Cap-and-Trade Scheme Would Deepen Economic Downturn

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“If Congress and the Administration want to guarantee that the current economic downturn turns into an ongoing recession, they should enact a cap-and-trade bill as quickly as possible,” said Myron Ebell, Director of Energy and Global Warming Policy for the Competitive Enterprise Institute.

“Look at the European experience,” said Ebell. “European companies that supported the EU’s Emissions Trading Scheme (ETS) are now calling for an end to the resulting economic damage.”