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The farce of cap-and-tax revealed

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By Michelle Malkin  •  July 9, 2009 10:27 AM

From Sen. James Inhofe:

What does it mean? The truth about the cap-and-trade farce revealed:

During a hearing today in the Senate Environment and Public Works Committee, EPA Administrator Jackson confirmed an EPA analysis showing that unilateral U.S. action to reduce greenhouse gas emissions would have no effect on climate. Moreover, when presented with an EPA chart depicting that outcome, Energy Secretary Steven Chu said he disagreed with EPA’s analysis.

“I believe the central parts of the [EPA] chart are that U.S. action alone will not impact world CO2 levels,” Administrator Jackson said.

Sen. James Inhofe (R-Okla.) presented the chart to both Jackson and Secretary Chu, which shows that meaningful emissions reductions cannot occur without aggressive action by China, India, and other developing countries. “I am encouraged that Administrator Jackson agrees that unilateral action by the U.S. will be all cost for no climate gain,” Sen. Inhofe said. “With China and India recently issuing statements of defiant opposition to mandatory emissions controls, acting alone through the job-killing Waxman-Markey bill would impose severe economic burdens on American consumers, businesses, and families, all without any impact on climate.”

Send this to the GOP cap-and-tax 8 and the Democrat cap-and-tax fence-sitters.

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More from The Foundry.

Will Sen. Robert Byrd stand by his opposition to Waxman-Markey — or will he trade his vote for more payoffs?

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More farce revealed at the G8 summit: You go first. No, you

Developing nations led by China and India refused Wednesday to back lofty but long-term targets proposed by the Group of 8 industrial nations to cut greenhouse gas emissions, balking at reluctance by leaders of the world’s biggest economies to move more quickly on their own.

Inability to bridge the gap between rising carbon-emitting countries such as China and the longtime polluters within the G-8 underscores the steep challenges involved in attempting to strike a comprehensive bargain to contain global warming.

The impasse comes down to the politically sensitive issue of who goes first.

President Obama and his counterparts in the G-8, who are holding two days of meetings in the central Italian mountain town of L’Aquila, offered broad agreements to reduce greenhouse gas emissions by 2050. The statement pledged to slash global emissions by 50%, led by reductions of 80% by the G-8 countries.

They also prepared to offer new financial incentives for developing nations to join the effort.

But the G-8 stopped well short of pledging to take aggressive action that could curb emissions more quickly — at the cost of higher energy prices and a feared worsening of the global economy.

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