The Insane Waxman-Markey Climate Bill

Yesterday, unfortunately, the House passed the Waxman-Markey climate bill, 219 votes to 212. If this bill becomes law it will cost trillions of dollars to the economy over time and have almost NO impact on global warming.

Britain has a similar cap and trade law that has been in effect only a few years and is already costing the average household $1,300 per year. Despite all the Waxman-Markey bill will cost the economy, it will only reduce global temperature in 2050 by a mere 0.05°C according to Chip Knappenberger, administrator of the World Climate Report. This bill does so little that even some environmental groups such as Greenpeace did not endorse it.

The most costly and onerous regulations of this bill do not even go into effect till after 2020. This is a brilliant political move on the part of Obama and the congressional Democrats because they will be long gone from political office by the time the must austere measures of the bill go into effect. It is also likely that some of the more conservative Democrats were offered billions in spending projects for their districts if they voted for the bill so they could “bribe” their constituents into reelecting them even after voting for this detestable legislation.

Despite all the politicking and behind the scenes dealing, this is a bill that all good liberals (and I would add conservatives and libertarians) should oppose. It does practically nothing to solve the global warming problem, yet it will cost trillions, not to mention the fact that this bill will be a huge regressive tax on the poor and middle classes.

We need real solutions; this bill is not a solution but insanity. The United States consumes a gargantuan amount of energy, mainly from fossil fuels. The truth is it will take a huge technological breakthrough to replace fossil fuels. It is time for Congress to get real and face the truth!