The Democrat controlled House of Reps is getting set to do Capn’ Trade. This is a bad idea.
There are several reasons why. First of all-projections of Catastrophic Global Warming that are the basis for the “danger” of not acting on Climate are failing miserably. There has been no warming of the lower atmosphere for over twelve years now:
Even supposing the model scenarios do by some miracle turn out to be correct, the bill in question would avert only a tiny fraction of future warming-on the order of .1 degrees Celsius. Making a dent would require much more effort-especially on the part of other countries and in particular those who seem keen to refuse such restrictions. What’s more, because of the possibility of “leakage” the authors of the bill seem prepared to risk (trade) war.
Waxman-Markey is just a really bad policy move. For all the lack of benefits, it will have enormous costs. What is the point of diverting such enormous resources from other things to make a tiny impact on a non existant problem? If AGW really is a problem, then the only sensible course should be obvious-get rich now, adapt, and maybe do this crap later. It certainly doesn’t make any sense to due it now, when the economy is flirting with stabilization but still really hurting. We sure as hell shouldn’t take away people’s freedom to use whatever energy source they wish anyway.
UPDATE: It’s even worse than I thought.