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  • The Cost of Cap and Trade: Another $600 Billion A Year

    Earlier this year, the Heritage Foundation’s Center for Data Analysis studied the Waxman-Markey cap and trade/energy tax legislation and found that it would cost Americans $9.4 trillion in aggregate GDP losses over the 2012-2035 time frame. This analysis included an assumption that Waxman-Markey would be rebating part of the energy tax back to consumers.

    But then earlier this week we documented how climate negotiators in Europe, in conjunction with the Obama administration, were plotting to send those very same energy tax dollars overseas to developing countries like China and India.

    Now a U.N. Report on Developing Nations’ Energy Needs details just how much money American tax payers will be sending to China and India as part of any international cap and trade climate change deal:

    It will cost between $500 billion and $600 billion every year for the next 10 years to allow developing nations to grow using renewable energy resources, instead of relying on dirty fuels that worsen global warming, according to a United Nations report released Tuesday.

    Posted in Energy [slideshow_deploy]

    18 Responses to The Cost of Cap and Trade: Another $600 Billion A Year

    1. Jackie Durkee, Louis says:

      This bill is going to be devastating to the U.S. Economy and to the American citizens.. . And there is NO global warming crisis! There has got to be a way this administration is brought to a halt on all this destructive legislation taking place. In FDRs time, the Supreme Court declared some of his bills unconstitutional. Where is our Supreme Court when we need them?

    2. Bobbie Jay says:

      instead of relying on dirty fuels that worsen global warming?

      What educational grade level have these people accomplished? Their wording is so grade school which means they are grossly overpaid with our money.

      Real question: WHERE IS THE EVIDENCE? WE WANT ENERGY INDEPENDENCE like obama promised AND WE WANT IT NOW! WE WANT TO USE OUR NATURAL RESOURCES NOW!!!!

      NOTHING GOES FORWARD WITH TAX DOLLARS WITHOUT EVIDENCE! SOUND, WITHOUT BIAS OR CONFLICTION OF INTERESTS EVIDENCE!

      THEY'RE BRIBING THE WORLD OF THIS FRAUD WITH OUR MONEY!!!!

      Obama's efforts to control the world!!!

      GET OUT OF OUR HEALTH AND NATURAL RESOURCES! LET US HAVE OUR ENERGY INDEPENDENCE!

    3. Robert, Fort Collins says:

      Unfortunately, our Supreme Court has been strangled through partisanship, and is used more as a tool for the party in command than as a government door stopper. Too bad, indeed.

    4. Dan says:

      I hope everyone wakes up to this as they have with Obamacare. Here in the not so golden state of California, some of the regs they have passed many people do not know about unless they read and ask questions. Wake up folks, we need to continue to be on the defense with these idiots in office.

    5. John New, Ohio says:

      American citizens need legislation that protects and promotes jobs within the United States. The American Clean Energy and Security Act, also known as HR2454 fails the American people on all aspects. In Ohio alone, it is anticipated that an estimated 33,000 coal related jobs would be lost with an additional 125,000 U.S. coal mining jobs lost by the year 2030. In an economy that is vigorously trying to survive a recession, this further reduction within the American workforce, will destroy the integrity of the American economy and collapse the hope of being able to obtain the American dream for generations to come. Let your Senators know you care at http://tinyurl.com/klfut8.

    6. Pingback: » Financial News Update - 09/02/09 NoisyRoom.net: Where liberty dwells, there is my country…

    7. Heath, New York says:

      Cap and Trade isn't such a bad idea in and of itself. There are initiatives like the Regional Greenhouse Gas Initiative that have had major successes and provide a framework for how we could implement a system for carbon trading in the US.

      As far as sending Billions to developing countries for renewable energy upgrades – I can't think of a better way to pay off our national debt. Imagine where our economy would be if China did not purchase our debt.

      I'm neither Democrat or Republican, but I am an American that still holds true to our American values of doing what's right (even when it's hard), taking responsibility for my own actions, and working hard to insure that my children can enjoy the life that we have all been so fortunate to enjoy.

      Something needs to be done whether or not you believe climate change is real or not. There is a cost for using energy and we are all responsible for paying our part. To do anything else we continue to live the lie and embrace our self centered, selfish ways.

    8. Roger S., Ma. says:

      Those provisions and figures may not be the last word on these measures; just the same, they are patently INSANE! At a time when not just we, but the whole world, are in dire need of every last Dollar, Euro, Renmimbi, Yen, and Rubel of productivity that can be generated, the very last thing either we or the world need will be a "relocation" of the world's most productive capital to the least productive economies. WE can't afford it, THEY can't absorb it, and no amount of wishful thinking can change this FACT! The pure insanity of this scheme defies every nightmare!

