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  • Today's Calamity: Will Cap and Trade Save the Planet?

    Last week, in our inaugural Cap and Trade Calamities, we laid out the exorbitant costs the Waxman-Markey cap and tax bill would impose on your family. But if it saves the planet, isn’t it all worth it? The fact is, our planet is not in the immediate danger environmental activists purport it to be, and even if it were, Waxman-Markey would not do a thing to stop it.

    When the benefits of cap and trade are measured against the costs, the costs significantly outweigh the negligible benefits. We break down the exorbitant costs of Waxman-Markey’s imposed carbon emissions reductions here. Let’s dissect the benefits.

    According to a calculation by climatologist Chip Knappenberger, the temperature reduction by 2100 if we enacted the Waxman-Markey cap and tax bill would be between 0.1 and 0.2 degrees Celsius by 2100. Even the Obama Administration’s Environmental Protection Agency admitted that U.S. action alone would not change world carbon dioxide emissions.

    One big reason that a bill with such sweeping economic changes would have no substantial environmental impact is because China, which emits more carbon than the U.S. and is increasing their emissions levels much faster, will not cut back. China, as well as India and other fast developing nations, have made clear that they will never hamper their own growth with global warming measures like Waxman-Markey. Increasing emissions is a sign of industrial growth and no developing country wants to stunt that growth.

    Unfortunately, some in Congress don’t care that the extraordinary perils of carbon dioxide regulation for the American economy come with little, if any, environmental benefit. They are siding with radical environmentalists who are willing to pay anything to “save the planet,” even when the benefit is barely noticeable.

    On Thursday, we’ll explain how the Waxman-Markey cap and trade bill, in typical government fashion, promises more than it can deliver.

    You can sign up to receive Cap and Trade Calamities where we point out the problematic provisions in the Waxman-Markey bill, as well as our Energy & Environment newsletter, here.

    Posted in Energy [slideshow_deploy]

    29 Responses to Today's Calamity: Will Cap and Trade Save the Planet?

    1. Lynne, Van Nuys, Ca says:

      To what peril does the left cause others less fortunate to pay and live with the consequences of their "limited improvement" ideology. Very few liberals walk their talk. They are not willing to live through the consequences of their policies. Our liberal lawmakers sip champagne while their constituents are left with water filters and new shopping bags made of recycled water bottles (I have just received two in the mail: one from Appalachia and another from a Native American School in the Midwest.Ho Hum!

    2. Lynne, Van Nuys, Ca says:

      Continued from my last note: Why doesn't the left champion the causes of the gross neglect in Appalachia, the underfunded Indian reservations promised a better life or shower our disabled vets with right offs on free health care, housing and education? To drill in the waste land of Alaska is a "duh" and putting up smoke screens and deceptions about illegal aliens and their "rights" are so misplaced and unjust that it defies understanding. I would understand their position more if they believed in God

    3. Lynne, Van Nuys, Ca says:

      3rd and final submission I would accept some of the lefts concern for saving the planet if they championed the power of the constitution's position on "endowed by our Creator…life, liberty and the pursuit of happiness." While they attempt to erase all reference to God from our culture they somehow also neglect the right of the unborn to life, the plight of the poor in America on reservations and Appalachia, and the meager provision for our disabled vets in areas of health care, education and housing. Explain!!!

    4. DELFIN J BELTRAN MD says:

      The real calamity is the failure of exposing the fraudulent, non-truth of the AlGorethm known as Global Warming. There should be no article published about Waxman-Markley, Cap and Trade of the Washington Scam. There is no such thing as human activity that has any measurable effect on the heat that is insolated to earth from the sun or the loss of heat from the earth. There are obviously alteration of heat transfer through the atmosphere, but NONE are capable of accurate, existing, valid techniques.

    5. Cathy, Kansas City says:

      Why don't we refuse to import anything from China or India? Cap and Trade is not really about saving the planet, it's about exerting more control over the American people.

    6. fiftyfifty says:

      C.A.is one state that needs to get off the green trip C.A. could drill there way back to the top. and then get rid of your liberal lawmakers waxman waters boxer finstian and the list goes on and on.

    7. Albert Roark, Jacks says:

      It is truly odd that the "Environmental" Party, the folks on the left side of the isle, can't see the forest for the lack of trees. What converts carbon dioxide to oxygen? Right, those things we've cut down, cemented over and turned into deserted strip centers, abandoned buildings,etc. Eliminate cap and tax and start a "Grass Roots" Reforestation effort. Just don't let D.C. get hold of it. I can see all the regulations now.

