Carbon Pipelines | Another Kamala [Deadly] Legacy

FIRST ORDER OF BIZNESS BEFORE MINI-DOCUMENTARY:

  • The Inflation Reduction Act (IRA), which dedicated $370 billion to investments in clean energy projects, was the biggest climate legislation in American history when it was signed into law just two years ago. — Foreign Policy Magazine
  • It was, according to Biden, “the most significant climate change law ever. “We should have named it what it was” — Joe Biden
  • Two years ago, President Biden signed the Inflation Reduction Act, with Vice President Harris casting the tie-breaking vote in Congress. — White House

Here is more from the Western Journal:

It was, according to Biden, “the most significant climate change law ever.”

“We should have named it what it was,” he said.

The problem Democrats faced then, and face now, is that if they name things for what they are, they won’t be able to convince the American public to go along.

During the Trump administration, Democrats tried to sell a “Green New Deal” that didn’t get anywhere — for good reason. The idea of energy created from wind and solar power might sound great on the surface, in a dewy-eyed, dreamy kind of way. But when it comes to spending massive amounts of money for negligible returns, sane, adult people tend to balk.

But when inflation is ravaging household income, coming up with a bill called the “Inflation Reduction Act” makes it much more appealing.

Biden has made a similar admission before. In 2023, during a speech in Park City, Utah, he acknowledged outright that the bill “has less to do with reducing inflation than providing alternatives where we generate economic growth.”

So, an “Inflation Reduction Act” it wasn’t.

“I wish I hadn’t called it that,” he said.

But Thursday’s admission — “we should have named it what it was” — was far more explicit.

And that should be a problem for the Kamala Harris president campaign. It was Harris, remember, who cast the tie-breaking vote in the Senate that passed the monstrosity of a bill in August 2022 and sent it to the then-Democratic controlled House for final approval before Biden got it.

If Biden is admitting its title was a lie, what does that say about Harris? ….

(READ IT ALL)

Tie breaking vote of a bill purposefully mislabeled to lie to the American public so it could pass!

Effe Democrats!

Kamala’s carbon pipeline climate scam impacts human health, destroys the environment, and costs taxpayers billions of dollars. Let’s get President Trump back in the White House and me to Washington so we can stop this massive boondoggle.

Damn!

More on the Pipelines created by the “Inflation Reduction Act,” so called (I emphasize a couple things as well – as well as adding a [snippet or two]):

WASHINGTON, D.C. — The Biden-Harris Administration, through the U.S. Department of Energy (DOE), today issued Notices of Intent to fund two programs that will advance carbon capture demonstration projects and expand regional pipeline networks to transport carbon dioxide (CO2) for permanent geologic storage or for conversion into valued end uses, such as construction materials. The two programs – the Carbon Capture Demonstration Projects Program and the Carbon Dioxide Transport/Front-End Engineering Design (FEED) Program – are funded by a more than $2.6 billion investment from President Biden’s Bipartisan Infrastructure Law. Together, the programs build on the Administration’s  recent actions to catalyze investments in clean energy and industrial innovation and advance President Biden’s goal of a net-zero greenhouse gas emissions economy by 2050—creating good paying jobs and economic opportunity. The investments also support the Justice40 Initiative, and DOE continues to prioritize engaging with environmental justice communities to ensure that equity is at the center of reaching our climate goals. [JUMP]

“To meet President Biden’s climate goals, we have to rapidly decarbonize our power generation and heavy industries – such as steel production – that are essential to the clean energy transition,” said U.S. Secretary of Energy Jennifer M. Granholm. “The Bipartisan Infrastructure Law enables DOE to invest in carbon capture, conversion and storage technologies that play essential roles in the development and deployment of clean energy.” 

Greenhouse gas emissions, of which CO2 is the primary component, have risen dramatically over the past several decades. Greenhouse gases fuel climate change, increasing the risk of droughts and floods, and putting our agriculture, health, and water supply at risk. These programs will enable the capture, transport, and permanent storage of greenhouse gas emissions to help mitigate the impacts of climate change on communities. They will also benefit communities across the nation by creating good-paying jobs and improving air quality. 

[….]

