There’s a bill currently in the Senate that I think everyone should be aware of and if possible, should make a lot of noise to defeat. The bill, called Warner-Lieberman, is touted as “landmark legislation”. It is that and more. Should it become law, it will be the most extensive intrusion by government into the economy since the FDR Administration. The very idea makes me furious.

The bill was described in an Op-ed piece in the Wall Street Journal as thus:” Almost all economic activity requires energy, and about 85% of U.S. energy generates carbon dioxide and other greenhouse gases. For centuries, these emissions were considered the natural byproduct of combustion. As recently as the 1990 Clean Air Act amendments, they were consciously not even described as a ‘pollutant.’ But now that the politicians want to decrease those emissions, the government must create a new commodity – the right to create CO2 – and put a price on it. This is an unprecedented tax that would profoundly touch every corner of American life.

The policy preferred by the environmental lobby is called cap and trade. The government would set a limit on emissions that declines every year. The goal of Warner-Lieberman is to return to 2005 levels by 2012, and to reduce that by 30% by 2030.

‘Allowances’ for emissions would be distributed to covered businesses – power, oil, gas, heavy industry, manufacturing, etc. If they produced less than their allotment, the companies could sell the allowances, or trade them. Cap and trade limits on energy are thus sometimes misleadingly described as a ‘free market’ policy that would create the flexibility for CO2 reductions how and where they are least expensive. But the limits are still a huge tax.”  And that tax would be passed on to you and me. This will be added to our current $4.00 gas.

This is a grab not only into our pockets but into the basic elements of life. Carbon Dioxide, should this horrible piece of legislation become law, will become the property of the federal government and only the government will have the right to sell licenses to create it. In theory, the feds could charge each of us a tax every time we exhale.

 The basis for this legislation is the theory that Global Warming exists, that we cause it by living on earth and that it can be cured by giving the government the say so over who creates CO2, while it takes money from industry for the privilege. Frankly, giving congress this much power over the economy, given its record of not being able to manage much of anything, is scary. Recent studies show that global temperature is a function of the sun and the amount of CO2 in the atmosphere is the result of solar heating, not industry in Pittsburg.

The Wall Street Journal goes on in its piece, “… California Democrat Barbara Boxer last week introduced 157 pages of amendments to Warner-Lieberman. Most notably, she sets aside at least $800 billion through 2050 for consumer tax relief. So while imposing a huge new tax on all Americans, she vouchsafes to return some of the money to some people. Needless to say, the Senator will be the judge of who receives her dispensation.

Ms. Boxer's amendment shows that cap and trade is also a massive wealth redistribution scheme – all mediated by her and her fellow Platonic rulers. Oh, and she also includes an "emergency off-ramp," should costs prove too onerous. This is really a political "off-ramp" to make Warner-Lieberman seem less dangerous, but you can imagine her reaction if some future Republican President decided to take it.”

The chances of this bill passing this year are zero. The president will veto it. But it is more than likely the bill, if it gets through Congress, will be enacted next year, no matter who gets elected president. Both Democrats currently fighting for the nomination would be happy to sign any bill that comes along if it means a tax increase. McCain is said to favor this kind of environmental sop and besides, he and Lieberman are big buddies. The only thing that can possibly derail this revenue grab is a strong public outcry akin to the one that prevented the Comprehensive Immigration Bill (Amnesty) from getting through Congress last year.