Cap-and-Trade Study -

[WhiskeyGirl]

U.S. Reps. Henry Waxman of California and Ed Markey of Massachusetts, two of the leading Democratic co-sponsors of H.R. 2454—the American Clean Energy and Security Act of 2009, better known as the cap-and-trade bill—asked the United States Energy Information Administration to analyze their bill's impact on energy prices and the U.S. economy.

EIA also says that because the cap-and-trade bill that passed the House "increases the cost of using energy," that real economic output will decline. This, in turn, "reduces purchasing power, and lowers aggregate demand for goods and services," which pushes projected real gross domestic product down below where it is predicted to be if everything is otherwise left alone.

So the secret is out. The fig leaf has fallen. The real point of the cap-and-trade bill is to reduce the production of greenhouse gases by driving up the price of energy. The savings in emissions will come not from new, breakthrough technologies like solar and wind and cellulosic ethanol and advanced nuclear reactors like the Bush administration pushed for, but by reducing U.S. economic activity.

If energy is more expensive, people will use less of it. That's how the market works.

http://www.usnews.com/blogs/peter-roff/2009/08/05/government-study-shows-cap-and-trade-will-raise-energy-prices.html

No jobs for you America, no industry, no way to make a living or feed a family.  Also, you will be taking in and paying for millions, if not billions of people who are here illegally and continue to come.

How many years before the U.S. enjoys third world status?  The rich get richer (like the energy market traders) and the poor get poorer.  So sorry, middle class long gone.

[WhiskeyGirl]

Examiner Editorial: U.S. cap-and-trade bill would trigger new global trade war

August 6, 2009 Among the least discussed flaws in the Obama-Waxman-Markey cap-and-trade bill that recently passed the House and is pending in the Senate is the serious damage it will inflict upon international commerce and trade. Steven Chu, President Barack Obama’s energy secretary, warned in March that “if other countries don’t impose a cost on carbon, then we will be at a disadvantage.” To compensate, the argument goes, we would impose penalties — aka “tariffs” — on products bought by Americans and produced in other countries that don’t abide by politically correct limits on carbon emissions.

Senators now preparing to take up the House-passed version of Obama-Waxman-Markey should heed the miserable failure of cap and trade in the European Union. France has proposed that such tariffs be imposed against non-EU nations that do not submit to a new deal on climate change. A top German official has described the proposed U.S. carbon tax as “a new form of eco-imperialism.” Instead of mimicking self-destructive European practices, American leaders should roll back punitive energy regulations at home and bolster alliances that count abroad.

http://www.sfexaminer.com/opinion/Examiner-Editorial-US-cap-and-trade-bill-would-trigger-new-global-trade-war-52551537.html

I don't worry so much about tariffs...

The anti-American policies of the current Obama administration, I don't see any hope for Americans.  No jobs, no industry, no rights, no business, no innovation...

The anti-American administration is all for global corporations and super-rich global persons.

No jobs for America.  No prosperity.  No hope.

[WhiskeyGirl]

Cap and trade hurts the economy without helping the environment

Businesses are not fans of the legislation. A study commissioned by the National Black Chamber of Commerce showed that cap and trade will reduce the national GDP by roughly $350 billion, cut net employment by 2.5 million jobs, and cost the average U.S. worker hundreds of dollars in annual earnings over the next 20 years. Cap and trade will result in higher energy costs, reduced salaries and higher prices for goods that are produced in the United States.

Political conservatives call the legislation the "mother of all pork bills," and they view it as another in a long line of government handouts to industries favored by Democrats. In order to pass the legislation through the House, in fact, Democrats forged an agreement whereby 85 percent of the credits that are to be given away for free will go to companies and industries chosen by Democratic House leadership. Special interests, conservatives say, would profit on the backs of working families.

People of all political stripes worry about the complex credit trading system. At a time while the economy is still reeling from the meltdown of the complex, unaccountable and non-transparent derivative trading system, cap and trade would give those same bankers and traders control over carbon credits and influence over energy costs. Former presidential candidate and Democrat National Committee Chairman Howard Dean recently told a reporter, "I'm terrified of a Bernie Madoff in the cap-and-trade business." Emissions trading could drive the creation of more risky financial tools like derivatives, hedges and credit default swaps that have fueled our recent economic crisis.

read more here - http://www.bizlex.com/Articles-c-2009-08-02-88744.113117_Cap_and_trade_hurts_the_economy_without_helping_the_environment.html

[WhiskeyGirl]

Since energy is the lifeblood of the American economy, 85 percent of which comes from CO2-emitting fossil fuels, the Waxman-Markey bill represents an extraordinary level of economic interference by the federal government. For this reason, it is important for policymakers to have a sense of the economic impact that accompanies any environmental benefits.[1]

Analysis by The Heritage Foundation's Center for Data Analysis (CDA) makes clear that Waxman-Markey promises serious perils for the American economy for the years and decades ahead. Waxman-Markey requires arbitrary and severe restrictions on the current energy supply and infrastructure. These restrictions can be met only through large-scale deployment of still-undeveloped or uneconomical technologies and alternative energy sources. In addition to the direct impact on consumers' budgets through higher electric bills and gasoline prices, the resultant increase in energy costs will reverberate throughout the economy and inject unnecessary inefficiencies at virtually every stage of production. It would suppress economic activity and reduce employment, especially in the manufacturing sector. Virtually all costs would eventually filter down to the American people.

Waxman-Markey extracts trillions of dollars from the energy-using public and delivers this wealth to various groups--some of whom may be more deserving than others, and some who are simply better at lobbying. That could mean low-income households in an attempt to compensate them for sharply higher energy costs, or regulated industries that have effectively lobbied for compliance assistance. In any event, cap-and-trade allowances are a tax and would be the largest tax increase in recent history.Waxman-Markey extracts trillions of dollars from the energy-using public and delivers this wealth to various groups--some of whom may be more deserving than others, and some who are simply better at lobbying. That could mean low-income households in an attempt to compensate them for sharply higher energy costs, or regulated industries that have effectively lobbied for compliance assistance. In any event, cap-and-trade allowances are a tax and would be the largest tax increase in recent history.

http://www.heritage.org/Research/EnergyandEnvironment/cda0904.cfm

No jobs for you America, just continued destruction of your culture, independence, and future. 

No hope for the future from this anti-American administration.

jmho