 merrie says: price of every good and service in the economy. The Environmental Protection Agency estimates that this meddling would cause a cumulative reduction in the growth of GDP by between 0.9% and 3.8% by 2030. Add 20 years, and the reduction is between 2.4% and 6.9% – that is, from $1 trillion to $2.8 trillion. These estimates assume that electricity prices will increase by 44% above what they would otherwise be by 2030. They also assume that existing coal-fired power plants, which currently provide about 50% of U.S. electric power, will be shut down – to be replaced with at least 150% growth in new nuclear facilities, plus other "alternatives." California Democrat Barbara Boxer last week introduced 157 pages of amendments to Warner-Lieberman. Most notably, she sets aside at least $800 billion through 2050 for consumer tax relief. So while imposing a huge new tax on all Americans, she vouchsafes to return some of the money to some people. Needless to say, the Senator will be the judge of who receives her dispensation. Ms. Boxer's amendment shows that cap and trade is also a massive wealth redistribution scheme – all mediated by her and her fellow Platonic rulers. Oh, and she also includes an "emergency off-ramp," should costs prove too onerous. This is really a political "off-ramp" to make Warner-Lieberman seem less dangerous, but you can imagine her reaction if some future Republican President decided to take it. The upshot is that trillions in assets and millions of jobs would be at the mercy of Congress and the bureaucracy, all for greenhouse gas reductions that would have a meaningless impact on global car... Over the past 13 days, over 300,000 Americans have signed a petition calling on their government to act immediately to ease high gas prices. These concerned Americans have sent a simple, powerful message to Congress: Drill Here Drill Now Pay Less My message today is aimed directly at the nearly one-third of a million Americans who have joined this campaign: Instead of acting to lower gas prices, your representatives in the Senate began debate yesterday on a measure that will increase gas prices. Instead of heeding your voice, Congress is acting in defiance of it. Instead of giving you relief from high gas prices, your elected representatives are debating how to give even more handouts t... |
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