Tag Archives: Trade

What will cap and trade mean for American consumers?

The Heritage Foundation posted this summary of the top ten points regarding cap and trade.

Cap and Trade Top Ten List
1. Cap and Trade Is a Massive Energy Tax
2. It Will Not Make A Substantive Impact on the Environment
It Will Kill Jobs
4. It Will Cause Electricity Bills and Gas Prices to Sharply Increase
5. It Will Outsource Manufacturing Jobs and Hurt Free Trade
6. It Will Make You Choose Between Energy, Groceries, Clothing or Haircuts.
7. It Will Be Highly Susceptible to Fraud and Corruption
8. It Will Hurt Senior Citizens, the Poor, and the Unemployed the Worst
9. It Will Cost American Families Over $3,000 a Year
10. President Obama Admitted “Electricity Rates Would Necessarily Skyrocket” under a cap-and-trade program. (January 2008)

I can help with number 4: the energy price increases for consumers are right here, courtesy of Michele Bachmann.

Their post goes on to list and analyze the effects of various legislation proposed by Democrats in terms of number of jobs lost and amount of money confiscated from the private sector for the government to spend. It’s amazing how many times Democrats tried to destroy the economy while Bush was President. And now they will finally be able to do it!

The article also mentions how many jobs will be lost by the proposed green jobs programs, as well as how many jobs will be outsourced to China and India, who will enjoy a manufacturing boom since they are not capping their emissions at all.

That’s right, let’s be clear on that:

The Ultimate Outsourcing: India and China have repeatedly said they would not match U.S. environmental goals in order to protect their economies. Cap and Trade will merely move manufacturing jobs to China and India.

There are people I know who voted for Obama who are worried about their jobs. They complain to me about outsourcing. They do not understanding that Obama causes outsourcing by taxing “the rich” and regulating “greedy corporations”. What a tragedy! Defeated by your own ignorance!

The 10 part series on cap and trade

The Heritage Foundation has also started a nice series of 10 posts about what cap and trade will do to the economy. In this series, they are going into a lot more detail than in the summary posted I talked about above.

Part 1 is called Cap-and-Tax is a Jobs Destroyer.

They explain cap and trade:

It works like this: Policymakers set a cap on the amount of carbon dioxide and other greenhouse gases that can be omitted into the atmosphere. Each power plant, factory, refinery, and other regulated entity will be allocated allowances (rights to emit) six greenhouse gases. However, only a certain percentage of the allowances will be allocated to these entities. The remaining percentage will be auctioned off or distributed to other emitting entities. Most emitters will need to purchase at least some allowances at auction. Emitters who reduce their emissions below their annual allotment can sell their excess allowances to those who do not–the trade part of cap-and-trade. Over time, the cap would be ratcheted down, requiring greater cuts in emissions.

So this is basically a tax on energy production. Yes, Democrats think that we produce too much energy, employing too many Americans, and that we sell it for too little money. According to Democrats, we need less production, fewer jobs and higher consumer prices for electricity. And other companies who use energy will have to pay more for it as well.

Take a look at this graph showing projected job losses under the Liberman-Warner cap and trade bill:

Jobs lost from Lieberman-Warner bill
Jobs lost from Lieberman-Warner bill

Click the image for a bigger version.

Now let’s take a look at Part 2, which is called Cap and Trade will force you to make budget cuts.

Again, Heritage explains how cap and trade transfers money out of the private sector, where money is used to produce goods, into the public sector, where money is wasted by bureacrats on bicycle paths and gold monuments to Obama.

…if President Obama were to sign a cap and trade bill into law, he would have to call for familial budget cuts much greater than one dollar. (For a brief explanation of how cap and trade works, go here.) As recently acknowledged by a top White House official, a global warming tax could generate as much as $1.9 trillion in tax revenue over eight years, which amounts to a nearly $2,000 tax every year for every American household.* Add this up over the period of a few years and we’re talking about trillions of dollars in lost income for the entire U.S. economy.

And here’s the chart:

How much will cap and trade cost you?
How much will cap and trade cost you?

I hope the people with low income who were hoping to become rich under Obama won’t be too shocked to find that the poor do better under capitalism not socialism. I mean, I hope they don’t drop their television remote controls and doughnuts.

Save us Michele Bachmann!

Actually, she did save us on that mortgage cramdown bill that I blogged about while back. So my pleading is not in vain.

