Cap and Trade slowly returning from the dead

(Note: this entry was drafted on March 18.)

Another component of the Obama Trifecta that the Democrats are not giving up on is Cap and Trade. It’s as though the revelations of the last five months never happened. Democratic senators led by John Kerry are moving forward, getting agreement from various players on provisions for a Senate version of the Cap and Trade bill. The story says the Senate’s version is different from the House’s. Yet it still has Washington set limits on the amount of emissions for each industry and company (the cap), with Washington designating how many “carbon credits” each company gets, so that companies which have used up all their carbon credits (or, rather, companies which are designated as having a number of credits that they have already used up) will need to pay other company for their unused credits. Meaning that companies favored by the government get lots of credits which they can sell to companies that are not favored by the government. Meaning a huge transfer of wealth from the left’s hit list to the left’s friends’ list. At the same time, each industry will be required over a period of decades to reduce its carbon emissions by greater and great amounts, finally reaching after 40 years an 80 percent reduction from 2005 levels. All this, to ward off a disaster which according to top climatologist and (apostate?) warming proponent Phil Jones does not appear to be occurring, since according to him global temperatures in the medieval period may well have been as warm or warmer than at present, so that the present warmth is no problem but is probably normal; and there is no significant data for global warming over the last 15 years. I guess none of the Democratic senators read a single article about the mistaken climate projections and the collapse of the global warming consensus since November. The march of the Undead goes on. They have their slogans, and that’s enough for them.

Posted by Lawrence Auster at March 23, 2010 10:06 AM | Send

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