Can You Spare 23 Cents a Day for Climate Change Action?

Much has been made of the potential financial costs of climate change legislation by conservatives, but as it turns out, the American Clean Energy & Security Act will cost the average citizen just 23 cents a day.

Reps. Markey and Waxman asked the Energy Information Agency to analyze the cost to consumers, to put out-of-control estimates by anti-climate-bill pundits and lawmakers to rest. They delivered, with a report (PDF) that projects the annual cost of the ACES to be roughly $83, adjusted for inflation, by 2030.

ACESA increases energy prices, but effects on electricity and natural gas bills of consumers are substantially mitigated through 2025 by the allocation of free allowances to regulated electricity and natural gas distribution companies. Except for the ACESA No International/Limited Case, electricity prices in five of the six main ACESA cases range from 9.5 to 9.6 cents per kilowatthour in 2020, only 3 to 4 percent above the Reference Case level.6 Average impacts on electricity prices in 2030 are projected to be substantially greater, reflecting both higher allowance prices and the phase-out of the free allocation of allowances to distributors between 2025 and 2030. By 2030, electricity prices in the ACESA Basic Case are 12.0 cents per kilowatthour, 19 percent above the Reference Case level, with a wider band of 11.1 cents to 17.8 cents (10 to 77 percent above the Reference Case level) across all six main policy cases.

So the question is, do Americans want to pony up 23 cents a day and take care of this problem before it blows up into an all-out global nightmare, or just wait until the cost of fixing it reaches epic proportions?

Link [Treehugger]
Photo credit: Flickr user Macinate

Next thing you know ol’ Jed’s a Billionaire- Todays Oil Prices Make Clampetts Billionaires

Jed Clampett, the lovable old patriarch of the Clampett family who struck black gold one day while shootin for some food, would be an incredibly rich Hillbilly had that fortunate hunting accident happened today. You could say he’d be happier than a tornado at a trailer park.

Had Jed discovered that bubblin crude these days instead of 1962 he’d be worth a cool billion dollars. Back in ‘62 when Jed stuck oil in Bugtussel, the price per barrel was around $2.85. Kin folk told Jed move away from there, so The Clampetts loaded up the truck and moved to Beverly (Hill’s that is) with $25,000,000 in Mr. Drysdale’s bank.

Which means, if we do the math …that Jed uncovered around 8.7 million barrels of oil. At any price above $115.55/barrel Jed’s north of 10 figures (a Billionaire). A quick stop to Bloomberg Energy shows crude oil futures currently going for ~$118/barrel.

Wee Doggies!, imagine the party Jed, Granny, Jethro, Elly May, and Duke could throw with that kind of cash- the fancy vittles, moonshine and dancing out by the cee-ment pond. Which would make them all happier than cats a fish fry. Yeehaw.