How many posts have I written about the cap and trade system being promoted by Barack Obama and John McCain? Let’s see there’s:
- Phil Gramm Breaks Down the Free Market, Then Breaks My Heart
- McCain’s Cap and Trade Plan Would Hurt the U.S.
- GOP.com Joins the Church of Global Warming
I’m sure there are more, and many more that mention how devastating this would be to Americans. It boggles my mind that after seeing what this plan has done in Europe, it is being proposed here in America. From Business Week via Hot Air:
The continent has banked its financial future—and moral authority—on creating a low-carbon economy. This gamble’s efficacy now depends on the likes of China, India, and the U.S. deciding whether to embrace carbon trading. “Copenhagen will play a big part in showing that Europe’s creation of a cap-and-trade carbon market will pay off,” says Mark Spelman, global head of strategy at consultancy Accenture (ACN).
If, however, a global agreement for CO2 isn’t reached, many energy-intensive industries reckon their European businesses will be the only one to shoulder the higher costs needed to cut emissions. The extra financial burden eventually could send European jobs overseas and increase costs there.
Read that last paragraph again and ask yourself if that is what America needs right now. Barack Obama knows the plan will cause energy prices to rise, or as he says in the following video, “skyrocket,” yet he is still pimping the plan to voters:
The problem is not technical, uh, and the problem is not mastery of the legislative intricacies of Washington. The problem is, uh, can you get the American people to say, “This is really important,” and force their representatives to do the right thing? That requires mobilizing a citizenry. That requires them understanding what is at stake. Uh, and climate change is a great example.
You know, when I was asked earlier about the issue of coal, uh, you know — Under my plan of a cap and trade system, electricity rates would necessarily skyrocket. Even regardless of what I say about whether coal is good or bad. Because I’m capping greenhouse gases, coal power plants, you know, natural gas, you name it — whatever the plants were, whatever the industry was, uh, they would have to retrofit their operations. That will cost money. They will pass that money on to consumers.
They — you — you can already see what the arguments will be during the general election. People will say, “Ah, Obama and Al Gore, these folks, they’re going to destroy the economy, this is going to cost us eight trillion dollars,” or whatever their number is. Um, if you can’t persuade the American people that yes, there is going to be some increase in electricity rates on the front end, but that over the long term, because of combinations of more efficient energy usage, changing lightbulbs and more efficient appliance, but also technology improving how we can produce clean energy, the economy would benefit.
If we can’t make that argument persuasively enough, you — you, uh, can be Lyndon Johnson, you can be the master of Washington. You’re not going to get that done.
He does two things here. One, he admits that his plan is going to cost people money. A lot of money. And for once, he doesn’t use class warfare, because he knows the little people are the ones who will be hurt the most by this. HE KNOWS IT and he is doing it anyway.
Second, he says, “That will cost money. They will pass that money on to consumers.” No kidding, genius. What do you think they will do with higher taxes? You think they are going to eat those, or “pass those on to the consumers.” As I have said over and over again, businesses don’t pay taxes, consumers do. When their taxes go up, our costs go up.
The worst part about this is that he know what this will do to the American people, who are already suffering from the high cost of energy. And he plans to make it worse.
Hat Tip: Hot Air
UPDATE
Via Drudge, Gateway Pundit, Infidels are Cool, Naked Emperor News and Free Republic:
Transcript via Free Republic. Thanks Freepers:
Let me sort of describe my overall policy.
What I’ve said is that we would put a cap and trade system in place that is as aggressive, if not more aggressive, than anybody else’s out there.
I was the first to call for a 100% auction on the cap and trade system, which means that every unit of carbon or greenhouse gases emitted would be charged to the polluter. That will create a market in which whatever technologies are out there that are being presented, whatever power plants that are being built, that they would have to meet the rigors of that market and the ratcheted down caps that are being placed, imposed every year.
So if somebody wants to build a coal-powered plant, they can; it’s just that it will bankrupt them because they’re going to be charged a huge sum for all that greenhouse gas that’s being emitted.
That will also generate billions of dollars that we can invest in solar, wind, biodiesel and other alternative energy approaches.
The only thing I’ve said with respect to coal, I haven’t been some coal booster. What I have said is that for us to take coal off the table as a ideological matter as opposed to saying if technology allows us to use coal in a clean way, we should pursue it.
So if somebody wants to build a coal-powered plant, they can.
It’s just that it will bankrupt them.”
So, no new coal plants, no new nuclear plants under Obama and the price of energy is going to skyrocket. Sounds great. Glad I am installing a wood burning stove.
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