Earth Day Update: Cap and Trade’s $3,900 per Family per Year Price Tag

Conn Carroll / April 22, 2009

The Weekly Standard has done yeoman’s work exposing the insane logic of an MIT professor, the St. Petersburg Times, and the Center for American Progress.

The controversy centers around a study by MIT professor John Reilly that shows a carbon cap and trade would cost the average American household $3,9000 a year. $800 of that figure comes from, according to Reilly, “the cost to the economy [that] involves all those actions people have to take to reduce their use of fossil fuels or find ways to use them without releasing [Green House Gases].” No one disputes that $800 a year cost. It’s the other $3,100 that Reilly, the St.Pete Times, and CAP want to disappear. (more…)