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OpenMarket: February 2007

  • Where are the small businesses?

    February 13, 2007
    In answer to a point by Senator Warner, Fred just pointed out that there are no representatives of small business here today. Senator Warner agreed this was a good point and asked Chairman Boxer perhaps to hold a hearing on the effects of these policies on such businesses, who are less able to absorb the regulatory costs.
  • If it walks like a duck...

    February 13, 2007
    Bill Lash admitted in answer to a question from Sentor Klobuchar that an upstream cap and trade system is just like a cap. He did not admit, as Resources for the Future found, that cap and trade is much less efficient than a tax.
  • Senator Klobuchar on getting the "truth" out of scientists

    February 13, 2007
    Senator Klobuchar has just suggested that we might not be getting "the truth" out of Government scientists. If she is so concerned about politicization of those scientists, perhaps she should consider privatization of federal science, or, perhaps, a system of prizes that would "decouple" (to coin a phrase) science from political patronage.
  • PG&E CEO on His "Motivations"

    February 13, 2007
    Senator Carper asked the PG&E spokesman what his motivation was. He replied that because PG&E's business model "decouples" its revenues from its sales, cap and trade will not affect them. Yet this decoupling depends on regulators fixing revenues. In no way is this a market system. PG&E is already hobbled, why shouldn't its competitors be?
  • CEI's President Warns Against Carbon Cartel

    February 13, 2007
    Fred is speaking now, underlining that CEI is pro-market, not pro-business necessarily. He is warning against the carbon cartel, the creation of a rationing sytem masquerading as a market and the illusion of regulatory certainty.
  • Energy Analyst Points Out True Cost of CAP's Plans

    February 13, 2007
    Kevin Hook, an energy analyst speaking in a personal capacity, points out that some of the CAP's suggestions could raise national gasoline bill by over a billion dollars. He also argues that many of the benefits claimed by the CAP were as a result of economic contraction after 9/11.
  • Honesty from BP America?

    February 13, 2007
    Steve Elger from BP America is now speaking. I wonder if he'll mention BP's safety record while it has been saving the planet?
  • World Resources Institute Lowers GHG Target

    February 13, 2007
    At the EPW hearing on the Climate Action Partnership, Jonathan Lash of the World Resources Institute talks about how his group's target is 450 - 550 ppm atmospheric concentrations of greenhouse gases. He has not mentioned that the economic consensus that a target of 550 - 650 ppm will cost 1-5% of global GDP. Lower targets will cost much more.
  • DuPont CEO Claims Reduction in GHG

    February 13, 2007
    DuPont's CEO, Chad Holliday, is claiming a 72% reduction in greenhouse gases and a healthy return from them to his shareholders. Strangely enough, this was acheived despite the lack of regulatory certainty he now clamors for.
  • PG&E CEO's Testimony at EPW Hearing

    February 13, 2007
    The CEO for energy company PG&E, a company that does not use any significant amounts of coal, is setting out an admirable program of efficiency improvements and research initiatives. Unfortunately, he wants others to pay for it in the name of "certainty." Those others are his customers via the carbon market and the taxpayers.

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