Climate Bribery: Dems move to buy-off utilities with free credits

April 24, 2009

The Wall Street Journal reports this morning that,

House Democrats are weighing a plan to give some of the nation’s biggest polluters a 10-year cushion from the impact of greenhouse-gas regulations to get a cap-and-trade system in place now.

Under the proposal, electric utilities would get free permits to emit carbon dioxide and other greenhouse gases for as long as ten years, after which they would gradually begin paying. In exchange, utilities would be required to shield consumers and businesses from higher electricity rates during that time. They would also make investments in conservation and renewable energy to lessen the industry’s reliance on coal.

“We’re going to have some of the money allocated to ratepayers,” said House Energy and Commerce Committee Chairman Henry Waxman (D., Calif.) “How much and what percentage, I don’t know.”

Keep in mind that the federal government’s printing presses are churning out more dollars than ever before — so there’s plenty of money to buy-off everyone. Why didn’t anyone think of Zimbabwe-ing our way to green paradise before?

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