The Benefits of Waxman-Markey
Conn Carroll /
Nothing. Zip. Zero. Zilch. There are no benefits for the American people in the Waxman-Markey energy tax bill. Whenever defenders of the free market point out how much an energy tax will cost the economy, the enviro-left always tries to change the subject to “the cost of inaction.” But here is the dirty little secret about Waxman-Markey: it does nothing to prevent global warming/climate change whatever you want to call it. And that is before House Democrats gutted the bill.
Climatologist Chip Knappenberger crunched the numbers and found:
A full implementation and adherence to the long-run emissions restrictions provisions described by the Waxman-Markey Climate Bill would result only in setting back the projected rise in global temperatures by a few years—a scientifically meaningless prospect.
And what about the gutted version that Waxman is now trying to force through committee? Even less. Knappenberger again: (more…)