Cost Free Cap and Trade
Speaker Nancy Pelosi (D-CA) adds to a long series of comments by Democrats that emphasize cost as a crucial criterion for evaluating cap and trade legislation, and specifically, that there should be no costs:
“There should be no cost to the consumer,” House Speaker Nancy Pelosi (D., Calif.) said Wednesday. She vowed the legislation would “make good on that” pledge.
Of course, cost-free cap and trade defeats the purpose of cap and trade which is to raise the costs of energy, as explained to Congress by Robert Greenstein, of the non-profit Center on Budget and Policy Priorities:
Fighting global warming requires policies that significantly restrict greenhouse gas emissions. The most cost-effective ways to do that are to tax emissions directly or to put in place a “cap-and-trade” system. Either one will significantly raise the price of fossil-fuel energy products — from home energy and gasoline to food and other goods and services with significant energy inputs. Those higher prices create incentives for energy efficiency and the development and increased use of clean energy sources. But they will also put a squeeze on consumers’ budgets, and low- and moderate income consumers will feel the squeeze most acutely.