It’s been a month since the billionaire triumvirate of Tom Steyer (pictured), Henry Paulson and Michael Bloomberg introduced their ballyhooed Risky Business report on the climate, and after all the op-eds, blog posts and public interviews so far, all that can be said about it is that it is already an empty, meaningless PR campaign upon which the financial hot shots have wasted their money.
There is no there, there.
Logical scrutiny of the project, from its genesis to its outcome, would reveal how deeply flawed and biased it is. Given every contributing factor, there is no other verdict that would have been reached other than “we must all do something about global warming!” Yet the legacy media has treated Risky Business as something that was objectively conceived, and which has delivered perfectly reasonable conclusions. That is to be expected from pack journalists who don’t look beyond the climate crystal balls (also known as “models”) spoon-fed to them by big government scientists, but that doesn’t mean (and hasn’t in the past) that the public will swallow it.
As Duke wants to recover $1.5 million in costs related to the plant, the state office that advocates for its customers – the Office of the Utility Consumer Counselor – wants IURC to more closely scrutinize why Edwardsport’s operation has been such a miserable failure. The much-delayed and fought-over plant had a $1.4 billion cost overrun and as a result is adding an average 16 percent increase to Hoosier State customers’ electric bills.
NLPC has detailed extensively the wastefulness and folly of spending billions of taxpayer and consumer dollars to subsidize wind energy, solar energy and electric vehicles, all in the name of fighting climate change.
But the complicated, uneconomical boondoggle that Duke Energy built in Edwardsport, Ind. so as to burn coal gas rather than coal – and thus produce less carbon dioxide than a traditional coal plant – may be the dumbest idea to fight imaginary global warming to date. If you swallow the alarmists’ premise and “solutions,” the plant so far is a joke, as recent evidence shows it is using more energy than it produces.
Ten days ago the Environmental Protection Agency issued its proposed rule for the implementation of regulations of carbon dioxide on utilities’ coal-fired power plants. Last week revealed news that there is no reason for costly government-imposed limits on such emissions, as the global warming they were supposed to cause has been absent for 15 years.
That didn’t stop the UN Intergovernmental Panel on Climate Change from issuing yet another alarm on Friday, ahead of its official report yesterday, that said increased carbon dioxide caused by people is negatively affecting the earth’s climate.
It’s one thing to hamstring the U.S. economy – one of the strongest and resilient in the world – with the ridiculous, self-inflicted insistence that we not use all the energy resources at our disposal, all to save us from the phantom crisis of global warming. While temperatures haven’t risen for 15 years and there’s actually been cooling since 2002, the president and his alarmist minions have designed failed scheme after failed scheme in the name of solving a problem that doesn’t exist.
President Obama’s speech last week that re-emphasized his commitment to reduce US carbon dioxide emissions brought dismay to those who appreciate affordable energy, but it sparked a celebration among corporate types who have long sought caps and taxes on CO2.
While it was still more words from the president, which don’t always match his actions, on CO2 limitation he has largely kept his promise to environmentalists. Critics slammed his plan to bypass Congress and to task the Environmental Protection Agency to curb emissions via executive order, but EPA has operated out of bounds since he was inaugurated in 2009 – especially with the “war against coal” that is now universally accepted as true.
Apple’s hiring of former EPA Administrator Lisa Jackson last week gives her a soft landing place, after she fled her cabinet role spurred by a flurry of evasions and deceits over alias email accounts she and her underlings used to hide correspondence from the public. Her would-be successor, Gina McCarthy, seeks to be confirmed under the same cloud.
It’s unclear why Apple would want or need Jackson, as its (faux) environmentalist credibility is already well established, and the Mac maker already boasts the top figurehead of eco-figureheads on its board of directors, Al Gore.
Only a month ago BP – which not long ago promoted itself as “Beyond Petroleum” – released an “energy outlook” video that projected 99 percent of America’s energy will be supplied domestically by 2030, in part because it says the U.S. will grow production from renewable sources 202 percent by that time.
Just don’t expect BP to participate in the alleged alternative energy “boom.” The London-based petroleum producer announced last week it would dump its investments in U.S. wind energy projects, which were said to be worth $3.1 billion. It’s hard to believe they’re really worth that much, however, especially without government subsidies – not to mention the fact that BP is so easily discarding “assets” that are supposed to hold great value. The move follows a December 2011 announcement that the company would exit the solar business.
The crisis that has enveloped Boeing over the grounded Dreamliner, at a cost of billions of dollars in losses in addition to what has already been “invested” in it-- voluntarily by its owner/investors and coercively from taxpayers – exemplifies perhaps more than any other redistributionist corporatism scheme why government intervention is more headache than help.