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Cap-and-trade global warming bill is a scam, experts say
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Two EPA lawyers criticized the cap-and-trade energy bill passed by the House as a scam, noting in the Washington Post that it will be manipulated to profit politically-connected corporations and reward certain kinds of pollution, while not cutting greenhouse gas emissions. A similar scheme enacted in Europe in the name of fighting global warming enriched polluters, and did not reduce emissions, which rose faster afterwards in Europe than in the U.S..
The Washington Examiner explains how the bill will lead to deforestation, and thus increase greenhouse gas emissions in the long run.
The bill, which is loaded with pork for special interests, is backed by Obama, who once admitted that under his cap-and-trade scheme, electricity and utility bills would "skyrocket" and coal-fed power plants would go "bankrupt." Treasury Department analysts estimated it could increase taxes on the average American household by $1761 per year.
The bill also contains environmentally-harmful provisions, such as massive ethanol subsidies, which will result in “damage to water supplies, soil health and air quality.” Ethanol subsidies have resulted in forests being destroyed in the Third World, and caused famines that have killed countless people in the world's poorest countries.