Carbon Dioxide Transport/Front-End Engineering Design Program Notice of Intent  

The $100 million Carbon Dioxide Transport/Front-End Engineering Design Program will design regional carbon dioxide pipeline systems to safely transport CO2 from key sources to centralized locations. Projects will expand DOE’s knowledge of carbon transport costs, transport network configurations, and technical and commercial considerations to support the country’s broader efforts to develop and deploy carbon capture and carbon dioxide removal technologies, carbon conversion, and storage at fully-commercial scale.  

DOE is also working closely with the U.S. Department of Transportation’s Pipeline and Hazardous Materials Safety Administration to incorporate their safety guidance into DOE’s research, development, demonstration, and deployment portfolio for CO2 pipelines. To read DOE’s statement of support for the new CO2 pipeline safety measures recently announced by the U.S. Department of Transportation, click here. 

More information on the Carbon Dioxide Transport/Front-End Engineering Design Program Notice of Intent can be found here.

(ENERGY.GOV)

Since FEMA has been in the news for handing out monies meant for Americans in case of natural disasters to housing and feeding illegal immigrants, here is another boondoggle of American transfer of tax money to DEI type projects by FEMA:

[FEMA Press] Release Date: July 15, 2022

WASHINGTON — Today, FEMA released an initial list of programs covered under the Biden-Harris Administration’s Justice40  Initiative, which aims to deliver 40% of the overall benefits of climate, clean energy, affordable and sustainable housing, clean water and other investments to disadvantaged communities that are marginalized, overburdened and underserved. There are four covered programs within FEMA, each of which advance the Biden-Harris Administration’s commitment to environmental justice.

President Biden is committed to securing environmental justice and spurring economic opportunity for disadvantaged communities that are marginalized and overburdened by pollution and underinvestment in housing, transportation, water and wastewater infrastructure, and health care.

Under Administrator Deanne Criswell’s leadership, FEMA has been integral to fulfilling the Biden-Harris Administration’s whole-of-government approach to advancing environmental justice and delivering on the President’s Executive Order on Tackling the Climate Crisis at Home and Abroad, including the critical Justice40 Initiative.

“The Justice40 Initiative strengthens FEMA’s commitment to ensure quick and equitable distribution of funds and benefits to the communities who need it most,” said Administrator Criswell. “We know that socially vulnerable communities bear the brunt of climate change and are more likely to be impacted by the associated extreme weather events. Thanks to President Biden and the Justice40 Initiative, FEMA will be able to better serve these communities by making them more resilient when disaster strikes.” ….

The CITY JOURNAL responds. Hat-tip to HOT AIR!

… At the start of his term, Biden issued Executive Order 14008, which set aggressive targets for clean energy but also included the demand that 40 percent of the “overall benefits” of environmental programs should flow to disadvantaged communities. The White House says this “Justice40 Initiative” must be a major focus of every government agency. The underlying concept holds that poor and minority communities are exposed to higher levels of pollution and are entitled not just to lower emissions but to various economic benefits to make up for historic underinvestment in those communities. In effect, the Justice40 project redefines the purpose of environmental programs to include not just less pollution but also various social goals such as “empowering communities” and reducing poverty.

What are the key problems with that effort?

Biden’s EJ agenda is a confusing jumble of requirements that burden government agencies with new layers of bureaucracy and contradictory demands. Some of the key requirements of the program, including the meaning of the word “benefit,” are left undefined. At a time when the White House says we are in a “climate emergency,” the EJ requirements will make it harder to get clean energy infrastructure projects approved. It will also raise the costs of those projects by adding demands such as favoring more expensive union labor. In practice, this means it will cost more and take longer to reach the administration’s ambitious climate targets. The EJ rules will also make it easier for activist groups to tie up private industry in litigation, which will undermine economic opportunity in poor communities.

Could you describe the distinction between the “practical” and “extreme” wings of today’s EJ movement?

The EJ movement contains a mix of ideologies and policy goals. On the practical side, advocates seek basic fairness in the application of environmental laws and reasonable goals, such as replacing lead pipes or reducing airborne pollution in cities. On the extreme side, activists see environmental justice as part of a larger progressive movement that pursues radical social change. For example, the influential Climate Justice Alliance describes its mission as working for “regenerative economic solutions and ecological justice—under a framework that challenges capitalism and both white supremacy and hetero-patriarchy.” The White House invited leaders of the Climate Justice Alliance and similar groups to advise it on how to shape its EJ policies.

