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Climate Change Bill Could Cut Growth 7%

From those enemies of capitalism at Reuters:

One of the unbiased photographs our watchdog media is running with this story. The photo is of the Miami, Florida skyline. The “dark cloud” is a palm frond.

White House slams climate bill in Senate

Mon Jun 2, 2008

WASHINGTON (Reuters) – The White House on Monday slammed legislation the U.S. Senate will consider this week aimed at controlling climate change, arguing it would cut economic growth and lead to soaring gasoline prices.

“As you can imagine, our opposition to this will be quite strong and we’ll be making these points throughout the week,” Keith Hennessey, director of President George W. Bush’s National Economic Council, said at a White House forum on the economy and taxes.

U.S. gross domestic product could be reduced by as much as 7 percent in the year 2050 and gasoline prices — already at record highs in the United States– could soar by as much as 53 cents a gallon by 2030, he said.

The legislation the Senate will debate, which is not expected to become law this year amid a presidential election, could cut total U.S. global warming emissions by 66 percent by 2050, according to a summary of the measure.

U.S. greenhouse gas emissions would drop by about 2 percent per year between 2012 and 2050, based on 2005 emission levels, under the measure.

The bill would cap carbon emissions from 86 percent of U.S. facilities, and emissions from those would be 19 percent below current levels by 2020 and 71 percent below current levels by 2050, according to a summary of the bill’s details released by the Senate Environment and Public Works Committee…

Mind you, this bill is being pushed by the very same people who scream “recession” whenever US economic growth slows a few percentage points — under a Republican administration.

Of course Bill Clinton and other Democrats have already let it slip that this is exactly what they want.

As we noted back in January, our friend Jake Tapper reported:

Bill: “We Just Have to Slow Down Our Economy” to Fight Global Warming

January 31, 2008

Jake Tapper

Former President Bill Clinton was in Denver, Colorado, stumping for his wife yesterday.

In a long, and interesting speech, he characterized what the U.S. and other industrialized nations need to do to combat global warming this way: “We just have to slow down our economy and cut back our greenhouse gas emissions ’cause we have to save the planet for our grandchildren.”

It should be needless to say by this point that all of this nonsense of “global warming” is just the latest in a long line of assaults upon capitalism — indeed, against modernism. (Cf. Communism, Fascism, Nazism, Mohammedanism…)

And it is probably the most transparent and idiotic yet.

This article was posted by Steve on Monday, June 2nd, 2008. Comments are currently closed.

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