I have only read the first 100 pages of the Cap-and-Trade Bill, but I am already aghast.
To bad nobody in Congress read it: if you think they did, just ask your CongressCritter what “pyrolization” means (the word appears several times in the first twenty pages).
When you read the Bill, remember that you are charged by the KiloWatt Hour but I have a simple Texas household that used 1.738 MegaWatt Hours in May and June. Maybe it’s the computers, but I suspect it was the air conditioners. And it only reached 101F this week!
I will do my best to analyze and explain further in future posts, but I thought I’d get some stuff out there early:
The Carbon Storage Research Corporation (established in the Bill) will only cost me 75 cents/month. It looks trivial in the bill: just 0.00043 per KiloWatt Hour. Elsewhere, the Bill talks in MegaWatts.
Coal costs anywhere from $20 to $50 per ton these days, but the Bill would value “pump CO2 into the ground” credits at anywhere from $50 to $90 per ton (of gas, not coal).
The only people that currently pump CO2 into the ground are the oil companies: their contribution is specifically prohibited from any credits in the bill
VERY roughly, one ton of coal produces three and a half tons of CO2 when burned. A typical electric plant burns 50 tons of coal an hour, easy.
Somewhere along the line, electricity costs won’t just go up a little, they may triple!
No mention in the first 100 pages of nuclear energy; over 70% of the citizens of Illinois won’t be affected … neither will ANY of the residents of Chicago (Exelon powers Chicago with Nukes).
I hope to do analyses of gasoline (how much CO2 you pump out driving) and coal-fired electricity generation (where do you think the electricity for your Volt comes from?).
Here are some starting talking points for your Senators.