    8. HawkWatcher, MI. says:

      Thanks for letting us vent at The Foundry.

      Do whatever you can to help kill Waxman-Markey! It should be labeled the Ratman-Pinkey Energy Tax on Everything Bill. Hit us while we're down, will you? Gutless pussies make me fight back harder. What can one financially challenged person do?

      One person can make a difference. It's fun, easy, and you get to learn great stuff. Give it a try. It's a form of social activism. Not the Saul Alinsky type, but a grassroots American type.

      Surf the holy Gore-given internet regularly, feeling the true pulse of the nation. Along your journeys, take time to inform yourself of many current things Political, and things Constitutional. When you find great stuff, print it and share. People in your circles will soon take notice of your reliable knowledge.

      Some will come to you seeking information about something they heard. Be prepared. If you know your stuff, they will soon start asking what your opinions are. Be persuasive. If you're good, they will soon be asking for advice.

      Bingo! You have found a mind that will not waste your time, and is receptive to conservative ways of thinking. Now you can begin to influence them, training them in the ways of our founders. Am I waxing poetic? Help them learn to love their country and defend limited Constitutional government.

      Wean the trainees of their MSM-induced ignorance and biases, expose the eco-maniacs and the leftists. Prove how dangerous to liberty statism is. The ultimate goal is to anger them, motivate them, and enlist their help in fighting damaging and unnecessary legislation like Ratman-Pinkey. We need these trainees to vote correctly in 2010.

      Thanks to Heritage for the many fine .pdf presentations you make available to us. I printed the cap-and-trade analysis and took it to work along with a ton of climate change data challenging the EPA CO2 endangerment claims. Minds were changed at the shop, actions were pledged, and I'm taking the data to others now.

      Heritage helps us FIGHT! Together, and one person at a time, we will win! Recruitment is up! Illegitimi Non Carborundum!

    9. Keiron, Paris says:

      Truly staggering and unbelievable! Anybody who believes in a guy called "Chip" for their scientific evidence is short of credible sources. There is a Global consensus that there is a climate problem and that it's a result of our interaction with the planet.

      A good place to start is the US Global Change Research Program, this was established in 1990 by the Global Change Research Act during George Bush senior's Presidency (Republican). It is a non-partisan super smart group of people who deal in facts not wishful thinking.

      Climate Change is a problem that needs to be dealt with now or it will cost us so much more later.

      For the full Federal report go to the link below


    10. Alex, Coral Springs, says:

      There are ways to go about this in a sensible way. But like everything in Washington nowadays, it's all about politics and these corrupt tyrants wanting to impose their power on the people.

      SAD TO SAY but Bill Maher was right when he said that America is a stupid country. Proof of that is in this past election cycle. MISTAKE IN 08

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    12. Bob, Portland, OR says:

      Waxman the "taxman", the rest of the world is laughing at this rediculous concept.

      The math they used to calculate the effect carbon emmissons will have on the earth is fraudulent. Their calculations grossly overstate the truth.

      It is a lie.

      Australia, China, The UK, India and the rest of the world all know this and so does Waxman the Taxman.

      Cap and Trade or Cap and Tax is a just a hustle to take more of your money.

      The joke is on us if they get this or health care or any of their other despicable law's passed.

      Understand that Waxman and his ilk want to elevate themselves to some form of midevil royalty where they can tell you what to eat, where to live, what to drive, the number of children you can have and when you will die.

      Wake up America!

    13. Bob, Portland, OR says:

      You might asked, "why would Waxman and his ilk want this kind of power and influence over Americans"?

      It's simple, when they have this level of control over us, we will then be beholding to them for any kind of favor or dispensation.

      For example, some medicine or treatment to live longer.

      The power and control they are trying to gain will cause most of us to be "licking their bootstaps" just to survive.

      If this happens, you have seen the last of things like town hall meetings and quite possibly free and honest elections.

    14. Jim says:




    15. Mike Shaw, Wichita says:

      CAP and TRADE is a further attempt ruin our economy by restricting the use of cheap energy in the form of petroleum. 35 years ago my Geology prof gave us the gloom and doom speech: "Change your majors to something else because fossil fuels like petroleum and coal will be completely depleted worldwide in 10 years. Geologists won't have jobs." Sadly, I did just that.

      Today we have more proven reserves of petroleum in the newly discovered Bakken Field alone than Saudi Arabia has ever had. I suspect petroleum is a product of carbon based limestone and water in ocean plates being subducted under the continental plates where it is metamorphosed with heat and pressure. The planet continually makes it; we just have to find it. It is not running out. Russia, China, Cuba, etc. are wisely not participating in any version of Cap and Trade, but their servants here are forcing us to do so.

