Thursday, September 17, 2009

Carbon Dioxide Cap And Trade

EIN News says, "Cap-and-Trade Memos Fire Up the Skeptics. Climate-change legislation might be on the Senate's back burner, but the heat's still on climate politics. The latest flare-up occurred this week when the Competitive Enterprise Institute, which questions whether human and industrial activity is linked to global warming, released a one-page internal Treasury Department memo from March estimating potential government revenue from a cap-and-trade climate bill at $100 billion to $200 billion a year. The memo assumed that 100 percent of the emission permits would be auctioned, unlike in the plan approved by the House in June. The Treasury had blacked out a phrase at the end of the following sentence: "It will raise energy prices and impose annual costs on the order of . . ." (washingtonpost.com)".
Congratulations to the Competitive Enterprise Institute for their position in recognizing that there is no valid scientific evidence that human and industrial activity is linked to global warming. I would modify that a bit to insert the word "significant".
The Institute has also put its finger on the key reason why the Administration continues to promote the myth of global warming generated by carbon dioxide. That is, it's release of the Treasury Department memo anticipating an increase of $100-$200 billion per year in government revenue through Cap and Trade.
It would be a travesty for government to confiscate $100-$200 billion per year from individuals and industry through taxes and confiscation of assets. However, insult is added to injury when the confiscation also forces industry to large capital investment for CO2 control, when such is not necessary.
How about the part where the Treasury Department blacked out a section at the end of a sentence? Censorship? Action of a dictatorial regime?

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