Saturday, June 27, 2009

US' cap and trade bill and economic competitiveness

About 2 hours after I posted the message below re. "close fight" between the Yes and No on the US energy and environment bill (aka cap and trade bill), the Yes won, 219-212.

Marc Morano of made a good editorial,
"Climate Bill's Passage Represents 'nothing more than unrestrained exercise of raw political power, arm-twisting and intimidation'"

Portions of Marc's editorial goes like this:

"Current polling data reveals that the American people “get it” when it comes to man-made global warming fears. Given the wealth of recent polling data showing Americans are growing increasingly skeptical, Congressmen and Senators are simply not hearing any clamor from voters to "act" to "solve" global warming.

In fact, the opposite is true, voters are rebelling against the unfounded climate fears and the so-called "solutions" in growing numbers. Below is a small sampling of recent polling data on global warming.

1) Gallup survey found global warming ranked dead last in the U.S. among ENVIRONMENTAL issues – March 2009

2) Gallup Poll Editor: Gore has 'Failed' -- 'The public is just not that concerned' about global warming – May 2009

3) Zobgy Poll: Only 30% of Americans support cap-and-trade -- 57% oppose – April 2009

4) "Gallup Poll: Record-High 41% of Americans Now Say Global Warming is Exaggerated" - March 11, 2009

5) Rasmussen Poll found Only 34% Now Blame Humans for Global Warming - 'Lowest finding yet' -- 'reversal from a year ago!'

Now that the bill has cleared the house and heads to the Senate (where they will be preparing their own version of a cap-and-trade bill) the American people will awake to the reality that this purely climate symbolic bill with real economic and lifestyle impacts may actually become law."

If the same bill will pass the US Senate, then the Obama administration will head to the UN talks in Copenhagen this December with a "proud achievement" of having a law that will institutionalize ecological central planning in the US.

For countries or bloc of countries that consider the US as a "rival" economic power, they should welcome that possibility. Because the US will soon have expensive power and electricity rates, will have higher taxes and commodity prices (almost all goods and services will be produced through more expensive power rates), and drag the economy to slow growth. All for a promise goal of "saving the planet" when the planet is not in any danger from anything except the warming hysteria that was hyped by the UN IPCC, UN FCCC, US' EPA and NASA, Al Gore, and other institutions and individuals.

For countries that do not consider the US an economic "rival", they should welcome this development too. More American investors and entrepreneurs will soon consider leaving that country and make business elsewhere, especially to countries with low taxes and more relaxed environmental regulations, and still maintain the rule of law and private property rights protection.

Pres. Obama, House Speaker Pelosi and the Democratic Party as a whole under their leadership, will have a great place in future US economic history as having dragged the world's biggest economy to a self-imposed economic slow down.

1 comment:

Toronto real estate said...

Interesting to see the US discussion. Even the Greenpeace are against this bill - unbelievable! It's not enough for those seeking some real change (this bill proposes cuts only from 2026!), but its too much for its protesters (most of the country according to the polls).

What would they do if the US bill actually followed the recommendation of the UN?

Take care,