Do you see parallels between the administration’s EJ agenda, which tries to expand social-welfare programs under the rubric of environmental concerns, and efforts by medical organizations and federal agencies to promote concepts like the “social determinants of health?”

The progressive movement is good at taking goals most Americans agree with—less pollution, or better health outcomes for minorities—and then using them as a kind of smokescreen under which to enact a more radical agenda. In both cases, activists want to take programs aimed at specific, concrete problems and then redirect those programs toward an amorphous set of social goals. For example, the White House’s EJ advisors demand that federal programs prioritize installing solar panels on the roofs of public-housing buildings. That wouldn’t help reduce CO2 emissions; these panels will be less efficient than rural solar farms. But it would mean more inner-city jobs and empowerment for activist groups. These activists imagine a future of “decentralized grid ownership,” in which poor communities control power generation communally. So, while most voters see Biden’s climate policies as being aimed at reducing emissions, EJ extremists see them as a vehicle for building the kind of post-capitalist future they desire. So far, the White House hasn’t followed every extreme EJ policy recommendation, but the activists are planting seeds. They might not fulfill their whole vision, but they can certainly tie up green programs with costs, delays, and contradictory goals.

Biden/Harris & Harris/Walz Monetary Policy Cause Inflation and Shortages

First, the greedflation story ignores business competition. How could so many firms suddenly command higher profit margins? Corporate concentration didn’t dramatically increase during the pandemic. Firms didn’t magically gain more market power or suddenly become greedier. To believe in greedflation, we’d therefore have to think that businesses across many sectors colluded by using their pricing power to raise prices by limiting their output. But in most industries the urge to undercut rivals and grab market share would undermine this coordination. Moreover, real output actually grew strongly in 2021 and 2022, while inflation surged, thus contradicting the idea that collusive efforts to withhold output was what drove rising prices.

Second, the greedflation tale overlooks consumers. How could customers suddenly afford higher prices across many industries? If businesses in some sectors with price-insensitive customers jacked up prices to puff their profits, those consumers would have less money to spend elsewhere, reducing demand and prices for other goods. This would leave overall inflation largely unchanged. To get a situation in which all prices are rising—a macroeconomic inflation—therefore requires more overall spending, perhaps indicating that there was more money available to spend to begin with.

This points us to the real story: Far from profits driving inflation, inflation and temporarily higher profits were both being driven by a third factor: excessive macroeconomic stimulus.

(CATO | See also CITY JOURNAL)

Supply chains were broken by GOVERNMENT REGULATION AND RULES during covid. It just “didn’t happen” by accident or natural causes. Supply chains were cut by enforcement. As above… long haul video!

  • NEWSBUSTERS: “Brooks Surprised ‘Responsible’ Harris Would Endorse Soviet-Like Price Controls”

JOHN STOSSEL on Greed and Inflation

Inflation is sharply up. Now it’s 7%. What went wrong?

STEVE FORBES for PRAGER U ~ Inflation

Look for the source of a society’s collapse, and you’ll usually find the i-word (inflation) at its core. So what exactly is inflation? How does it work? Why is it so dangerous? And how does it affect your everyday life? Steve Forbes breaks it down.


“GREEDFLATION”


The entire article from REASON is this:

The Misuse of Data Behind the ‘Greedflation’ Narrative
There’s no evidence that greed is causing inflation.

The chairman of the WAYS & MEANS Committee has a wonderful [7-2022] fact check page refuting the Democrats “Greedflation” position. I have been warning of this inflationary cliff for many years in my posts on Quantitative Easing.

Likewise, this is a decent article on the topic of disproving a large portion of the “Greedflation” charge:

As the US economy continues to grapple with persistently high inflation, President Biden has repeatedly blamed “corporate greed” as the primary culprit.

The administration has accused companies of engaging in “greedflation” and “shrinkflation” – raising prices and reducing product sizes to maximize profits at the expense of consumers.

However, a recent report from the Federal Reserve Bank of San Francisco challenges this narrative, providing a more nuanced and evidence-based understanding of the factors driving the current inflationary pressures.

