Free Republic

A new study of the potential impact of the climate-friendly Waxman-Markey (W/M) Bill on manufacturing, jobs, energy prices and overall economy concludes that its enactment would have strong negative consequences — including reducing economic growth by 2.4 percent and costing 2 million jobs by 2030, according to a report in The Hill. The study sponsored by the National Association of Manufacturers (NAM) and the American Council for Capital Formation (ACCF) analyzes W/M under low- and high-cost cases with respect to a baseline that projects the future in the absence of the bill. W/M sets targets that would reduce green house...

While all of the attention lately has been paid to Obamacare it is important to note that Cap and Trade is not dead, but of course it should be. Today The National Association of Manufacturers (NAM) and the American Council for Capital Formation (ACCF) unveiled a comprehensive study on the impact of The American Clean Energy and Security Act of 2009, also known as the Waxman-Markey Bill (HR 2454) or Cap and Tax. As a reminder the bill passed the House of Representatives by a slim margin (219-212) earlier this summer without reading it. And the Senate is expected to...

Cap-And-Trade: The administration likes to defend bad policies with analogies to the post office. New studies from a business group and the administration itself confirm that cap-and-trade belongs in the dead-letter bin.Along with Energy Secretary Steven Chu, Rep. Ed Markey likens the cost of the Waxman-Markey cap-and trade bill to "about a postage stamp a day," based on estimates made by the Congressional Budget Office and the EPA. But as we and others have shown, they arrive at this magical number in part by ignoring the hit on gross domestic product and employment that will occur. As Garret Vaughan, economist...

Fiscal Policy: President Obama sends his emissaries to Congress to explain why an economy-killing tax on energy — a tax all Americans will pay in all aspects of their lives — is necessary to save the Earth....The problem is that capping emissions based on dubious climate science will also kill hopes for a rapid economic recovery. Any good that comes from the stimulus package will be wiped out by this energy tax that will be passed on to every consumer through everything we produce and consume. Money that could be spent on creating jobs will be wasted trying to save...