|
Something Good Happens
Research for Online Investors
by John Dalt
1/22/10
While we were not looking,
something good happened. Yesterday, Senator Lisa Murkowski, R-Alaska,
introduced a resolution to strip the EPA of power to regulate
greenhouse gases. Predictably, this has the world improvers up
in arms.
Murkowski has 37 co-sponsors of
the measure.
She is a few votes short of
gaining passage, but hopefully will gain the required majority
necessary.
Last year the EPA issued a formal
endangerment declaration that greenhouse gases endanger your
health, thus they must regulate carbon
dioxide.
The problem is that carbon
dioxide is what you exhale. Carbon dioxide is what plants need to
grow.
Carbon dioxide occurs naturally,
and has always been present in our
atmosphere.
When carbon dioxide levels
increase, plants and agriculture (food production)
thrive.
Rather than ask you to take one
less breath per hour, the EPA has proposed a “tailoring rule”
to start the regulations on the largest emitters of carbon
dioxide.
They would start by regulating
emitters of 25,000 tons of carbon dioxide
annually.
This is easy pickins’, as it is
easy to single out the big bad utility and industrial
polluters.
American’s won’t voice anger
until they get their electric bills, and it will be too late as
the compliance money will have already been
spent.
Barbara Boxer, D-California, is
spewing a lot of carbon dioxide over the use of the
Congressional Review Act to limit the
EPA.
She calls it a “direct
assault on the health of the American
people.” The San Francisco Chronicle has the
story, “Boxer blasts bid to block EPA greenhouse gas
rules.”
The president has used the EPA as
a hammer over the congress, if they don’t pass “cap and trade”,
his administration will do it by
regulation.
If the congress doesn’t
take away this threat, they will be complicit in allowing
the EPA to place erroneous regulations on the U.S.
economy.

A hockey mom, or a pit
bull?
The disapproval resolution was
filed under the Congressional Review Act
(CRA).
Under the CRA, a resolution goes
to committee, if they do not report it out favorably, thirty
senators can order discharge by
petition.
The resolution is placed on
the Senate Calendar for expedited consideration, and is
not subject to filibuster. In a touch of irony, the CRA was passed
in 1996 and co-sponsored by Harry Reid D-Nevada, the
current majority leader of the Senate. Since this resolution has 38
co-sponsors, we should get to see a vote on it in the
Senate.
This is the best way to
stop “cap and trade” by a government
agency.
To tie up yesterday’s
observations in MarketToday, about the Fed intervening in
the equity markets. What could be more
manipulative?
-
Support and bid the markets
higher to add credence to the economic programs of
the administration.
-
Publicly attack the financial
sector and withdraw support or even sell the market
lower, just before announcing a requirement for
401K’s and IRA owners to invest in “safe” annuities
and treasuries.
We don’t know, but are naturally
suspicious.
“The Obama Administration's
ultimate dream is a land of a just a little milk and
honey. Or, a Goldilocks
economy... nobody makes too much and nobody makes too
little.”---Charles Payne
The information presented in this newsletter is based on
generally available news releases, corporate filings, current
events, interviews and the editor’s opinions. It may contain errors and you
should not make investment decisions based solely on what you
believe you have read here. Do your own research, it is your
money. If you lose
it, it is your responsibility, not ours or your
grandmothers! The
editor may or may not have a position in any securities
discussed. The editor
may have held a position in a security earlier, or in the
future.
MarketToday Home Page
Back to
Top
|