Wednesday, February 25, 2009

Cap and Trade Already Killing California Jobs; EU Carbon Markets Collapsing

"But to truly transform our economy, protect our security and save our planet from the ravages of climate change, we need to ultimately make clean, renewable energy the profitable kind of energy. So I ask this Congress to send me legislation that places a market-based cap on carbon pollution and drives the production of more renewable energy in America."

--President Obama in his address to Congress 2/24/09

This echoes his pledge to Canada last week and it should be noted that the Department of Energy estimates "cap and trade" will cost up to $1 Trillion and up to $4 Million jobs lost.

He failed to mention what effect they would have on our nation’s economic recovery. Fortunately for the rest of the nation, but unfortunately for them, California has already adopted strict new carbon capping rules. The result? They are a jobs killer.

The New York Times reports:

Only a few years ago, CalPortland planned on keeping its plant here operating as long as Mount Slover’s limestone held out. … But the company says the plant’s future is now uncertain. The recession has sent cement prices plunging, lowered profits and forced CalPortland’s drivers to cut back on hours. And the company says it faces new expenses: the cost of meeting California’s new requirements that manufacturers take steps to curb emissions of carbon dioxide, the main heat-trapping gas linked to global warming.

State regulators have projected that retrofitting the state’s 11 cement plants would cost $220 million and reduce carbon dioxide emissions by 12 percent per ton of cement. But CalPortland’s executives say it would cost more than that to retrofit the Colton plant alone.

“We don’t have enough limestone left to invest $200 million,” said James A. Repman, the company’s president.

The Foundry at Heritage points out:

The key to this story are the completely unreliable cost predictions by the state. When the left tries to cram the world’s biggest carbon tax down the throats of the American public, they are going to have tons of “scientific” studies claiming to show that carbon capping will be a net gain for the economy. As California’s experience shows, these studies the left puts out are worthless.

All of the left’s “green job” claims are nothing but phantom job creation. Carbon capping is a jobs killer, not a jobs creator.

Hot Air points out that the European Union is finding similar negative results.

The EU has spent a lot of money rediscovering the laws of supply and demand in this recession. Instead of making carbon emissions a scarcity, the economic collapse has created a glut of indulgences.


Stumble Upon Toolbar submit to reddit

1 comment:

  1. Obama said we all have skin in his game,and he is going to skin us alive!