On July 5th CA Freshman Congressman Tom McClintock addressed the House passage of Cap and Trade. Towards the end of his remarks you will hear Tom say: “Mr. Speaker. This House has just made the biggest economist mistake since the days of Herbert Hoover.”
Prior to that closing comment Tom shared the negative impact of AB 32 in California citing its impact on an electricity contract in the city of Truckee. AB 32 was to create “green” related jobs but, at the end of the day, it will have a negative and costly impact to each of us.
In his remarks, which you can watch at the clip provided below, Tom states:
“Mr. Speaker, the Cap and Trade Bill proposes what amounts to endlessly increasing taxes on any enterprise that produces CO2 or other so called greenhouse gas. We need to understand exactly what it means. It has profound implications for agriculture, construction, cargo and passenger transportation, baking and brewing, all of which produce enormous quantities of this innocuous and ubiquitous compound. In fact every human being produces 2.2 pounds of CO2 every day just by breathing.”
http://libertarianrepublican.blogspot.com/2009/07/cong-tom-mcclintock-speech-on-house.html
Hmm. Someone please do the math. We have 37 million living in CA now. Projections have our population increasing to 50 million by 2032. That being said, what impact will those new residents have on the CO2 levels?
Using Tom’s remarks 13 million NEW occupants would generate 28.8 million pounds of carbon dioxide EVERY day.
Please. Stay where you are. Meeting the requirements of AB 32 is tough enough and we haven’t seen anything yet.
Larry,
A related (albeit broad) article appears in last months Rolling Stone.
In an excellent article Matt Tabbi talks of the coming bubble in carbon credits, and those behind it.
It can be seen at: http://www.rollingstone.com/politics/story/28816321/the_great_american_bubble_machine
To the common man, if you can get a Goldman Sachs account. BUY CARBON CREDITS!