Thursday, November 05, 2009

Chamber Of Horrors

The US Chamber of Commerce is giving in to the global warming hysteria.

The Competitive Enterprise Institute responded today to the U.S. Chamber of Commerce’s announcement that it will now support energy-rationing legislation by calling on small businesses to drop their Chamber membership and join CEI in fighting this catastrophic legislation.

In a November 3 letter to Senators Barbara Boxer (D-Calif.) and James Inhofe (R-Okla.), the Chairman and Ranking Member, respectively, of the U.S. Senate Committee on Environment and Public Works, the Chamber announced that it would now support legislation based on a recent New York Times op-ed by Senators John Kerry (D-Mass.) and Lindsey Graham (R-S.C.).

“It appears that the Chamber has caved under enormous pressure from some of its biggest member companies. They have reluctantly enlisted in the effort to reward these big special interests with gigantic windfall profits at the expense of consumers and small businesses,” said Myron Ebell, CEI Director of Energy and Global Warming Policy.

“We invite small businesses whose interests are no longer being well-represented by the Chamber on this critical issue to drop their membership in the U.S. Chamber and join us at CEI in fighting against all energy-rationing legislation, even so-called compromises that only partly wreck the economy. We welcome their support. We will not capitulate,” said Ebell.
So I guess they are not actually giving in. More like bought off after some big guys left the Chamber because the Chamber would not support raising taxes on energy.

They have a better idea in Oregon. Tax breaks. But Oregon tax breaks to support $Green Energy are not working out quite as well as expected.
The latest news is that the Green Tax breaks aren’t what they were promised to be and taxpayers are getting hosed for a cost 40 times what was voted on:

State lowballed cost of green tax breaks
State officials deliberately underestimated the cost of Gov. Ted Kulongoski’s plan to lure green energy companies to Oregon with big taxpayer subsidies, resulting in a program that cost 40 times more than unsuspecting lawmakers were told, an investigation by The Oregonian shows.
It gets worse. Now tax breaks are being sold in Oregon for less than they are worth.
And we have a list of some of those doing the selling. And who is doing the buying.
* Peak Sun Silicon, of Millersburg, sold a $3.25 million tax credit to US Bank for $2.18 million.
* Peak Sun also sold a $5.85 million tax credit to two companies: Nordstrom for $2.85 million and Standard Insurance for $2 million.
* Solaicx, of Portland, sold a $9.04 million tax credit to US Bank for $6.05 million.
* SolarWorld, of Hillsboro, sold an $11 million tax credit to Wal-Mart for $7.37 million.
* SolarWorld also sold a $10.96 million tax credit to Flir Systems, of Portland, for $7.34 million.
Hey. In a down economy companies need to raise money any way they can. There is absolutely nothing wrong with stealing from taxpayers. Governments do it all the time.

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