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CAP AND TRADE

As indicated from this Report, the clear results from this counterproductive proposal would be :
Many lost jobs in America, a less competitive American economy, higher electricity and fuel costs for families and businesses, and a lower quality of life for virtually every working America family. – George Allen

Read the study by clicking here.

Latest update: June 30, 2010

Paying for the American Power Act: An Economic and Distributional Analysis of the Kerry-Lieberman Cap-and-Trade Bill (PDF)

The household cost of Kerry-Leiberman’s “American Power Act” would range between $987 per year in the South and $1174 in the North. The highest costs are paid by families with children, in particular, the highest burden is borne by single parents with children.

The American Power Act is a very regressive carbon tax. With national unemployment figures hovering around 10 percent and a struggling economy that is threatening America’s competitiveness in the global market, it is ludicrous to impose these costs upon American families at this time or at anytime in the future.

– George Allen, Chairman, AEFC

Cap and Trade Primer: Eight reasons why cap and trade harms the economy and reduces jobs

The most popular way to regulate carbon dioxide emissions is through a cap and trade program, yet these proposals are very, very costly and economically damaging. If enacted, last year’s flagship cap and trade proposal, the Lieberman-Warner bill, would increase the cost of gasoline by anywhere from 60 percent to 144 percent and increase the cost of electricity by 77 to 129 percent.

This study explains eight reasons why cap and trade will cause many economic problems, with very limited effects on the environment.

Click here for the full study

Impact on the Economy of the American Clean Energy and Security Act of 2009

The National Black Chamber of Commerce (NBCC) released a new study that determines the potential economic impacts of the federal cap-and-trade system outlined in the bill. Compiled by CRA International, the analysis determines that by 2030 the law would:

  • Reduce national GDP roughly $350 billon below the baseline level;
  • Cut net employment by 2.5 million jobs (even after accounting for new “green” jobs); and
  • Reduce earnings for the average U.S. worker by $390 per year.

NBCC President and CEO Harry Alford notes, “These findings add to a growing body of evidence that demonstrates cap-and-trade would make American consumers poorer and the products they buy more expensive.

“Moreover, the NBCC study finds there will be little, if any, environmental impact to justify the high price U.S. families will have to pay, since the trading system will deliver virtually negligible changes in global CO2 emissions so long as developing nations such as China and India don’t buy in.

“The House cap-and-trade bill seems to profit special interests at the expense of small businesses and hard-working families. It’s evident from the some 85 percent of emissions permits that politicians have already given away for free to favored industries that the 111th Congress is learning that producing laws (like making sausages) requires a lot of pork.

“The inherent complexity of a government-regulated emissions trading system sets the stage for a perpetual struggle for political handouts. This makes Waxman-Markey a good way to promote corruption, but not energy efficiency.”

Click here to read the full analysis

Son of Waxman-Markey: More Politics Makes for a More Costly Bill (Heritage)

The Distribution of Revenues from a Cap-and-Trade Program for CO Emissions (Congressional Budget Office)

Assessment of U.S. Cap and Trade Proposals (MIT)

Read IER economist Robert Murphy’s analysis of the MIT cap and trade study here.

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  1. Jeri Turley-Pennybaker says:

    I think Al Gore needs to invest in some really speedy running shoes! I keep wondering if he can be prosecuted for perpetrating a fraud upon the American people. He’s a liar. I’m sick about the damage he has done to how Americans are viewed in the world.

    I favor former Governor Palin’s energy ideas. Clean coal, natural gas and start drilling for oil of our own. And certainly the United States of America owes NO ONE money for the agreements drawn up in Copenhagen. I did not agree to this use of tax dollars. Who did Obama think he was up there promising away our dollars for unsubstantiated carbon footprints. Here’s a footprint up your behind sir.

  2. Audri DeBsrr says:

    Drill Baby Drill.

  3. jr says:

    Grief – we are being scared over every little
    thing from Tsunami, schools lock down, climate, ’severe’ weather every time it rains
    This is manipulation city. Yet we hear little
    about the real problems- like why health costs go up and up but nobody explains what the causes are. Or why the Credit Default Swap market increased by 500 times in 10 years.
    Also, for intermittent energy – it might make
    more sense to bring the work to where the
    windmills are than trying to connect them to
    the grid, and ditto for solar.

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