Cap-and-Trade: Cap the Economy, Trade the Jobs

By May 2, 2008Energy, Global Warming

From Medill Reports (i.e., Northwestern’s graduate school of journalism), a thorough story on the costs of climate-change legislation and regulation, “Manufacturers blast new climate bill.”

While proponents of the America’s Climate Security Act, or Lieberman-Warner bill, have said trades and auctions of pollution allowances would minimize costs, manufacturing officials contend the legislation would inflate energy prices and operating costs, crimping demand at home and making U.S. companies less competitive overseas.

“You’re going to have prices driven up dramatically,” said Keith McCoy, a spokesman for the National Association of Manufacturers in Washington, D.C. “With these short timelines, coal-based utilities will have to switch to natural gas. That’s a very valuable commodity for manufacturers, and the price will get bumped up.”

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