There is a lot at stake for former Vice President Al Gore with the Global Warming* issue. Without the threat of Global Warming, he is rather out of a job. Who would hire Al Gore to come speak about the threat of normal weather? Without Global Warming, who would ever buy a carbon credit from the corporation he is affiliated with? Without Global Warming, Al Gore just becomes another washed up Vice President who did not make it to the ultimate status prize of the presidency.

I can understand why Al Gore keeps insisting that Global Warming is a serious threat to the planet.  All of Al Gore's current prestige and status and livelihood are tied to this fabricated crisis.

President elect Barack Obama's buy-in is more difficult to understand, but buy-in he did. Obama meets Gore, urges urgent action on global warming:  (My emphasis throughout)

U.S. President-elect Barack Obama on Tuesday reiterated the need to address global warming as he discussed the problem with former Vice President Al Gore. Flanked by Gore and Vice President-elect Joe Biden, Obama told reporters in Chicago, ‘‘All three of us, I think, are in agreement that the time for delay is over, the time for denial is over.’’

‘‘We all believe what the scientists have been telling us for years now: that this is a matter of urgency and national security, and it has to be dealt within a serious way,’’ he said. ‘‘That’s what I intend my administration to do.’’

Obama met with Gore ‘‘to listen and learn from Vice President Al Gore on the extraordinary work that he has done around the issue of climate change,’’ for which the former vice president won a Nobel Peace Prize in 2007.

Obama is still bent on his environmentally friendly energy program, his green jobs plan--even though they won't solve our energy problems or help our economy.

When people realize what his energy plan will cost, both in Cap and Trade costs and increased utility costs, they might HOPE things will CHANGE back to cheaper un-green energy. From geophysicist David Deming:

"Let the politicians take note. People will not like what you have in mind. California is arguably the most liberal state. Yet last month they defeated, by nearly a 2-to-1 margin, a law that would have forced California utilities to obtain half their electric power from renewable sources. What the Obama administration proposes is much more radical. Their cap-and-trade proposal will dramatically increase the energy costs of the average consumer and likely drive our crippled economy into a severe depression.

Why a president, facing the economic crisis our country seems to be headed toward, would embrace such expensive, inefficient green energy and crippling cap and trade proposals is beyond me. It is beyond geophysicist Deming too, who stated in his commentary, Global warming freeze:

This is an absurd spectacle. Our advanced civilization is being systematically mismanaged by technologically illiterate lawyers responding to political pressures from irrational fanatics. Would someone please tell these people it is impossible to overturn the laws of thermodynamics?

We cannot improve our economy by artificially forcing people to use expensive, unreliable and inefficient energy sources.

As Deming concludes, "To the extent global warming was ever valid, it is now officially over." Now we just have to get the politicians to look at the facts, because I cannot afford to pay triple WE energies bill charges!

*The term Global Warming is morphing into the term Climate Change because world temperatures have not cooperated over the past 10 years. Many examples cited in Global warming freeze? point out that current data shows warming "is now officially over."

Please, comment content should relate to the subject of the post. Although I try to respond to many, do not interpret my lack of a response as agreement.

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I heard both Congressmen Paul Ryan and Jim Sensenbrenner interviewed on Jay Weber's radio show this morning. (Hour 4 Part 2). Since I trust the opinion of both of these men, I was curious as to why Ryan voted YES and Sensenbrenner NO on the latest bailout bill. 

First Congressman Ryan, who does have a degree in economics. The following are some notes I took from the interview--they are not direct quotes. Listen to the podcast if you can.

Ryan said the bill yesterday was the Paulson plan with quite a bit of tweaks.

The original Paulson bill was 3 pages: Give me a blank checkbook with $700billion.

We wrote a [Republican] alternative. Ours said, Let's make the firms buy insurance.

