House Releases Draft Climate Change Bill and A Bit of Nuclear Nistory (Podcast Episode 65)

Listen to the Podcast Here Operation Sea Orbit – 1964 (Front to Back: USS Enterprise, USS Long Beach, & USS Bainbridge) The Markey / Waxman Climate Change Bill Momentum is building towards greenhouse gas regulation in the United States. Two weeks ago the house of representatives released draft climate change legislation sponsored by Rep. Henry Waxman and Rep. Edward Markey. On Friday the US Environmental Protection Agency turned up the heat when they declared CO2 and other greenhouse gasses “hazards to public health” and labeled CO2 a pollutant. This action gives the EPA authority to regulate CO2 emissions even if congress does not pass legislation focused on curbing greenhouse gas releases. The Waxman/Markey draft legislation would evoke a national renewable energy portfolio standard that will force electric utilities to get a large percentage of the energy they sell from renewable sources. The legislation defines renewable energy as solar, wind, hydro, geothermal, biomass, landfill gas, and wave energy. The required percentages would phase in starting at 6% in 2012, increasing to to 25% by 2039. Calendar year Required annual percentage 2012 ……………………………………………………………………. 6.0 2013 ……………………………………………………………………. 6.0 2014 ……………………………………………………………………. 8.5 2015 ……………………………………………………………………. 8.5 2016 ……………………………………………………………………. 11.0 2017 ……………………………………………………………………. 11.0 2018 ……………………………………………………………………. 14.0 2019 ……………………………………………………………………. 14.0 2020 ……………………………………………………………………. 17.5 2021 ……………………………………………………………………. 17.5 2022 ……………………………………………………………………. 21.0 2023 ……………………………………………………………………. 21.0 2024 ……………………………………………………………………. 23.0 2025 through 2039 ………………………………………………………… 25.0 Utilities who are unable to meet the mandated standards would be fined $50 per megawatt hour of every megawatt they sell that exceed the renewable limits. That penalty could very quickly bankrupt companies that fail to comply. For example, a single 1000 megawatt coal fired power plant would be fined $1.2 million per day. This is a nearly impossible mandate to meet. If this provision becomes law several things will happen: There is already a huge amount of capitol flowing into wind and solar energy because of the lucrative subsidies that pay much of the installation costs, plus tax credits that some states and the federal government have put into place to encourage investment into these politically favored but uneconomic energy sources.  Taxpayers are already footing a lion’s share of the expense of installing most wind and solar power plants. A national renewable portfolio standard will cause even more demand for these intermittent power sources. Unfortunately there is no way the supply can keep up with demand.  Utilities in areas of the country with plentiful hydo power will initially be able to meet the standards, but most of the USA has little hydro power.  According to the Energy Information Administration, in 2007 the combined total for wind, solar, wood and other biomass, and geothermal accounted for...

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Rep.s Edward Markey & Henry Waxman Release Draft Climate Change Legislation

It has not received any attention in the media, but on March 31, 2009 House Energy and Commerce Committee Chairman Rep. Henry Waxman and Rep. Edward Markey, Chairman of the House Committee on Energy and Environment released their plan to fight global warming.   As I predicted back in Episode 62 of This Week in Nuclear ,  they are promoting a federal mandate on wind and solar power funded by huge increases in energy costs. Although nuclear energy produces 70% of the CO2-emission free energy in the USA today, in the entire 648 page bill the word “nuclear” is mentioned only twice (once is to provide an editorial change to a prior bill). Full Text of the Draft Legislation House Press Release Key parts of their plan: Create a national renewable portfolio standard to force utilities to generate (or purchase) at least 25% of the electricity they sell from “renewable sources” and pass the cost to rate payers (see page 15 of the bill) Establish a green house gas trading system (see page 358) And yes, federal government regulation over personal hot tubs (see page 223) The Markey/Waxman bill would force California-style energy rules on the entire USA.  We all know how that turned out!  The Senate will have their hands full in creating a more balanced, logical approach to fight climate change that is based on sound science and good...

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