The Financial Crisis is Here, Now, the Global Warming Crisis…

In today’s Hartford Courant, an op-ed by David Ridenour of the National Center for Public Policy Research, “Green Mandates Burden Economy“:

When our economic bus is teetering at the edge of a cliff, it’s a bad time to throw on some extra weight.

Yet government-mandated restrictions on carbon emissions would do precisely that, adding enormous additional weight to an economy already reeling. This additional weight shouldn’t just be thrown from the bus — it should be thrown under it.

And from respected columnist Michael Barone, prognosticating on the political agenda under a possible Obama presidency and Democratic-controlled Congress, “Obama’s Wish List“:

Much of the next Congress’s time and psychic energy will be taken up with refashioning financial regulation — a subject of considerable difficulty. And the looming recession will make it politically risky for Democrats to push big spending programs.

This means that Congress in the next two years may not pass Obama’s national health-insurance plan. The weakening economy and the enraged reaction earlier this year to $4-a-gallon gasoline also make it less likely that Congress will pass carbon reduction legislation — certainly not a carbon tax and probably not a cap-and-trade system.

Perhaps we get a test of the theory — economic reality winning against environmental mongering — in Tuesday’s California election, specifically Proposition 10, which authorizes sale of $5 billion in bonds to finance rebates for buying alternative-fuel vehicles and research into renewable fuels. From The LosAngeles Daily News, “Bond measures facing hard sell in time of economic crisis“:

Backers say 10 would help reduce California’s greenhouse-gas emissions blamed for global warming, improve air quality and jump-start the market for alternative-fuel vehicles.

But opponents say the state can’t afford the bond measure, which would eventually cost $9.8 billion, or about $325 million annually, over 30 years.

Afterthought: Come to think of it, California probably couldn’t afford it, even if there weren’t any financial crisis.

UPDATE (1 p.m.): Should have thought to check on California’s ongoing budget collapse. From

Oct. 31 , 2008
The Governor announced this week that he will call the Legislature to a Special Session to address the state’s fast growing deficit.  Estimates of the shortfall for this year has grown from $3 billion to $10 billion or more as the state brings in lower than expected tax revenues and experiences higher costs due to the continued slide of the global economy.

You would think that a $10 billion deficit would put a crimp on social engineering, but it’s California.

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