Greater Cheyenne Chamber of Commerce Business Journal and Other Publications Q1 2016 Business Journal - Page 20

Congress Can Cool Off Obama’s Climate Plans President Obama wants a climate deal and is willing to pay dearly to get it. The ostensible goal of the Paris talks (Nov. 30-Dec. 11) is to convince countries to commit to enacting laws that reduce carbon emissions. That fits President Obama’s vision of a world without fossil fuels such as coal, oil and natural gas. The American people oppose these policies, but the president has shown himself deU.S. DEPARTMENT OF THE INTERIORBUREAU OF LAND MANAGEMENT termined to circumvent Congress. SENATOR JOHN BARRASSO, M.D. When the U.N. climate-change talks convene in Paris, the risks will be high for American taxpayers. President Obama wants a climate deal and is willing to pay dearly to get it. The inevitable outcome is BOONDOGGLE A Green Scheme for our Nation is a potential “boondoggle.” It is a cap-and-trade scheme which is a lobbyist’s dream. For those of you unacquainted with how these boondoggles work, it goes something like this: (1) regulators assign an emissions quota to tens of thousands of individual industrial suppliers and users of energy (because emissions are synonymous with conventional energy use, an emissions “cap” is the same as energy rationing); (2) these businesses then purchase the right to emit their allotment in the form of permits disbursed by a government-run auction; (3) these businesses are allowed to trade permits among themselves (ie, a company that exceeds its emissions quota can buy permits from a company that emitted less than its quota); and (4) the government spends revenue raised in the auction of emissions permits-as much as $300 billion a year, according to the Congressional Budget Office-on green technologies and mitigation of the cap-and-trade’s adverse economic impact. 20 | Quarter 1 M 2016 a plan with unproven benefits and unreachable goals, but very real costs. It will be up to Congress to check the president’s ambition of committing the U.S. to an international green scheme that will produce little or no return. The ostensible goal of the Paris talks (Nov. 30-Dec. 11) is to convince countries to commit to enacting laws that reduce carbon emissions. That fits President Obama’s vision of a world without fossil fuels such as coal, oil and natural gas. The American people oppose these policies, but the president has shown himself determined to circumvent Congress. The Obama administration has already imposed burdensome regulations—for instance, the sprawling Clean Power Plan aimed at wi [