|To the Editor: 'Cap and Trade' bill will force jobs elsewhere|
|Written by Dick Conrad|
|Wednesday, 14 October 2009 07:35|
American Clean Energy and Security Act H.R. 2454 (Waxman-Markey) is rapidly moving through Congress. It was passed by the House by a very close margin. It must now be passed by the Senate. The American Clean Energy and Security Act is also know as "Cap and Trade."
Cap and Trade is where a central authority (usually the federal government) sets a limit or cap on the amount of a pollutant that can be emitted by a company. These companies or other groups (like farmers) are issued emission permits and are required to hold an equivalent number of allowances (or credits) which represent the right to emit a specific amount of emissions. The total amount of allowances and credits cannot exceed the cap, limiting total emissions for the entire United States to that level. Companies that need to increase their emissions must buy credits from those companies or groups who have not exceeded their credits. Thereby comes the name "Cap and Trade." In effect, the buyer is paying a charge for polluting, while the seller is being rewarded for having reduced emissions below their cap. So far, everything sounds great. I might add that if the available credits are limited, the price that companies and groups (farmers) have to pay will go up (supply and demand)). Also, these credits will be traded on a special market by authorized brokers, who will get their cut by charging higher fees.
Therefore, pollution goes down, but the cost for most manufacturing, farming and power companies (electric) goes up. By how much - no one knows, but they will go up. This also means that the price that you pay for electricity and other products will also go up.
The American Clean Energy and Security Act will force manufacturing and other industries to move to other countries where their cost is lower. Did I mention that Mexico, India and Chine have not agreed to any reduced pollution laws? Therefore, many of our manufacturing and other industries will accelerate their moves to Mexico, India and China. Don't we already have a problem with our industry moving to Mexico, India and China?
In addition to reduced pollution, there are other benefits to this law.
First, it will solve our illegal immigrant problem. All the illegal immigrants will gladly move back to Mexico, where the good jobs are.
Second, it will eliminate the need for the "Union Card Check" legislation. No jobs, no need for unions.
In summary, with Cap and Trade, the U.S. will have the cleanest air in the world. Many companies will move their manufacturing to Mexico, India and China which do not have Cap and Trade laws. Unemployment will go through the roof. Those companies that cannot move (like electric power companies) will be forced to double or triple their rates, therefore increasing your electrical costs.
Change you can believe in!
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