Today’s Calamity: Will Cap and Trade Save the Planet?

Nicolas Loris /

Last week, in our inaugural Cap and Trade Calamities, we laid out the exorbitant costs the Waxman-Markey cap and tax bill would impose on your family. But if it saves the planet, isn’t it all worth it? The fact is, our planet is not in the immediate danger environmental activists purport it to be, and even if it were, Waxman-Markey would not do a thing to stop it.

When the benefits of cap and trade are measured against the costs, the costs significantly outweigh the negligible benefits. We break down the exorbitant costs of Waxman-Markey’s imposed carbon emissions reductions here. Let’s dissect the benefits.

According to a calculation by climatologist Chip Knappenberger, the temperature reduction by 2100 if we enacted the Waxman-Markey cap and tax bill would be between 0.1 and 0.2 degrees Celsius by 2100. Even the Obama Administration’s Environmental Protection Agency admitted that U.S. action alone would not change world carbon dioxide emissions.