    16. Tim AZ says:

      Crap and raid is purely about feeding the pigs and their little piglets too. They only want to raid and crap on the American citizens. Just more business as usaual the people obviously enjoy being crapped on. Why else would they send these bums back to DC in return for more abuse for years on end? How's that hope and change working out for you?

    17. Tom Olson, Bethesda, says:

      Do you post only comments that support your position?

      Your claim of "exorbitant costs" from Waxman-Markey is not supported by any of the analyses performed by neutral economists, such as those at the Congressional Budget Office.

      And the suggestion that we wait for China and India to act first is simply a recipe to give up.

    18. Roger S., Ma. says:

      "Keiron, Paris": Thankfully, none of us commenting here need to believe! either the ever less trustworthy U.S. Government, or Mr. Chip Knappenberger, or you! We have our own experiences and own minds, thus are not willing to "believe" in anything. You'll have to do better than a link to government "advertising" of their current "party line".

      –Using my own experience, I can say this: Human activity does affect the climate. The question is where and how large the scale, and what Global effects, if any, result. For example, my business (factory and office) is located in the suburbs (industrial park) of a medium –by global, especially Asian standards, small– city. I live "down-town" — like the theater, concerts, museums, galleries, good restaurants, and so on. When I drive home late, especially in the winter, my car's outside thermometer easily registers a 2-3 degreeC temperature rise. Driving further out into the country, say to the local airport, temps tend to drop an additional 2-3 degrees. When I fly over the city at say, 10Kfeet, going from country to suburb, to city, to again country, my outside air temps don't change at all. Also, a dusting of snow in the suburb will frequently not yield even a melted flake downtown. Conclusion: Whatever "climate changes" are due to the relatively high concentration of human activity in city and suburbs rapidly dissipate to become subsumed in the predominating large-scale meteorology. In other words, our activity evidently impacts temperatures and weather phenomena only in a (very) local "micro-sphere". What effects this then has on the regional or even global meteorology, even assuming the use of quite sophisticated "Chaos-theory" based models, is currently impossible to calculate, much less predict far into the future.

      –On to Chip: He did the same thing you or anybody else here could do, namely to use the MAGICC/SCENGEN model (same one used by the Gov.), and IPCC's own figures, and Waxman-Markey's own assumptions, to show what differences would result. No need to repeat the results here, because you can look them up, even download the model and do your own "experimenting" if you feel inclined. Whatever you do, using the government's own figures, the conclusion is one of minimal –almost immeasurably small global warming– impact if we go it alone, but a disproportionately huge cost to our economy, and therefore a gigantic competitive disadvantage. Currently, we WILL be "going it alone." Neither China nor India, the evidently largest impactors, have shown any interest in doing likewise in the foreseeable future.

      –Leaves "unanswered" the assumption that CO2 is really the AGHG driving that other assumption, global warming. Against any government assertions that this is "settled science" stands plenty of evidence that the globe is presently in a cooling phase, and that warming/cooling have far more to do with solar activity than with anything humans have done to date. Nobody yet has dared to submit a serious claim regarding the precise proportion of the human factor among all of the other factors influencing global climate cycles. Why not? If any body had hard answers, wouldn't that be a figure to confer "bragging rights"? Could it be that the variables of this question would be even less "tractable", and the required assumptions even more "far-fetched"? Do your own "guessing"!

      –My conclusion: So far the Government, including Congress, have presented Junk-Economics based on Junk-Science to advance what can only be called Junk-Politics which will result in more Junk Bonds convertible (maybe, someday) into more Junk-IOU's. I prefer to call this bill "Taxman-Snarkey", in honor of the only thing it is really set to accomplish: Tax the "bejeesus" out of ordinary Americans to feed another collection of "snarks" lining up to practice (b/p)ig-time "lobby-politics as usual". It needs to be stopped with as much, if not greater, urgency than that unsavory HR3200. In fact, I'm beginning to worry that HR3200 was just the intended diversion to keep the public from becoming really untethered about this monstrosity.

    19. Harry, New York says:

      Cap and trade for China , India, and Europe make a lot of sense.

      Cap & trade for the USA will bankrupt our country, destroy its cohesion, and lead to its eventual dissolution, because The United States has no underlying ethnic identity, and has relied on raising lifestyles to remain viable, and peaceful.

      The 50 year long depression that follows Cap & Trade will lead to civil war, and the breakup of the USA.

