Monday, May 4, 2009
Obama Explains the Effects of Cap and Trade
What are two effects Obama says cap and trade would have?
1. A huge sum would be charged that would bankrupt anyone building a coal-powered plant.
2. Electricity rates would skyrocket.
Where does this leave the coal industry? Also, when energy rates go up, many other prices also go up. Obama would make this program permanent with stricter requirements each year.
All this would raise costs, raise taxes, and impose more controls in the name of fighting "climate change," a non-existent "crisis" about which, even if climate is changing, which it naturally does over time, nothing can be done anyway. Carbon dioxide is not a pollutant. But this plan is another step toward wrecking the American economy. Think the financial meltdown has been bad? We've yet to see the impact of Obama's plans for that. This is equally destructive if not worse. How many businesses will close or leave America if this plan comes into effect? Probably a lot. If we think of our economy as a building, cap and trade is a wrecking ball.
Cap and trade is supposed to provide billions for "investment" in alternative energy sources. Wind and solar power industries will develop as entrepreneurs (capitalists!) see a profit potential and are willing to invest in them. Right now these things, as far as massive energy production is concerned, are a pipe dream that's going to cost billions, and with government in charge, the payoff is doubtful, and far away at best.