      A few days ago I commented elsewhere on this bill, calling it "Taxman-Snarkey". So far alone in this rather colorful but succinct estimate, I wrote:

      “Taxman-Snarkey”: That “the taxman cometh” should be obvious, maybe not so that he’ll be trailing a host of “snarks” to outnumber all of “the angels on high” plus all of the “devils below”, not to forget that the “Snarks” will be freely morphing into “Boojums"!" — I think I'll want to spend tomorrow nailing a new sign on my door: "Prophet"

      A couple of days before that, I had already written:

      “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……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.”

      How come "prophecy" leaves one with such a feeling of doom?!

      I'm not in the habit of praying much, but there's this old Rosary I haven't touched in a while… Time to find it!

    9. Luke, Kansas says:

      The real problem here is that we the people have let these brainless idiots get out of control. We are the ones who elected them so we are partly to blame. It is high time we let them know who is supposed to be in control at the ballot box! So many of these policies are so ludicrous, a person really has to wonder what corner of who's mind they came from. And as far as that goes, how they got to where they are in the first place. Whatever happened to checks and balances?

    10. Mike, Winston-Salem says:

      Bobbie Jay,

      I also am getting tired of the "dirty fuels" term. We have made great strides in the past several decades to clean up the emissions of our power plants, but we hardly ever hear of any kudos for that.

      We (the people) are capable of great innovation – IF THE KNOW-IT-ALLS AND SPECIAL INTERESTS IN DC WILL GET OUT OF THE WAY!

      Lets believe in American Ingenuity!

      We don't need this crazy bill!

    11. Steve, PA says:

      The cap and trade legislation promises disastrous consequences for the American economy. We can not allow this legislation to pass! Let Congress know: http://tinyurl.com/klfut8

    12. GringoBob in La Tigr says:

      time for the next round of town halls – stop these fools

      our voting matrix – http://Group912.org

    13. Bobbie Jay says:

      You're so right, Mike. people that fell for this insanity, mad=made global warming, are reminded of the great strides taken to reduce pollution, who think back and then realize how much has/is being done to keep it clean. Some are too young and indoctrinated, difficult for them to grasp …

      When the government is on the road to destroying this country, people will never get the whole story. Narrowing to kill the minds who's only will, to be a pledge to their master, Obama!

      Sorry, just heard something very disturbing…

    14. Cogitate, Connecticu says:

      My thoughts on Cap and Trade: How this bill will actually increase emitted pollution.

      Firstly the people that write these bills need to step back and look at the big picture by having lawyers write all these bills the intent is lost in the wordage.

      Keep it simple to see the big picture. The United States have some of the most stringent environmental laws in the world (not the most but near the top). With this background information I beg anyone to rebut my comments.

      Hypothetically, the US produces 100 widgets for 100 dollars and the carbon emitted is 20 units. The cap and trade bill passes, and the cost to produce the same 100 widgets now goes up to 120 dollars. As a corporation would rightly do is to scan the global market place for someone who can produce the same widgets for a cheaper price. Country X offers to produce the widgets for 80 dollars and 20 dollars for transportation.

      Results:

      1.) Manufacturing outlets close( lost tax revenue)

      2.) Lost Jobs (lost tax revenue)

      3.) Greater pollution (country X has weaker environmental regulations, now to produce the same 100 widgets the carbon emitted is 80 units)

      4.) For the companies that cannot purchase from another country i.e. energy, they will simply pass the cost to the consumer.

      Fix: Offer substantial tax rebates to corporations that upgrade their environmental systems.

    15. Jeannie, Atlanta says:

      I try hard to read both sides. I am neither liberal nor democrat. The people of this planet are using up our natural resources at an alarming rate. Does it mean we should abandon our most abundant resource in coal? No, but it does mean we need to advance our process for extracting the coal without leveling our mountains, and we must continue our progressive research in disposing of the carbon waste. American ingenuity is completely capable of leading this charge, but we have not been incented in the same way as other nations. Current U.S. law does not incentivize clean coal (and coacl extraction) in America. Cap and trade (at least) will help push this country to our leadership potential.

      The one comment I make on both sides of the fence is that when conversation is decidedly uncivil – reference childish name calling – those posts are typically dismissed. If you want your opinion and information respected in the social media world, you must continue to respect all opinions. That's American, right? While I have disagreed with both Bush and Obama in many ways, I have never, for a minute, believed they were/are not trying to improve our nation.

    16. Pingback: » Financial News Update - 09/03/09 NoisyRoom.net: Where liberty dwells, there is my country…

    17. rich weirton, wv says:

      All of you that voted American haters into office should be tested for sanity. You reap what you sow. Unfortunately those of us smart enough to see through these haters of America have to live with the problems that your ignorance has caused for all of us.

      Well, you voted for "hope" and "change". How's that working out for you?

    18. Pingback: The Gold at the End of Obama’s “Reign”bow « Soldier For Liberty

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