As long as it doesn’t seriously damage our economy, who cares? the less oil we use for energy the better. That stuff is more valuable as chemical feedstock anyhow. Build a hundred nuke plants I say.
I agree with the nuke part, but the nukes will not materialize in necessary capacity, not until blackouts happen despite thousands of windmills and PV cells. By then it will be 10 years too late.
I disagree about "who cares". It will hurt the economy. Cap and Trade will limit our ability to find and use our own fossil fuels (oil, coal, and NG included). There is nothing like entering an economic fight against third world and communist countries with both hands tied behind your back while they are not similarly restrained.
And if it does do serious damage, should we care?
The Congressional Budget Office says current cap-and-trade legislation would amount to a $1.2 TRILLION tax hike on the American economy over the next ten years.
Pssst! This is the biggest wealth distribution scheme ever concocted!
As long as your wife doesn’t get pregnant, who cares if she screws around?
Got your attention?
This will seriously damage our economy.
You cannot pull trillions of dollars out of the free market system and have zero output increase without causing serious damage.