Next week, the Senate will vote on the Lieberman-Warner cap-and-trade climate control bill. The proposed statute is a nightmare that would devastate our economy. The Wall Street Journal calls it “the most extensive government reorganization of the American economy since the 1930s.”
The EPA estimates that by 2030 it will reduce GDP by 0.9% to 3.8%, and that is based on assumptions that appear hopelessly optimistic. Even the EPA’s assumptions contemplate an additional increase of 44% in the cost of electricity over what would occur without Lieberman-Warner.
There are opponents on the other side that claims the bill doesn’t go far enough. They claim that industrial polluters are being given too many credits in this bill.
Some of us believe that there is compelling evidence that, while we all want to keep the planet clean and healthy, man is not the source of global warming.
There should be more debate on this issue before we turn our economy upside down to pursue a policy that attempts to fix a problem that isn’t there.