Posted on 10/15/2009 4:28:59 PM PDT by Son House
Speaking before the Senate energy panel Oct. 14, the head of the Congressional Budget Office said that the cap-and-trade system included in the House bill would slow domestic economic growth slightly over the next few decades.
By 2020, the nation’s gross domestic product may be off 0.25 to 0.75 percent, and by 1-3.5 percent by 2050, said CBO Director Douglas Elmendorf.
Elmendorf noted that his estimates involve uncertainties and “do not include any benefits from averting climate change,” reports the Washington Post.
President Obama and congressional Democratic leaders, by contrast, have said that a cap on carbon emissions would boost the economy by providing new jobs in the cleantech sector, as well as economic growth from related cleantech exports.
Elmendorf said that, while new jobs would be created, there would significant disruption due to people in fossil-fuel based sectors losing their jobs.
Pointing out what would be the matter with Kansas with regard to cap-and-trade, Sen. Sam Brownback (R-Kan.) said his state would likely face higher energy prices under the system.
“While we’re projecting these things, people are having to deal with their basic lives on it, and this is going to be very expensive,” Brownback said.
In response, Elmendorf noted that failure to address climate change could impose other costs on Kansas, such as by harming agriculture output.
In all, Elmendorf called the economic downside to the house bill “comparitively modest.”
CBO Director: There are Costs Involved with Cap and Trade
http://blog.heritage.org/2009/10/15/cbo-director-there-are-costs-involved-with-cap-and-trade/
Some of the channels mentioned the CBO director’s testimony include: shifting production, investment, and employment away from lower cost carbon-based energy industries and carbon energy-intensive goods and services towards higher cost alternatives; reducing productivity of existing capital and labor, reducing household income, discouraging investment both domestically and from international sources, and reducing employment and workers’ real wages.
Elmendorf made a commonly held assertion that because the economy in 2050 will be twice the size it is today, foregoing 3% of our potential GDP is modest.
The Republicans are once again falling into the trap of letting the Democrats dictate the parameters of the argument.
They are then left to argue pointless issues like “it costs too much” etc.
Republicans should be refuting point blank, the fallacies of the AGW agenda instead of who gets what chair on the Titanic.
Only slightly? Surely, they cannot be serious.
7 Reasons China Will Lead the Global Economic Recovery
http://www.moneymorning.com/2009/10/15/chinal-economic-recovery/
1. Incredible GPD Growth Driving Returns
On July 15, 2009, China’s National Statistics Bureau affirmed what we’ve expected all along. China’s 2nd quarter GDP came in at an impressive 7.9%.
2. China Can Stimulate Its Economy Without Going into Debt
While the U.S. has had to print trillions of dollars to attempt to stimulate its economy, China’s story is much different. With $2.3 trillion dollars in reserves, China has been able to strategically stimulate their economy -without having to deficit-spend to do it.
7. Global GDP Growth is Shifting East
As the global markets begin to mend themselves we will see global GDP share move from the west to Asia – led by China. The U.S., Canada, and Europe will only account for 49.4% of global economic output in ‘09, according to the Center for Economics and Business Research. Not only that, Western economies will decline to just 45% of global economic activity by 2012 – far ahead of the original estimates that predicted the West wouldn’t fall below 50% until 2015.
I think he needs to brush up on his basic sciences. Decreasing carbon in the atmoshpere will also decrease plant life. In the past, carbon at higher levels has increased plant diversity on this planet. Diminishing carbon will be a detriment to farmers and life.
Cap’n’trade is a money launderer’s dream, and it puts the federal commissar in the middle of every decision you make from the top right down to the least thing you do in the course of your day.
Pass Cap’n’trade and freedom as you know it, even the anemic tasteless diluted freedom you’ve had to become accustomed to, will be gone.
There isn’t anything outside the reach of the carbon czar. Every decision about energy is his, and there isn’t much you do that doesn’t involve energy or something made with energy. Want to have kids? They’re already talking about the carbon footprint of “allowing” people to have children.
We will be empowering people who produce nothing, and empowering them with unlimited power, because once you’ve accept the logic of Cap’n’trade there is no limitation left on whatever scheme they dream up. Think the Bill of Rights protects you? Not when you leap-frogged right past it when you enacted carbon controls.
The suits will decide everything you do, and the suits behind the suits, the ones who get to print up the credits and swap them back and forth, will take a cut of everything you do. You’ll have no way of controlling it or even proving it as money is funnelled into the pockets of guys like Soros and guys like him.
We just went through the Fannie Mae debacle, where paper of uncertain value was traded until it collapsed. Cap’n’trade is printing money out of thin air, and by force of law you make good on it. Its a money machine, and your masters will control it.
1 word:
COAL
Cap and Trade will put me out of business here in the states ...
I need $50,000 to build chicken coops so I can get a contract raising birds for a major food producer (in Asia) ... have all necessary farmland , short on cash , will pay BIG interest, I’ll have the company I’m contracting with split the payouts 75/25 until you’re whole+25% ,,, seriously .. no joke!! somebody loan me the money so I can get my family out of this madhouse .. there’s nothing much left that I care about here.
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