How Cap and Trade Plans to Cripple Our Economy

RedState Morning Briefing

Posted by Vladimir (Profile)
Thursday, December 17th

If you can’t understand conceptually why a Cap and Trade system is such a bad deal, how about a concrete example?

The European Union is a signatory of the Kyoto Protocols and have been dealing with a Carbon Cap and Trade system for several years. This article in today’s Wall Street Journal shows how the potential profit from the sale of carbon credits directly led to the loss of 1,700 jobs in a British steel plant.

Shakedown in Copenhagen

By Patrick J. Buchanan
12/18/2009

If you would know what Copenhagen is all about, hearken to this nugget in The Washington Post’s report from the Danish capital.

“Ethiopian Prime Minister Meles Zenari — who is representing all of Africa here — unveiled his proposal Wednesday for a system in which rich countries would provide money to poor ones to help deal with the effects of climate change. …

“Zenawi said he would accept $30 billion in the short term, rising to $100 billion by 2020. … This was seen as a key concession by developing countries, which had previously spurned that figure … as too low.”

Obama’s Message: Be Afraid, Very Afraid

By Oliver North
12/18/2009

Washington, D.C. — Federal Reserve Chairman Ben Bernanke is TIME magazine’s “Person of the Year.” Twelve months ago the “honor” went to president-elect, Senator Barack Obama. Notably, the 1932 recipient was president-elect Franklin Delano Roosevelt, who asserted in his March 4, 1933, Inaugural Address, “The only thing we have to fear is fear itself.”

Roosevelt went on to describe the economic anxieties of millions left jobless in a deepening depression as “nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance.” He then served notice that if the “national emergency” required it, he would “ask the Congress for the one remaining instrument to meet the crisis — broad Executive power to wage a war against the emergency, as great as the power that would be given to me if we were in fact invaded by a foreign foe.”