Senate cap & tax bill to be introduced today

The senate version of economy-killing cap & tax legislation will be unveiled today. (story here) This piece of crap bill was ginned up by a tripartisan troika of John Kerry (D-MA), Joe Lieberman (I-CT) and Lindsey Graham (R-SC) with the help of their pals in the energy industry. Graham has since backed away from the bill but his taint is all over it.

As Senators John Kerry (D-MA) and Joseph Lieberman (I-CT) prepare to introduce their long-delayed energy-rationing legislation, the Competitive Enterprise Institute calls on Americans to remember what is really at stake: government control over energy use and massive kickbacks to favored corporations.“The bill crafted by Kerry and Lieberman – and sometimes Lindsey Graham (R-SC) – manages to have something to harm everyone except big business special interests,” said Competitive Enterprise Institute Director of Energy Policy Myron Ebell. “Environmentalists know it will have no discernible impact on the climate, but it will reward favored companies with massive windfall profits.”

Senator Kerry has admitted that the bill was written in close consultation with the companies and industries to be regulated, including the Edison Electric Institute and major oil companies. Kerry recently remarked “Ironically, we’ve been working very closely with some of these oil companies in the last months,” referring to BP, Conoco Phillips, and Shell. This process could only be considered “ironic” by someone unacquainted with the history of special interest lobbying in Washington, D.C.

“Cap and trade regulation, far from disciplining the energy sector, is poised to become one of the greatest wealth transfers from consumers to private corporations in the nation’s history,” said Ebell. “General Electric, Exelon, BP, Goldman Sachs, and Duke Energy will make out like bandits because of provisions they have written. That’s not democracy or capitalism.  It’s political corruption and crony capitalism.”

In other words, more of the same. BOHICA folks…

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