About ACES - Part 1

H. B. 2454 is 1200 pages long. Sound familiar? "You have to pass it to find out what's in it." Trust me. You DO want to know what is in it. That bill is dormant right now. I suspect that the committee the prez established with his new E. O. will piece all the parts together. And through the EPA, other Federal departments and agencies as well as more E O s, the job will get done.

HOW THEY WILL DO IT
How should I start. Hmm... I guess I'll start with the Carbon Storage Research Corporation. This is a company that will be established by "qualified industry organizations." The first thing that it must do is to raise money from amongst themselves. The bill was submitted in 2009 and the amount ranged from about $1,000,000 to $1,750,000. That was 2009. I have to assume that would be much higher today. Of course, the bill allows this amount to be passed on to the users (that would be you and me). They get to raise funds each year. The rate each year will depend upon the submitted budget for all the "probable" costs. Here's a real laugher: "If the corporation does not disburse...75% or more of the available proceeds" after 7 years, the amount not disbursed must be returned.
Let's say that the average assessment was $1,500,000. So for 7 years that would be $10,500,000. And 25% of that would be $2,625,000. The annual electrical usage in 2011 was 4.38 billion kWh. So here is what you would get back:

Your annual kWh/4,380,000,000 X $2,625,000

That would be $.46 for me. Never mind, please apply that to the national debt.

WHAT THEY WILL DO
This company will use that money to issue grants to eligible entities. What are these entities supposed to do? They are going to find ways to "Capture" carbon emissions and "Sequester" (store) those emissions. I'm sure we can study that for under $15 million over 10 years. NOT!! I see them saying that that is not nearly enough to study such a complex problem

More to come