Monday, November 2, 2009

Nobel Prize-Winner: Cap-and-Trade Could Ruin U.S. Economy

With climate change legislation under consideration by Congress, an environmental expert with a Nobel Prize-winning organization warns that the cap-and-trade bill supported by Democrats could destroy the American economy.

Dr. Steve Running, Director of the University of Montana’s Climate Change Studies program, is on the board of the Intergovernmental Panel on Climate Change, which shared the 2007 Nobel Peace Prize with global warming crusader Al Gore.

During a Wednesday interview with a radio talk show host in Montana, Dr. Running said efforts to deal with climate change will fail unless they involve all nations.

"If the U.S. passed cap-and-trade and other countries did not, it wouldn’t work," he declared.

"It would ruin the U.S. economy and it wouldn’t save the climate either. So this is a global issue, the global climate statistics are global in nature, global carbon emissions are global in nature, and we really have to have an international consensus of what to do. That is going to stretch our international diplomacy to its limit, there’s no doubt about that."

Running called on the U.S. to show leadership on the climate change issue, saying other countries will follow suit.

But China and India, two nations that produce large amounts of greenhouse gases, are not expected to adopt cap-and-trade measures like those being debated in the U.S. Congress.

Sen. James Inhofe, the ranking Republican on the Senate Environment and Public Works Committee, has voiced sentiments similar to Dr. Running's. He told Newsmax in a recent interview that cap-and-trade won't work because "it doesn't matter what we do in America — if we drive our manufacturing base off to places like China, India, and Mexico, places where they don't have any emissions standards or restrictions, then it's going to have the effect of increasing and not deceasing CO2."

He also said cap-and-trade would amount to the "largest tax increase in the history of America."

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1 comment:

Peter said...

Agree with Dr Running,
there are many reasons why cap and trade are wrong,
whether or not you believe that emissions should be lowered
-including the international aspect:
Emission Trading (Cap and Trade)
Basic Idea -- Offsets -- Tree Planting -- International Trade: Manufacture Shift -- Fair Trade -- Surreal Market -- Allowances: Auctions + Hand-Outs -- Allowance Trading -- Companies: Business Stability + Cost -- In Conclusion

As it happens,
if there is to be an emission policy,
Electricity and Transport sectors alone (80% of emissions) are sufficient to meet emission reduction targets,
with measures advantageous in themselves (including energy renewability, and that emissions contain much else, whatever about CO2),
long term funded for reduced consumer price impact,
without efficiency regulation, industrial carbon taxes or cap and trade schemes