California’s “cap and tax”
While President Obama spent time Wednesday using the BP oil spill to bash Repubicans, he thought it also a good idea to use the oil spill to once again promote Cap and Trade. But, you might find interesting what is happening in California…the “leader” in “clean energy” legislation.
California passed it’s version of Cap and Trade in 2007. Quick to react, the state’s auditing agency (California’s equivalent of the CBO) recently released it’s study of the effects of the California law.
California’s economy at large will likely be adversely affected in the near term by implementing climate-related policies that are not adopted elsewhere. While the long-term economic costs are unknown, [the law] will raise energy prices, causing the prices of goods and services to rise; lowering business profits and reducing production, income and jobs…Yes, some new ‘green jobs’ will be created. But the net economywide impact…will in all likelihood be negative.
California has attempted to get other Western states to pass similar laws (no doubt fearing the exodus of California businesses to neighboring states), but, so far, Arizona, Montana, Oregon, Utah and Washington have politely declined.
But, there is hope that sanity will prevail. On November’s ballot in California there is an initiative to “suspend” the law until the state”s unemployment drops to 5.5%. Given that it is now at 12.6%, should the initiative pass, it would appear that California’s cap and tax will remain dormant for quite some time.
Just as the Democrats refused to acknowledge the Massachusetts experience with that state”s version of Obamacare, I’m guessing, randomly, of course, that they also will refuse to acknowledge California’s plight with “clean energy”.
But, from Obama’s perspective, the BP oil spill is simply one more “good crisis” that Obama simply will not let go to waste.
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Thanks, This is the first I have heard about this. What I fear is the bozos in CT's General Assembly will think this is a good idea!
Isn't it amazing that when a liberal/socialist/Marxist/communist has a truly bad idea, one that practically destroys whatever country it is practiced in, there is always another crackpot lefty that crawls out of the woodwork and thinks they can do it better and make it work?
Isn't the definition of insanity doing the same thing repeatedly and expecting different results? I guess Michael Savage is right: liberalism is a mental disorder.
As far as I'm concerned, AZ should roll out the red carpet to those California businesses who adopt the "RUN, FORREST, RUN!!!" strategy. It would be poetry in motion, wouldn't it?
While California cannot interest its neighbors in adoption of this crackpot legislation, it seems ironic that there are other states who are very interested in the AZ governor's immigration legislation…not just UT & AZ, but TX, MD, OH, & GA).
I also find it interesting that before what happened in the Gulf of Mexico, Obama was speaking of off-shore drilling and is now going all algore environmentalist (closing the barn door after the horse is long gone)….after sitting on his butt for as long as he did, showing no leadership whatsoever…Never plugging the hole…
we are at the tipping point//any more increases in living cost may just do it???
in mass they just doubled my truck registration—so now i took 2 other vehicles off the road..raise taxes get less back…seems pretty simple to me??