• The Heritage Network
    • Resize:
    • A
    • A
    • A
  • Donate
  • Obama Lays out Formula for Economic Disaster at Copenhagen

    In his speech at the Copenhagen Climate Change Conference, President Obama told leaders from around the world that “the time for talk is over.” Obama pushed for all major economies to reduce greenhouse gas emissions but admitted some doubt as to whether a collective agreement would be reached. He could offer no concrete plans and nothing more than confidence that cap and trade legislation would be signed into law next year in the United States. While the focus of his speech was primarily on what actions the United States government was undertaking, he stressed that climate change should be addressed using

    “Mitigation. Transparency. And financing. It is a clear formula – one that embraces the principle of common but differentiated responses and respective capabilities. And it adds up to a significant accord – one that takes us farther than we have ever gone before as an international community.”

    This is a formula for nothing more than economic disaster and wealth distribution.

    Mitigation is a costly, ineffective way to address climate change. Using a cap and trade system in an attempt to change the earth’s temperature would cause gasoline prices to rise by 58 percent ($1.38 more per gallon) and average household electric rates to increase by 90 percent. Net job losses approach 1.9 million as immediate as 2012 and could approach 2.5 million by 2035. Cumulative gross domestic product (GDP) losses are $9.4 trillion between 2012 and 2035. Climatologist Paul Knappenberger projects that cap and trade will only change global temperatures a fraction of a degree and admission from Environmental Protection Agency’s Lisa Jackson that U.S. action alone won’t have any noticeable effect, yet President Obama urged that “America is going to continue on this course of action no matter what happens in Copenhagen.”

    But even collective action wouldn’t fare any better. One study of the 1997 Kyoto Protocol that called for 5 percent emissions cuts below 1990 baseline levels by 2012 found that even if each country reached its targeted emissions reductions, it would reduce the earth’s temperature 0.07 degree Celsius by 2050.

    Transparency is a term that has been stressed repeatedly even before the President took office; it was one of the lynchpins of his campaign. The Climategate emails and other documents that revealed collusion in exaggerating data, ostensible illegal destruction of information, manipulation of data, and attempts to freeze out dissenting scientists from publishing their work in reputable journals show that the scientific debate is anything but transparent.

    We’re unlikely to see any transparency in commitments to reducing carbon dioxide emissions either. China, for instance, prefers to measure carbon emissions relative to its size of the economy mostly because it is less verifiable than a pure emissions target. Since carbon intensity is measured in relation to gross domestic product and Chinese statistics are often altered or censored, it will be easier for China to “meet” its goals.

    Financing for developing countries would merely be a historic transfer of wealth. Secretary of State Hilary Clinton said America would be a part of a massive foreign aid package, $100 billion annually, in the name of helping developing countries combat global warming. Heritage Senior Policy Analyst Ben Lieberman writes, “How much she expects the U.S. taxpayer to contribute to the $100 billion annual fund was not clear, but it could well be more than the $26 billion America spends on foreign aid each year. There are plenty of issues with past foreign aid programs. In many cases only a fraction of the funds were well spent, and aid can encourage the perpetuation of the very reasons (and regimes) that gave rise to the need for assistance in the first place. Foreign aid doled out to fight global warming has another big drawback – the problem it addresses is an overstated one.”

    Action may be louder than words, but with Americans strongly opposed to an exorbitant national energy tax, the only thing Obama can offer are words of hope.

    Posted in Energy [slideshow_deploy]

    19 Responses to Obama Lays out Formula for Economic Disaster at Copenhagen

    1. Casey Verdant says:

      Obama’s address at Copenhagen was harsh and all too vague about how America and the world can take a more progressive approach to global warming. Hopefully his private discussions and meetings with other global leaders will lead to more progress and clearer goals than his public address

      If you’re interested in global energy standards and creating green jobs, check out http://www.greencollareconomy.com. It has hundreds of case studies on emerging green technology and emissions standards. It's also the largest b2b green directory on the web.

