Waxman Markey Cap and Trade’s Biggest Losers: Paper, Plastics and Rubber
Posted June 25th, 2009 at 1:07pm in Energy and Environment 
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We continue to highlight particular industries hit hard by the Waxman-Markey cap and trade bill. The next three, although technically classified as two categories, are also energy-intensive subsets of the manufacturing sector. The North American Industry Classification System (NAICS) classifies the plastics and rubbers products industries as a manufacturing “subsector [that] make[s] goods by processing plastics materials and raw rubber. The core technology employed by establishments in this subsector is that of plastics or rubber product production. Plastics and rubber are combined in the same subsector because plastics are increasingly being used as a substitute for rubber; however the subsector is generally restricted to the production of products made of just one material, either solely plastics or rubber.”
And just as the name states, the paper industry includes everything paper. And just like other energy-intensive industries, paper, plastics, and rubber would all be hit disproportionately hard by a cap and trade bill that drives up the cost of energy.
How bad is it?
The Waxman-Markey bill would destroy over 33,000 plastics and rubber jobs on average, which would hit a high of over 80,000 fewer jobs by 2035.
The paper industry fares a little better, but it’s still not good news. It’s like chopping off one foot as opposed to both. Heritage analysis found that with cap and trade there would be 15,000 fewer jobs on average in the paper industry, reaching 36,291 fewer jobs by 2035.
But don’t worry, because the architects of the bill built in unemployment insurance; too bad it will only help 1.5% of those losing their jobs from the bill. And over the 2012-2035 timeline, job losses average over 1.1 million. By 2035, a projected 2.5 million jobs are lost below the baseline (without a cap and trade bill). Do the workers in paper, plastics, and rubber like their odds?
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3 Responses to “Waxman Markey Cap and Trade’s Biggest Losers: Paper, Plastics and Rubber”
Thomas B. Wilks on June 25th, 2009 at 1:07pm said:
Wake up America! Damn It! I have owned and operated a plastic molding business for more than 40 years. We used to build injection molds (China has ALL of that work now so instead of 20 employees I have ONE (1) in my tooling shop? On my production floor we had been running 24/7 and employed more than 58 people, that changed too. We currently have: FIVE (5)?
This “Cap and Trade” TAX will force me to close my doors! Ok the goverment looses tax revenue, (income and property), I’ll no longer be able to support my employees and their famlies. Insurance will not be paid and my venders will loose business. None of my people will be shortchanged! They’ll just need to find jobs. Thank You Mr. President. Wake Up America, and do it soon. When you are at war with China and need neucular detenators, send your PO’s to China, because those of us that have the skill to machine them will have already left. Good Luck!
Tom
Barb mn on June 25th, 2009 at 1:07pm said:
Close shop now, until the government shows RESPONSIBILITY, RATIONALITY, AND ACCEPTANCE of REALITY AND TRUTH!
David M on June 25th, 2009 at 1:07pm said:
I have been in the plastic film products business for over 30 years and have steadily seen the deterioration of business to China. Instead of our employees losing their jobs, the people in Congress should be the unemployed. There should be no such thing as a “Career Politician” and there should be no tolerance for “Campaign Rhetoric” (another word for lie). Vote them all out, limit their terms, eliminate that plush retirement package and lifetime medical package they enjoy and let them collect unemployment for 13 weeks. We’re accountable, why aren’t they?