ON CAP AND TRADE

From The Heritage Foundation:

Our Center for Data Analysis is finishing a study on the economic impacts of the proposed energy tax currently being considered by Congress, aka “Cap and Trade” legislation, and the preliminary results are in:

• It would shrink the national economy by $7.4 trillion by 2035.
• It would eliminate millions of jobs without replacing them with so-called “green jobs.”
• It would increase your electricity bill by 90% and your gasoline prices by 74%, so that the average household energy bill would increase by $1,500 per year.
• And, even if you accept all the science from the International Panel on Climate Change, the legislation would only lower the temperature by .1-.2 degrees C by 2100. Put another way, this legislation is all economic pain for NO environmental gain.