Monday, 5 October 2009

So called scientists and so called capitalists...

...are groups that are by no means immune to the lure of the big dollar. "Greed is good" said Gordon Gecko in the movie Wall Street, and of course he was right, although he should have said capitalism, rather than greed. And capitalism when left unfettered to compete, and untainted by government subsidy, delivers prosperity to billions of people. When big government dangles big bucks it distorts capitalism (and of course science) and produces lies, thievery and pious platitudes ...another example of double-speak on climate change, focusing on some utility companies that are preening about their environmental conciousness, while preparing to take climate change legislation to the bank. As Kimberley A. Strassel writes in the Wall St. Journal:
"The carbon-based free lunch is over," declared Exelon CEO John Rowe, neglecting to mention that his company's free lunch is only beginning. Under the House's climate-change bill, a few utilities-primarily those that have made big bets in renewable and nuclear energy-are poised to clean up once Congress hands them carbon emission credits. The bill sets aside 35% of the free credits for utilities. Exelon and other "renewable" utilities will get a huge piece of that pie.
An internal memo produced by Bernstein Research in June described how Mr. Rowe met with investors to rejoice that the House legislation will allow Exelon to rake in additional revenue-by some estimates, up to $1.5 billion a year. Others will pay for this Exelon privilege, of course-notably, Midwestern customers of traditional coal utilities who will see their energy prices double. But hey, all's fair in love and lobbying.
It's disgusting, but certainly not surprising. Liberals who purported to hate "corporate greed" should recognize that big government and big business are often co-conspirators in gaming the system. Limiting government so that politicians can't dole out rewards to business (and, yes, to unions, donors, and other interest groups) is the best way to ensure a truly level playing field and protect the American people from this kind of thievery...H/T to Independent Womens Forum ...more here...

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