This week from Americans for Prosperity –

“Cap-and-trade is a way to impose a massive energy tax and pretend it’s not a tax. It puts a cap on overall greenhouse gas emissions, and establishes a market for companies to buy and sell the permits. In Obama’s version, the permits would all be auctioned off and the hundreds of billions of dollars would be used to fund higher government spending.”


”The so-called cap-and-trade energy tax would, according to the president himself, force energy prices to go way up. In an unguarded moment, speaking to The San Francisco Chronicle last year, Obama said: “Under my plan of a cap and trade system, electricity rates would necessarily skyrocket… they would have to retrofit their operations. That will cost money. They will pass that money on to consumers.”

”And what do we buy, environmentally, with this enormous hit to the economy? Basically, nothing. Cap and trade is already failing to reduce emissions in Europe. And even if emissions targets are met, climate models show that the reductions would have no detectable impact on global average temperatures. That’s why leading climate alarmists have hailed a Kyoto-style cap-and-trade regime as just the first step of 30 to curb global economic activity. There’s never a good time to embark down such a path, but it seems particularly hare-brained during an economic crisis.”