The Federal Reserve Bank of San Francisco’s research shows that while there has been an increase in markups (the difference between a product’s selling price and its production cost) in select industries like motor vehicles, the overall markup rate has remained largely in line with previous economic recoveries. Contrary to Biden’s claims, the data suggests that fluctuations in corporate markups have not been a driving force behind the ups and downs of inflation during the post-pandemic recovery.

The report attributes the current inflationary pressures to other factors, such as the massive government stimulus spending and the Federal Reserve’s low-interest-rate policies during the COVID-19 pandemic. These measures boosted consumer demand at a time when the economy was experiencing supply chain disruptions and shortages, leading to a sharp rise in prices across various sectors.

While corporate profits did spike during the economic recovery, the Fed’s analysis indicates that this is not unusual compared to previous recoveries, such as the Great Recession. The increase in profits is largely attributable to pandemic-era subsidies and lower business taxes, rather than a deliberate effort to exploit consumers through “greedflation.” ….

(More at TAMPA FREE PRESS)

The CAROLINA JOURNAL has a wonderful article as well.

Price inflation is never caused by greed. It’s always caused by a growing money supply. The money supply has grown big-time since 2020, and now we pay a lot more for food and housing. [RPT: actually, the money supply has been growing since Obama]

A new report claims resounding evidence” shows that high corporate profits are a main driver of ongoing inflation, and companies continue to keep prices high even as their inflationary costs drop.

The report, compiled by the progressive Groundwork Collaborative think tank, found corporate profits accounted for about 53% of inflation during last year’s second and third quarters. Profits drove just 11% of price growth in the 40 years prior to the pandemic, according to the report.

Is this true? Unraveling this mysterious relationship between corporate profit and inflation is easy once we clearly define what profit and inflation are. This allegation that corporate profits accounted for 53 percent of inflation is a result of using wrong definitions and reasoning by mainstream economics researchers.

First, let us see what inflation is. As Henry Hazlitt explained in his article “Inflation in One Page,” inflation is “an increase in the quantity of money and credit. Its chief consequence is soaring prices. Therefore inflation—if we misuse the term to mean the rising prices themselves—is caused solely by printing more money. For this the government’s monetary policies are entirely responsible.”

Faulty reasoning by mainstream economists occurs because of their faulty way of mistaking the price rise effect of inflation as inflation itself. They are putting the cart before the horse. Rising prices is only one of the chief effects of inflation, not inflation itself.

Another mistake that mainstream economists make is that they use the long disproved Marxist “production cost/labor theory of value” to explain the rise in the prices of consumer goods, as is the case with this research done by the Groundwork Collaborative think tank. Production cost (corporate profit) doesn’t determine the prices of consumer goods. The subjective value of the consumer determines those prices. In this article I do not have the space to discuss this very important subjective value theory. I advise my readers to study the literature of the Austrian School of economics.

They also mistake individual commodity price fluctuation for inflation. In a market economy, prices of various commodities are always changing. Such price fluctuation doesn’t reflect the mythical general price level that mainstream economists use to measure inflation.

Also, if corporate profits explain the rise in prices of consumer goods—what mainstream economists call inflation—then what explains the rise in the prices of producer goods? The same corporate profits? We need to remember here that inflation not only increases the prices of consumer goods but also producer goods. When the supply of money rises due to the Fed’s easy money policies of creating dollars out of thin air, it dilutes the purchasing power (value) of all existing dollars in the economy. And because dollars are legal tender money (a common medium of exchange), they will buy less of both consumer and producer goods (i.e., looking from the goods side it will look as if their prices have gone up). Actually, the dollar is losing its value and so buying less of everything against which it is being used in market exchange. …..

(More at MISES.ORG)

Few people have had as profound an impact on modern economics as economist Milton Friedman. His Nobel Prize-winning ideas on free enterprise resonated throughout the world and continue to do so. Johan Norberg, Senior Fellow at the Cato Institute, tells Friedman’s fascinating story.

With the recent passing of Walter Williams, I watched a video of him [Thomas Sowell’s tribute] that reminded me of a video of Milton Friedman on the Donahue Show. So I wanted to combine them for affect.

Gaetz/Seinfeld Bob Menendez Cold-Open

This may be the greatest video to ever be posted on this site.

  • Authorities say they found nearly $500,000 in cash, much of it hidden in clothing and closets, as well as more than $100,000 in gold bars in a search of the New Jersey home Menendez, 69, shares with his wife. (WaTi)