    2. Ben Gee, Edmonton, C says:

      Something has to be done before it is too late. Scientists will argue until the cows come home. If the richest and highest producers do not want to pay, who would? If the energy tax is anything like foreign aids, than the givers will benefit more than the receivers.

    3. Lone Star Buckeye, T says:

      What a joke Obama is, unfortunately the joke is on America :'(

    4. Freedom of Speech, T says:

      I'm flabbergasted. I'm almost at a loss for words – but not quite!

      TRANSPARENCY!!!!!!!! Like we're getting with this health care nightmare! We can't even do THAT in this country and we're supposed to be TRANSPARENT with the world?

      FINANCING?!! That is not even code word for meaning WE pay the lion's share, as usual for this fastly discredited scheme.

      If people are not intentionally trying to destroy us than we have the most econmically and fiscally irresponsible and ignorant leaders in the history of this country.

      That ____Keynisan B/S.

    5. Jim - Ohio says:

      OBAMA, PELOSI AND REID MUST GO !!!!!!!!!! THEY HAVE AN AGENDA TO TOTALLY TRANSFORM AMERICA LIKE

      he SAID, AND he's DOING IT. GOD HELP US !!!!!!!

    6. TP says:

      This global warming "remedy" is nothing of the kind, unless one admits it is nothing more than a money grab by third-world thug countries into the pocket of the American taxpayer.

      Just like 'Cap and Tax' is a money grab by greedy and selfish leftists into the pocket of the American taxpayer.

      Just like 'Obamacare', which will increase costs and limit quality and the amount of care. is a power and money grab by arrogant and self-serving leftist and statist politicians in this country.

      Just like the 'Porkulus' bill is, by it's very design, simply a slush fund for Obama and the socialists in governemt to help in their re-elections. Recent news stories have shown it is about politics, not jobs (dem districts get more than twice the amount of conservtive districts, with the amount of economic hardship in a district not a factor in determining who these cynical politicians give the money too.

      Get the picture. Anything from the left … be suspicous, very suspicious. Always look behind the curtain, watch the other hand, don't blink. Assuming the worst of intentions by our democrat-controlled government will give you a much clearer picture of the aims and designs the left here and around the world has on this country.

      And those designs are as much for the good of the nation as the aforementioned initiatives.

      With a congress like this, who needs enemies ?

    7. RON, HOUSTON says:

      it is imparative that we all let any of our so called representatives know that if they vote FOR anything having to do with cap & trade, or this 100 billion in redicules spending, will be voted out of office! the free spending by the 60 people running this country must stop! Ron

    8. Bobbie Jay says:

      We don't want other peoples wealth, Mr. Obama, we want the opportunities that ONCE WERE, FOR OUR CHILDREN AND OURSELVES TO WORK FOR AND EARN OUR OWN WEALTH!

    9. Bobbie Jay says:

      Sorry, tired.

      Hillary, Mr. Obama, quit bribing the world with other peoples money over something you can't control or guarantee. That is proven, doesn't exist because of mankind, nor exist at this time. Your hypocrisy is observed, therefore your deception is also proven.

      Get out of the way! The people can do for themselves. Get your hands out of other peoples pockets. People will keep safer with or without your rhetoric and illogical speculation.

      Let's move on to something that exist, like the American government take-over of America and the American people.

    10. Bob, Portland, OR says:

      I personnally don't care what the Big Fool signs, we will just undo it in 2012.

    11. Leda, Albuquerque says:

      When words such as "Cap and Trade must pass" contained in Obama's Copenhagen speech, fear should run through the bloodstream of American's like battery acid! BUT we must recognize that Obamas massive power grab has already been achieved through his EPA ruling to mandate CO2 and other carbon emissions (which Congress has the power to dismantle, but does Nothing). Between Health Care Reform and EPA Rulings, this Government now controls 86% if the US Economy and has given the power to Czars and appointees to make stringent rules which control every aspect of Citizens lives.

