Appearing yesterday on MSNBCâ€™s Morning Joe program, Democrat Rep. Henry Waxman, Chairman of theÂ House Energy and Commerce Committee, told Joe Scarborough that his (Waxman’s) proposed cap-and-trade legislation (known officially as the Waxman-Markey â€œAmerican Clean Energy and Security Actâ€)Â is vitally necessary because â€œwe cannot survive with the kind of carbon input that has led to global warming and climate change.â€
Cap-and-trade essentially establishes an economy-wide cap on carbon emissions and then permits companies to buy or sell emission credits among themselves. TheÂ ultimate result is carbon rationing that will, in the end, impose additional costs ranging fromÂ $1,870 to $6,970 per year on every American household.
But Waxman, intent on fighting his ostensibly noble crusade at any cost, is undeterred.
The congressman was asked to address theÂ obvious fact that cap-and-trade cannot possibly work if China and India refuse to subject their own rapidly growing economies to its oppressive mandates, and that both of those nations already haveÂ (wisely) indicated that they have no interest in participating in such a worthless scheme. Waxmanâ€™s pathetic reply amounted to nothing more than a string of wishful fantasies andÂ empty platitudes:
- â€œThe United States has to work with the international community because global warming is not a problem that weâ€™re going to solve alone. Were going to need the rest of the world to be with us.â€
- â€œIf we show leadership on this issue,â€¦. other countries are going to recognize that they cant be left behind. Theyâ€™re going to be with us.â€
- â€œ[India and China] realize that they have to go along [with us]. They want to be part of this effort. Theyâ€™re using that argument [that they oppose cap-and-trade for economic reasons] rhetorically and weâ€™ve got to challenge it.â€
- â€œWe have to say to [India and China], weâ€™re going to be the leaders. Weâ€™re going to work on technology. Work with us.â€
In short, Waxmanâ€™s approach is a mirror image of President Obamaâ€™s approach: Like good community organizers, they look upon those who disagree with themÂ as a pack of benighted imbeciles who can be enlightened only by the intervention of environmentally conscious leftists.
A Heritage Foundation report points out that Waxman-Markey, if pursued unilaterally by the United States, â€œwould moderate temperatures by only hundredths of a degree in 2050 and no more than two-tenths of a degree at the end of the century.â€ In other words,Â the billÂ would suck trillions of dollars out of the U.S. economy in exchange for a benefit so smallÂ as to beâ€”even in a best-case scenarioâ€”wholly imperceptible.
Says the same report:
â€œA multilateral approachÂ would not fare much better. In the case of international cooperation, India, China, and the rest of the developing world would have to revert to their 2000 levels of CO2 emissions by 2050. On a per-capita basis, China would backtrack to about one-tenth of what the U.S. emitted in 2000. India and most of the developing world would have to drop to even lower levels. This scenario, in addition to being highly unlikely, would de-develop the developing world.â€
Yet none of this matters to those whoÂ clamor for cap-and-tradeâ€”Democrat luminaries likeÂ Henry Waxman, Barack Obama, and House Speaker Nancy Pelosi.Â Animated by an insatiable thirst for power, these political zealots cannot wait toÂ foist their scheme upon the American people for one overriding reason:Â because of the immense revenues it could raiseâ€”albeit underÂ the mostÂ fraudulent of pretensesâ€”to fund their dream of an ever-more-expansive and omnipotent federal government.