The Real Cost of Cap and Trade
Posted by The Diatribe Guy on September 16, 2009
There is a lot of stuff flying around for and against the Cap-n-Trade Scheme that dares to lurk as a possibility for enactment. So, what do the internal goverment memos say about it? I’ve heard it won’t really cost anything. And it’s green. If it’s green, it must be good, right? Yeah. We like green. Go into a store now and you’ll find green everything. It’s green because batteries last 10% longer, or because it used 5% less energy. It’s green because it’s made with 10% recycled plastic. We just moved into a new corproate office not long ago, and I’m pleased to let everyone know that it’s green. Ironically, they damn A/C is always on too high, and I’m one of the few who seems to think it’s a waste of energy, even though I’m not really a “greenie” because I don’t buy into global warming.
But I digress.
In a Washington Times article we get the scoop, thanks to the Freedom of Information Act:
Officials at the Treasury Department think cap-and-trade legislation would cost taxpayers hundreds of billion in taxes, according to internal documents circulated within the agency and provided to The Washington Times.
Huh. Go figure. Who’d have thought that this might actually cost us money?
But that’s OK, because the government is probably really concerned about the transfer of funds from people to government. Ha! I slay myself sometimes. They’re practically salivating at the prospect:
A memo prepared by Judson Jaffe, who works in the Treasury’s Office of Environment and Energy, referenced President Obama’s remarks on energy policy in his State of the Union Address and said, given the president’s plan to auction emissions allowances, “a cap-and-trade program could generate federal receipts on the order of $100 to $200 billion annually.”
And I’m sure that they’re letting us know everything. You know, the most ethical and transparent government we’ve ever had? Yeah… not so much.
Other cost estimates and “key challenges” laid out in Mr. Jaffe’s memo were redacted. Mr. Horner said he intends to litigate against the department in order to have that material released.
And just when you think the world has maxed out on dumb ideas:
One unsigned memo titled “carbon market oversight issues” distributed during the transition period between the Bush and the Obama administrations proposed the creation of a “Carbon Fed” to manage carbon allowances in a way similar to the way the Federal Reserve regulates the supply of money.
A Carbon Fed? If I weren’t a family-friendly blog, I may just type a three letter acronym as my most intelligent response, where W and T are the first two letters. Beyond that, it’s such a dumb idea that I don’t even have a good response.