After all the hey the media had over Sarah Palins resignation, and all the pundits writing her obituary, and all their speculation and hopes it would mean she was leaving politics, its time for their wake up call. Now she can really take the gloves off, and she does so.
Unfortunately, many in the national media would rather focus on the personality-driven political gossip of the day than on the gravity of these challenges. So, at risk of disappointing the chattering class, let me make clear what is foremost on my mind and where my focus will be:
I am deeply concerned about President Obamas cap-and-trade energy plan, and I believe it is an enormous threat to our economy. It would undermine our recovery over the short term and would inflict permanent damage.
American prosperity has always been driven by the steady supply of abundant, affordable energy. Particularly in Alaska, we understand the inherent link between energy and prosperity, energy and opportunity, and energy and security. Consequently, many of us in this huge, energy-rich state recognize that the presidents cap-and-trade energy tax would adversely affect every aspect of the U.S. economy.
There is no denying that as the world becomes more industrialized, we need to reform our energy policy and become less dependent on foreign energy sources. But the answer doesnt lie in making energy scarcer and more expensive! Those who understand the issue know we can meet our energy needs and environmental challenges without destroying Americas economy.
Job losses are so certain under this new cap-and-tax plan that it includes a provision accommodating newly unemployed workers from the resulting dried-up energy sector, to the tune of $4.2 billion over eight years. So much for creating jobs.
In addition to immediately increasing unemployment in the energy sector, even more American jobs will be threatened by the rising cost of doing business under the cap-and-tax plan. For example, the cost of farming will certainly increase, driving down farm incomes while driving up grocery prices. The costs of manufacturing, warehousing and transportation will also increase.
The ironic beauty in this plan? Soon, even the most ardent liberal will understand supply-side economics.
Ouch! Thats gotta burn a bit!
Noel Sheppard wonders how the media will respond. Liberal heads in the punditsphere are already exploding!
Absolutely correct. This on the heals of Obama’s economic plans becoming a disaster and his poll numbers shrinking. Americans will literally hit the roof when their electric/heating bills skyrocket, along with everything that is made from energy such as plastics (food, water and milk cartons to name a few).
Donald Douglas is impressed how fast she is coming out of the gate. So am I, and the liberal media and pundits are making the same mistake they make with Bushunderestimating.
Cap-and-trade rations energy production, which means there will be less of it for a long time. Alternatives are not ready for the kind of mass production that would allow a complete replacement of energy, and probably won’t be for decades, if ever in some cases (notably wind power, as GreenChoice showed and as T. Boone Pickens finally realized). That means a lower standard of living that will impact America regressively, with the lowest income earners getting hit the hardest. The drain on the economy from high energy prices means less jobs and higher retail prices for goods and services, again a regressive consequence of energy rationing.
Obama and his Utopian allies promise that government will help close the gap by offering more services to the unemployed and the poor at the expense of the “rich”. What will that do? It will further handicap the economy by keeping capital out of the markets. Even worse, it will vastly expand the dependent class in America who have to go on the dole to survive. And many of those ardent liberals will be pretty happy with that outcome, too.
Susan reminds us of Obamas own words:
You know, when I was asked earlier about the issue of coal, uh, you know — Under my plan of a cap and trade system, electricity rates would necessarily skyrocket. Even regardless of what I say about whether coal is good or bad. Because I’m capping greenhouse gases, coal power plants, you know, natural gas, you name it — whatever the plants were, whatever the industry was, uh, they would have to retrofit their operations. That will cost money. They will pass that money on to consumers.