Answer to nation’s energy issue?
U.S. House Bill 7173 Energy Innovation and Carbon Dividend Act is wildly supported in Record-Eagle forums and letters to the editor lately. So, I read the bill that “painlessly saves the planet.”
I found (Section 9902) that beginning in 2019, a “fee” will generate $60 billion in revenue and in year five (2024), $220 billion fees. Who pays the “fee”? Section 9901 lists crude oil, coal and natural gas producers AND producers of carbon intensive products — iron, steel, steel mill products, aluminum, cement, glass fiberglass, pulp, paper, chemicals and ceramics.
The “dividend” is paid to EVERY ADULT American (and kids). According to one forum report, it awards $240/adult American in year one.
Producers and large users of carbon-based energy appear to have three choices: 1. raise prices, 2. absorb the fee or 3. stop production or use of fossil energy.
Questions to ponder:
1. How fast will increasing energy-related prices exceed the value of the dividend?
2. What technology will, in 10 years, replace current energy sources, now at about 80 percent fossil fuel?
3. To what degree will the U.S. economy — which has become energy independent — become less or non-competitive?
All I’m suggesting is that you read the HR 7173 or at least explore the ramifications.