What’s the rush with “Cap and trade”?

This is what I was asking myself while en route to the mountains last weekend. The news was on the radio and the normal discussions were going on in regard to all things political. Currently, Legislation is being developed regarding “Cap and trade”Let’s take a look at it.

“Cap and trade” refers the Waxman-Markey legislation that, If passed into law, Each large-scale emitter, or company, will have a limit on the amount of greenhouse gas that it can emit. The firm must have an “emissions permit” for every ton of carbon dioxide it releases into the atmosphere. These permits set an enforceable limit, or cap, on the amount of greenhouse gas pollution that the company is allowed to emit. Now as far as the “Trade” It will be relatively cheaper or easier for some companies to reduce their emissions below their required limit than others. These more efficient companies, who emit less than their allowance, can sell their extra permits to companies that are not able to make reductions as easily.
OK. Very noble as I am up here with my laptop gazing at a Bass filled Lake. However, Is this an emergency? In my view, No it is not. There can be no doubt that this is going to raise energy prices and damage the already battered economy. Current estimates by the Non Partisan Congressional budget office suggest a price in the range of $872.8 Billion to $885 Billion for the years between 2010 and 2019. Others say it is going to be far higher. This bill will be charged to the energy user, Do not be fooled by anyone suggesting otherwise. In addition, This money will come directly out of the economy reducing peoples ability to spend more. There are those that suggest that our dependency of foreign oil will even increase! Adding to this, Nobody that signed on this in the House of Representatives even read it before the vote! The purpose of this legislation is to basically address the emergency of “Global Warming” now called “Climate change”.  But does Global warming even exist? There are many skeptics who say that it does not. There are many that suggest that it does. Perhaps we as a nation should first do studies with ALL the experts except for only the ones that support this legislation. Add to that that I want to know how many backers of this stand to make money off this Bill passing and I don’t mean just Nancy Pelosi and Al Gore. I want names because I personally don’t buy it. But let’s assume I am wrong. What is the rush in passing something so large and profound? Should we not take our time and get it right the first time? And what if some of the critics are right in that we are heading for a cooling trend? I am all for cleaning up the evironemnt as much as possible. But I don’t think we should wreck our economy in the process.

What’s the rush?

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