Courtesy of Lord Christopher Monckton:

I warn this honorable House that any proposal to inflict billions of dollars of new taxation on all citizens by charging selectively-disfavored industries for arbitrarily-rationed permits to emit a harmless and beneficial trace gas that is necessary to all life on Earth and has little effect on its surface temperature will fall cruelly and disproportionately upon the poor, will threaten their very lives, will gravely diminish the liberty that is the glory of your great nation, will render difficult if not unlawful the pursuit of happiness, will raise little net revenue if the poor are adequately compensated by subsidy, will damagingly distort the labor market by widening and deepening the unemployment trap that already gives millions of your most helpless citizens a better income on welfare than in work, will imprison the poorest earners in a perpetual poverty trap by inflicting upon them a crippling marginal taxation and benefit-withdrawal rate that powerfully deters them from increasing their earnings,

will be complex, extravagant, and costly, will savagely compound the adverse effects of recession, of excessive public and private indebtedness, of fiscal incontinence, and of monetary laxity on industries and employment, will create soi-disant “green” jobs by the thousand while destroying real jobs by the million, will establish an unstable and artificial derivatives market in hot air that will enrich a handful of portly middle-men while impoverishing the people, will automatically and ineluctably defeat its own objective by so depressing economic activity that the “market” price of carbon dioxide will tend rapidly to fall as close to zero as it has done in both of Europe’s attempts at a cap-and-trade scheme, will directly encourage fraud by incentivizing not only both parties to every transaction but also the regulatory authorities recklessly to overstate the magnitude of that transaction, will set your enterprises at a profound competitive disadvantage against nations that steer wisely clear of purposeless restrictions on or taxation of the very air we breathe out, will accelerate the transfer of wealth from your citizens’ pockets to other nations’ governments by way of boondoggles such as the UN’s “Clean Development Mechanism”, and will appreciably increase global carbon-dioxide emissions by transferring US jobs and manufactures to less efficient nations whose emissions per unit of production are many times greater than your own, and by increasing poverty and consequently birth-rates and consequently carbon-dioxide emissions worldwide, thereby exerting at prodigious and tragic cost a double influence on the global climate that will be precisely the opposite of that which was, however piously, intended.”