I’m guessing that CBO Director Douglas Elmendorf is off the few Democratic Christmas lists he was still on at this point. He’s been telling the truth – despite rather obvious strong-arm attempts by the White House. It hasn’t made him a lot of Democrat friends on Capitol Hill. His latest bit of truth is that the Crap and Tax bills being considered will cost jobs.
CBO Director Douglas Elmendorf warned a Senate energy panel that there would be “significant shifts” from emissions-intense sectors such as oil and refining firms to low-carbon businesses such as wind and solar power.
“The net effect of that we think would likely be some decline in employment during the transition because labor markets don’t move that fluidly,” Mr. Elmendorf said, testifying before the Senate Energy and Natural Resources Committee.
“The fact that jobs turn up somewhere else for some people does not mean there aren’t substantial costs borne by people, communities, firms and affected industries,” he said.
Sen. Sam Brownback (R., Kan.) expressed the fears of many lawmakers, both Democrat and Republican. “You’re talking about a massive market manipulation here on a grand scale that has significant impacts on the Midwest and the South … [including] the likelihood of us to lose a lot of jobs, a lot of businesses,” he said.
The CBO director added that although the risks of climate-related impacts on the economy were very difficult to quantify, “many economists believe that the right response to that kind of uncertainty is to take out some insurance, if you will, against some of the worst outcomes.”
The middle class, businesses and industry are going to take massive hits from these bills. Jobs will go away – and will not return. Meanwhile, China is stockpiling uranium. They are buying up huge amounts – some eight million pounds – on the spot markets.
This report is a few years old, but it announces that China is building at least four new Westinghouse AP1000 reactors (warning, pdf file). I read a proprietary news story today that I can’t link to that said that China has already begun pouring concrete for the reactors and that they are certified to build the modules that make up the AP1000 design.
China understands that high-density, cheap power generation is the way to go. It is only in America and the suicidal West that they see low-density, ugly, space-intensive, unreliable and brutally expensive power as the future.
Lord help us. We are in more trouble than people understand right now. Our future, our nation and our way of life are being sacrificed on an alter to false gods.