The Associated Press: Waxman claims climate bill won't be drag on economy

WASHINGTON (AP) — The chief sponsor of a bill that would limit greenhouse gases says his proposal to tackle climate change would spur clean energy development and won't be a drag on the economy.

Rep. Henry Waxman, D-Calif., said Wednesday claims by critics that controlling greenhouse gases will undermine the economy ignore the financial benefits of shifting to cleaner energy that does not contribute to global warming.

But if the alleged financial benefits are so great, why is Waxman trying to force this down our throats, and why would electricity prices necessarily skyrocket?

Note this caption on an accompanying photo:

FILE - This July 10 2007 file photo shows smog covering midtown Manhattan in New York.