Democrats ready to cash in on green biz
Robert Novak reports that the Democrats (and bill co-author John McCain) in Congress are ready to push through Kyoto-like clean air penalty legislation, despite the objections of Detroit Congressman John Dingell who will become the chair of the Energy and Commerce Committee. The article states,
"According to industry sources, Dingell has privately advised auto industry lobbyists to prepare for the worst. House Speaker-designate Nancy Pelosi is making carbon emission legislation a priority, and Dingell has warned Detroit that she expects him to move a bill through his committee."
"Ultimate salvation from U.S. self-destructive behavior may come from the real world. Most European Union countries, suffering higher energy costs imposed by the Kyoto pact, cannot meet that treaty's emission level requirements. Furthermore, China is on pace to exceed U.S. emissions by 2010, meaning that unilateral U.S. carbon controls will have little impact on global emissions while driving American jobs to China. This downside of Pelosi's green determination ought to resonate in union halls and coalfields. However, American industrialists, while wringing their hands, are not making their case."
"On the other hand, the sleazy Terry McCauliff, chairman of the DNC made eighteen million from a hundred thousand dollar deal with the now bankrupt Global Crossing."
On December 20, 2006, Former Clinton Sec. of Agriculture Mike Espy, who resigned that post in a mid-1990s scandal involving allegedly illegal gifts from Arkansas' Tyson Foods , has been named to the board of Alternative Energy Sources, a startup ethanol producer.
According to Yahoo Finance, Alternative Energy Resources has no profits, no revenue, cash of $8.75 million, and a share price of $1.10 as of Dec. 26, 2006. The company, founded in 2006, hopes to build ethanol plants, according to its Yahoo Finance Profile. It wants to compete with agriculture giant Archer Daniels Midland and other big players. As Zell Miller said at the 2004 Republican Convention, "With what? Spitballs?"
To quote Novak's article again,
"Green extremists would prefer the severe legislation proposed by Sen. Barbara Boxer, the new chairwoman of the Environment and Public Works Committee."