    20. Lloyd Scallan - New says:

      ONE MORE TIME! The entire "Green Movement" is a lie designed to destroy our capitalist system. One prime example, The Spotted Owl. Logging in the PNW, was shut down because the enviornmentalist told use the owl must have "old groth forest" for nesting. After millions of dollars were lost by the logging industry, owls were found nesting on Wal-Mart signs alongside hiways. Not one word from any green socialist. The green movement is part of the Apollo Alliance which had evolved from true communist groups formed the 60's.

    21. Pingback: » Financial News Update - 08/26/09 NoisyRoom.net: Where liberty dwells, there is my country…

    22. Rick, New Mexico says:

      Everyone keeps trying to make sense of what these idiots on the hill are doing. Obviously cap and trade won’t benefit the environment. Then, who does it benefit? Another question is who in the hell wrote that bill. One look at either of these guys, Waxman or Markey, and you know they don't have the smarts to write such a thing.

      So, do you think the green czar, Van Jones had anything to do with it? After all, he’s on the board of Apollo who wrote the stimulus bill.

      It’s all smoke and mirrors with this bunch. We have to quit listening to the words and look at the facts. Health Care, Cap and Trade, Stimulus, Auto Industry take over, it’s all the same thing folks. It’s the new world order this statist bunch wants and they will do anything to get it. Newt had a great little line in his newsletter today, "Facta, non verba."

    23. Lynn B. DeSpain says:

      Cap and Trade will no more save this Planet than would stapling the San Andeas Fault to prevent an earthquake! Fist off, what this planet is going through is normal, if one just looks far enough back in history. Secondly, no matter what America, and Europe do, China, and India, with their increases in production completely wipe out any potential gains from Cap and Trade.

      So what we are left with is what Cap and Trade are really about, Tax increases. Whether called fees, licensing whatnots or will haves, they are taxes! Just one more way for Government to put its filthy hand into your pockets. If you are like me and live in Oregon, you get Capped and Traded Twice! How nice! Our electric bill will double in just four years instead of eight. Check out how much the Feds are charging you in Fifteen years! We are locking up the wrong crooks!


    24. Rick, New Mexico says:

      Everyone keeps trying to make sense of what this Obama administration is doing. Obviously cap and trade won’t benefit the environment. Then, who does it benefit? Another question is who wrote that bill? Waxman and Markey don’t have the time or resources to write such a monstrosity.

      So, do you think the green jobs czar, Van Jones had anything to do with it? After all, he’s on the board of Apollo who wrote the stimulus bill.

      It’s all smoke and mirrors with this bunch. We have to quit listening to the words and look at the facts. Health Care, Cap and Trade, Stimulus, Auto Industry take over, it’s all the same thing folks. It’s the new world order this statist bunch wants and they will do anything to get it. Newt had a great little line in his newsletter today, “Facta, non verba.

    25. GringoBob La Tigra C says:

      Keiron – quit drinking the koolaid pal and out down thew funny ciggerats

      EPA et al has spent some $80Billion over the past 10 years to justify their manufactured view of global warming so folks like yourself can blindly repeat the lie – take a few minutes to look at a different truth


    26. Nicolas Loris Nick Loris says:


      The economists at the CBO may be neutral but their analysis underestimates the true costs of the legislation, and it's not really an economic analysis but instead looks at the transfer of allowance revenue.

      See this for more. http://www.realclearpolitics.com/articles/2009/06

      Even the Brookings Institute recognizes this bill will inflict significant economic damage and they certainly are not always on our side of the debate.

    27. rmm says:

      Personally, as regards Cap and Tax I am in favor of throwing those leftist politicians and RINOS pushing for that disaster waiting to happen to our economy (Who shall remain nameless. you know who they are) not to mention the fools/moonbats in the EPA, Dept of Energy, Sierra Club et.al into the Black Hole of Calcutta. The last individual I would chuck into the Black Hole of Calcutta is a certain chap (and political hasbeen) who claimed to invent the internet, among other things.

    28. enerwise, sc says:

      I think we really do need to drill for more oil just to know how much we have, but the, bakken field, must have a rather large amount of energy in to get the oil out, a supplement to our demand at best.

      PLEASE don't dismiss off hand that there is a glut of oil because there is not. critical oil fields are declining rapidly. goggle oil supplies U.K., Cantrell Mexico,

      The U.S. economy has contracted and slowed this has lowered oil demand and in my opinion kept the cost of oil down only temporarily,

      cap and trade , will give the government power to take money from any manufacturer and if they get this power I know they will use it and what ever money they get wasted away.

      at the cost of us and our children.

    29. Pingback: Senator Webb to Obama on Copenhagen: Don’t Do Anything Congress Can’t Do | The Foundry

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