      It's now up to Americans to pressure Congress about their lack of response and representation of the American People to allow EPA to attain such power . . and the EPA is controlled by Congress! We must demand the debate on Climate Charge, the largest farse on earth! If Americans fail to gain control of their Tyrannical Government, 2010 in Mexico City will lead to the destruction of the American Republic, International Gun Bans, Civilized Euthanesia, and UN Dictatorship/US Dictator and a New Global Governance.

    12. Dave, Laguna Niguel says:

      America, pre-liberals, lead the way in everything! Number ONE in EVERYTHING! Oh but we hurt everyones FEELINGS in the process. Now the libs want us to PAY FOR EVERY OTHER COUNTRY'S FAILINGS! The reality is, we will pay billions of dollars which will go into the pockets of a few DICTATORS, never to reach the people! Thats the way socialism works STUPID! Then we will be a socialist country under Obama! What does socialism look like? Imagine the NBA,NFL and Pro baseball under socialism:1)no prayers before, during or after any game for any reason. 2)all games end in a tie. 3) all players earn the same paycheck as the peanut thrower in the stands. Now how long will these sports last? And NOW, no place to DEFECT(a forgotten word!).

    13. TJS, Leesburg, FL says:

      There is only 1 degree of warming, and it is now cooling down. CO2 is powerful plant food, a boon to farming. This is all socialist foolishness and lies. Relax, and vote out all liberals, socialists, and worse.

    14. RLV Phila.Pa. says:

      I think the reprenitive Government that we had for over 200 years is gone.Our representives do not listen to the people anymore,they are not afraid of the elections in 2010 & 2012 because these elections will probally be rigged by "Acorn & Co.We must figt these people in the courts.

    15. Lynn B. DeSpain says:

      All Obama has to do is open his mouth, there's your disaster!

    16. Louis L Cesar F Levy says:

      Just be ready for a second American Revolution. Make no mistake about who manipulate these unconscious; the Woman of the Bible.

    17. Pingback: AntiObamaBlog.com » Obama Lays out Formula for Economic Disaster at Copenhagen

    18. robert board, presco says:

      Climate change is the greatest hoax ever perpetrated upon the world. No wonder the world is so eager to jump on the bandwagon. They get all of our technology and money free, no charge. This not about helping the planet. It is pure and simply greed. Wealth redistribution. But with the Left it is labled care and concern. Is anyone tired of tired of having your country vilified and attacked, tired of apologizing for our greatness? The real shame is all of the damage is being done from within our country and from the top down. We are the most generous nation on the planet. I am afraid that what we will be remembered for is that we are the most stupid people in the world to have given away the greatest nation while on our watch.

    19. Rekindle America, IL says:

      Like I said just after this election. The only way to make it seem like 3rd world countries are moving up their standards of living, is for the government to lower the United States peoples standard of living. They are creating so much havoc people don't know what to believe . But they are going to get caught in their own game people are finally catching on. I hope they are not to lazy to do something about it!

    Comments are subject to approval and moderation. We remind everyone that The Heritage Foundation promotes a civil society where ideas and debate flourish. Please be respectful of each other and the subjects of any criticism. While we may not always agree on policy, we should all agree that being appropriately informed is everyone's intention visiting this site. Profanity, lewdness, personal attacks, and other forms of incivility will not be tolerated. Please keep your thoughts brief and avoid ALL CAPS. While we respect your first amendment rights, we are obligated to our readers to maintain these standards. Thanks for joining the conversation.

    Big Government Is NOT the Answer

    Your tax dollars are being spent on programs that we really don't need.

    I Agree I Disagree ×

    Get Heritage In Your Inbox — FREE!

    Heritage Foundation e-mails keep you updated on the ongoing policy battles in Washington and around the country.

    ×