Heritage study on cap and trade
May 13th, 2008 by Brendan SteinhauserOur friends at the Heritage Foundation have a great new study out about the economic harms that a cap and trade system on carbon would cause. Both presidential candidates with a shot at the office support “cap and trade.” In fact, Senator McCain will be pushing the bill mentioned below quite hard this summer. Conservatives should continue to point out the extraordinary costs of this bill. We are talking about anywhere from $1.7 to $4 trillion in lost gross domestic product. Cap and trade is all economic pain for no environmental gain.
Our analysis makes clear that S. 2191 promises extraordinary perils for the American economy. Arbitrary restrictions predicated on multiple, untested, and undeveloped technologies will lead to severe restrictions on energy use and large increases in energy costs. In addition to the direct impact on consumers’ budgets, these higher energy costs will spread through the economy and inject unnecessary inefficiencies at virtually every stage of production and consumption–all of which will add yet more financial burdens that must be borne by American taxpayers.
May 13th, 2008 at 3:16 pm
[...] costs that ‘cap and trade’ would impose on the U.S. I’ve got a post over at Freedom Talks that links directly to the [...]
May 13th, 2008 at 7:48 pm
I agree that cap & trade is baloney. When you’re trying to reduce the amount of a pollutant, any pollutant (and I’m not quite on board with the whole carbon is a pollutant movement), there should just be a standard that everyone has to meet (no grandfather clauses) with penalties if you don’t measure up to the standard.