelosi’s Big Bad Energy Idea
Nicolas Loris /
Instead of a bunch of small, bad energy bills, why not have one, large bad energy bill? That seems to be the sentiment coming from Speaker of the House Nancy Pelosi. Cap-and-trade. A National Renewable Portfolio Standard. A New Smart Grid. Throw it all in there.
Pelosi told reporters yesterday on Capitol Hill:
I would like to see one bill, which is the energy bill, with the cap and trade and the grid piece. I think having it as one bill shows the — I don’t want to say the integrity — the oneness of it all, how it all relates to each other.”
In reality, these are all separate issues and should be addressed separately.
Cap-and-trade: A cap-and-trade program to reduce carbon dioxide emissions is nothing more than a regressive tax that will raise energy prices and cost Americans jobs – all for little, if any, environmental gain. A cap-and-trade is a less predictable version of a carbon tax and there is plenty of hope Americans won’t stand for an expensive energy tax, especially in a recessionary environment.
Renewable Portfolio Standard (RPS): A national RPS standard would mandate that a certain percentage of America’s energy come from wind, solar and other renewable energy sources by a certain year. The latest talk has been 25% by 2025. The result of an RPS will be less reliable electricity and higher prices for the taxpayer and the ratepayer. Heritage energy expert Ben Lieberman writes,