Fencing Sarah Palin on Cap & Trade
Posted on 15 July 2009
Okay, the pile on Sarah Palin is so high that we’re just going to crawl on top of it. We refer you to an op-ed on Cap and Trade she wrote for yesterday’s Washington Post.
Why is this the new focus of her attention? Because, Obama’s Cap and Trade Energy Plan “is at the top of her mind.” Us too.
We’ll leave the Washington Post bashing to Brad De Long; But since she is now in our world, let’s just run through the argument:
In criticizing the cap-and-trade bill, Palin implied that America has ample amounts of oil, coal, and natural gas and that it will be able to supply all our needs and allow us to become less dependent on foreign energy sources (drill, baby, drill revisited.)
She advances:
“The ironic beauty in this plan? Soon, even the most ardent liberal will understand supply-side economics.”
Apparently her answer is to “unleash the private sector” and the fossil fuels will flow in a sort of “supply side miracle” without the need for higher energy prices. One immediately wants to ask, “What was it about 2008, when oil hit $147 per barrel, and the supply side could not keep up with the demand and the global economy was pushed into the Great Recession that ardent liberals, or anyone else but her, doesn’t understand?” But that would be an unfair question for Ms. Palin as she was otherwise occupied in the summer of 2008. A fairer question might be, “How does she know there are ample oil, gas, and coal?
She parries:
“We are ripe for economic growth and energy independence if we responsibly tap the resources that God created right underfoot on American soil.”
So take that, you Peak Oil people. Your models simply failed to take into account the Creator’s plans. Lucky for us, Ms. Palin will have more time to explain these matters when she is freed of the mundane chores of governing Alaska. In the meantime, we will help out with a simple chart from the EIA of production from fields in Alaska’s North Slope:
The North Slope has peaked and is in terminal decline
Ms. Palin, please explain how ANWAR drilling, at 100m to 1b bbl a field, can offset this decline curve? At what inexpensive price of oil do unconventional reserves become economic?
The riposte:
“[T]he answer doesn’t lie in making energy scarcer and more expensive! Those who understand the issue know we can meet our energy needs and environmental challenges without destroying America’s economy.”
Those who understand the issue would say the opposite: without a price on carbon, we face the serious and real challenge of climate change on our environment and risk peak oil destroying our economy.
7 responses to Fencing Sarah Palin on Cap & Trade
yes, cap and trade without raising the cost of energy. Is that possible? So what good will this do to help the suffering economy,especially small business owners like myself. Plant more trees and flowers .
No, unfortunately, cap and trade will raise the price of energy. But, by most accounts, specifically the recent study done by the CBO, the price will be modest. In the longer term, the discounted benefit of (hopefully) mitigating the impacts of climate change will be net positive, not to mention the other benefits of fully costing the externalities of, say, the mercury in coal or the air pollution from petroleum transportation fuels, etc…
i admire Sarah Palin because she had done a lot in the area of politics. she has also a good track record when she was still the governor of Alaska.
actually i like Sarah Palin very much. she is a very good role model for all women. i believe that she is a great politician and did something very well in Alaska.
to Marie-
A good role model for quitting her Governorship? And for denying there is an issue with future oil supplies without citing some facts or experts?
Sarah Palin is a good leader. i can say that because she did some projects in alaska that helped lots of people .
Sarah Palin is a woman with a very strong character and personality that is why i like her. ~