Sentate Punts Cap and Trade Bill Until Spring
The Wall Street Journal reported today that Senate majority leader Harry Reid has postponed debate on the cap and trade bill until at least spring pushing a cap and trade vote until next year.
The cap and trade bill is an attempt by our government to address global warming. Our government has decided to ignore the true facts about global warming and has even suppressed any studies that bring up facts against global warming.
A post at Hot Air explains why this means that we wouldn’t see a cap and trade bill come to the floor of the senate or even a cap and trade vote anytime before the 2010 elections as many Democrats from red states would be unwilling to risk their careers on raising the cost of energy for voters through a cap and trade bill.
Many Americans that think they understand the global warming debate may find themselves asking, what is cap and trade? The cap and trade theory is that by instituting a cap and trade tax, companies would put less CO2 into the atmosphere and those that due would pay the government to do so. Companies that can reduce emissions of CO2 could sell or trade their carbon credits.
One major flaw of the cap and trade theory is that it ignores that the cap and trade tax would be passed on to energy consumers. Several groups that support a cap and trade bill hope that is the case. The cap and trade theory is that when energy is more expensive, people will use less energy saving the planet in the process.
The cap and trade theory doesn’t take into account that consumers just don’t use energy in their homes, but everything they buy consumes energy to produce and ship. The cap and trade bill would in effect create a cap and trade tax that would raise the cost of all goods and services.
Hopefully, by the time this comes up again, most Americans and our representatives will know the facts about global warming and drop the idea of creating a massive tax increase on the American people. This will help insure that a cap and trade senate vote would bring an end to the cap and trade bill.