UPDATE: Good news! Michelle Malkin says the cap and trade tax is in trouble! It turns out that the Democrats in manufacturing-intensive states are aware of what the tax will mean to their unemployment rate.

Yesterday, I noted Henry Waxman’s debate-evading maneuvers to try and facilitate passage of the massive eco-tax/”climate change” bill.

The NRCC sent out a helpful fact sheet outlining why the radical green plan is really in trouble. You can thank opposition from Democrats in manufacturing and energy-producing states.

Michelle has all the citations from the Democrat politicians who are never going to vote for this mess. So, good news!

UPDATE: My post on the fraud involved in the “polar ice caps are melting” myth.

Are polar ice caps really melting due to global warming?

This post is old, please take a look at some of my newer posts

Are global warming alarmists wrong?

Consider this article from The Australian: (H/T Watts Up With That)

ICE is expanding in much of Antarctica, contrary to the widespread public belief that global warming is melting the continental ice cap.

The results of ice-core drilling and sea ice monitoring indicate there is no large-scale melting of ice over most of Antarctica, although experts are concerned at ice losses on the continent’s western coast.

Antarctica has 90 per cent of the Earth’s ice and 80 per cent of its fresh water. Extensive melting of Antarctic ice sheets would be required to raise sea levels substantially, and ice is melting in parts of west Antarctica. The destabilisation of the Wilkins ice shelf generated international headlines this month.

However, the picture is very different in east Antarctica, which includes the territory claimed by Australia.

East Antarctica is four times the size of west Antarctica and parts of it are cooling. The Scientific Committee on Antarctic Research report prepared for last week’s meeting of Antarctic Treaty nations in Washington noted the South Pole had shown “significant cooling in recent decades”.

And here’s the graph that goes with the findings:

Source: Cryosphere Today
Source: Cryosphere Today

Why are global warming alarmists wrong?

Now we know that they’re wrong. Why are they wrong? Well, maybe I should start by showing that the media is cherry-picking data in order to delude the public. This post by Anthony Watts which explains how the media deliberately recycles the images and stories about imminent climate catastrophes. This time, it’s about a vast antarctic shelf that’s about to collapse.

Only one problem. It was just about to collapse last year, but the media is re-using the the same scary stock photo and story again this year and telling us again that it’s just about to collapse.


Those masters of disaster are at it again, and it appears our friendly scientists at that National Snow and Ice Data Center (NSIDC) help this story along each year.

…It seems that not only is the photography recycled, so is the storyline. It seems to happen every year, about this time. Note the photos show shear failure and cracks, not melted ice. Shear failure is mostly mechanical-stress related, though ice does tend to be more brittle at colder temperatures.

National Geographic reported this story headline last year, March 25th 2008.

…From the Nat Geo story:

“[It’s] an event we don’t get to see very often,” Ted Scambos, lead scientist at the U.S. National Snow and Ice Data Center in Boulder, Colorado, said in a press statement.

Now, how is it that an ice shelf breaks up in the spring of 2008 and again in the spring of 2009 and it’s “not very often”? Hmmm.

Watts goes on in his post to take a look at how much the ice shelf has really changed over the years (it hasn’t) and whether the air temperatures have gotten warmer (theyhaven’t) such that the air would be causing cracks. So all we really have is a scary re-used photo and a lot of propaganda.

What are the economic effects of policies based on global warming alarmism

Well, to start with, we’re going to lose a lot of jobs, due to increase taxation and regulation of “the rich” and “greedy corporations”. And, the EPA is going to raise consumer energy prices and put American money in the pockets of terrorists, by curtailing domestic energy production. And, we’re going to waste tons and tons of taxpayer money subsidizing corporations to be “green”.

The good news: public opinion is shifting away from global warming alarmism

A recent Rasmussen Reports poll shows that there is hope. (H/T The Chilling Effect)

Global Warming is Primarily Caused By…
Date Human activity Planetary Trends Other Reason
Apr 09 34% 48% 7%
Mar 09 41% 43% 7%
Feb 09 38% 45% 7%
Jan 09 44% 41% 7%
Dec 08 43% 43% 6%
Apr 08 47% 34% 8%

So at least we’re slowly winning the battle for truth. Unfortunately, Obama has got until 2010 until he can be challenged in the mid-term elections.