We rewrote the bill, added stock options--warrants to taxpayers, so the taxpayer is first in line to get money back (if there are profits--that means ACORN would not be getting funding as the orig. Paulson bill stated.) Executives won't get a Golden Parachute.

This bill was $350 billion: $250b immediately and $100b later. An additional $350b would need to be voted on in the future.  

Over the weekend, credit markets went crazy. The problem is not just on Wall Street. Credit markets are shutting down. [That means cash flow for payrolls is unavailable.] There is a fear of recession.

"I'm now sincerely worried this could lead to recession."

Jay Weber: Can we move slowly or do we need to move quickly?

Ryan: Tax money goes out the door either way, this way (bailout) or from FDIC (if banks fail.) Paulson mishandled this so badly.  We added 107 pages to his bill. 

I have never seen things like this [credit freezing up]--ever. Businesses won't be able to cash flow payrolls.

Weber: There is a deep distrust of Congress.

Ryan: 2,300 calls [to my office] almost all against the bailout. [That is changing a little now.] We have to corral Wall Street so it doesn't spill to Main Street.

Weber: Why aren't Republicans hammering this?

Ryan: I am. Since 2002 I have voted against Freddie and Fannie every time.

I think Paul Ryan voted for this measure because he is genuinely worried about our economy shutting down. He knows that if businesses cannot get credit to meet their payrolls, that means workers do not get paid. With many Americans just a paycheck away from being broke, we cannot afford to let that happen. Businesses also use credit to purchase supplies and equipment for future production.

Then it was Congressman Jim Sensenbrenner's turn:

Paulson [Barney Frank] plan fatally flawed from the beginning. That money all came from taxpayers.

The word was, $700billion would not be enough.

America can't afford this. We are wealthy, but there is a limit. 

All of this is inflationary. Interest rates will shoot up. [Remember] 20% prime rates during Carter? 

We should go back to the regular order [of crafting legislation] with committee meetings, rather than Paulson saying we have to do this.

Weber: We're racing against the clock.

Sensenbrenner: When markets opened [today] they were up 200, so hopefully the markets have calmed down.

Paulson is pushing for now. It bailed out the people who caused the problem.

I'm prepared to go back when Pelosi calls us back.

This is a case of Congress serving the people. 

Weber: What angers people is Frank and Dodd in charge of the fix. Is there any mechanism to say when you failed the people, get off the committee!

Sensenbrenner: The Community Reinvestment Act was a significant factor [to what is going on.] 

The process worked yesterday. The speeches like from Pelosi need to stop. She also knew there were not the votes to pass. Why did she bring the bill to the floor? [To fix blame on the Republicans]

Weber: Would you change the Community Reinvestment Act?

Sensenbrenner: Repeal of that law should be in the new package now.

The Security and Exchange Commission dropped the ball--enforcement was not vigorous. 

The Justice Department should investigate if any fraud was committed. [Imprisonment would serve as a deterrent.]

So there you have the Yea and the Nay. Where is Solomon when you need him? 

Conservatives would hope the next version of the bailout bill would be better for taxpayers, that it keeps money from ACORN and repeals the Community Reinvestment Act. With this crew I don't have much hope.

My fear is that the next version will included ACORN funding again or worse. The Democrats will vote for it, and President Bush, who is really over a barrel here, will have to sign it.

Calls from Americans running 500 against, to 1 in favor, of the bailout might be the only thing that saving us from an UGLY pig of a bill.

Post Script: Along the lines of Sensenbrenner's request that they craft this bill carefully, 165 Economists rip bailout plan:

The economists say they are well aware of the current financial situation and agree there's a need for bold action but ask Congress "not to rush."

They urge lawmakers to hold appropriate hearings and "to carefully consider the right course of action." 

Right now the market is up 307 points from yesterday's close. You can check anytime on USAToday. (If you leave it open, it automatically refreshes.) 

Please, comment content should relate to the subject of the post. Although I try to respond to many, do not interpret my lack of a response as agreement.

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