AFP: 'Cap and trade' to hurt America in the wallet: analyst

WASHINGTON (AFP) — A proposed US market to trade rights to emit greenhouse gases would adversely affect both consumers and producers at a time of national economic distress, according to testimony from an independent government agency Thursday.

"Under a cap-and-trade program, consumers would ultimately bear most of the costs of emission reductions," said Douglas Elmendorf, director of the Congressional Budget Office, in testimony to the Senate Finance Committee.

"Higher prices for energy-intensive goods and services would lead to a variety of consequences for different industries, regions of the country, and income groups," he said.

DailyTech - President Obama Calls on America to Kick Gas Habit, Go Biofuel

On Tuesday, President Obama announced the new task force and called on Americans to embrace ethanol. He states, "We must invest in a clean energy economy that will lead to new jobs, new businesses and reduce our dependence on foreign oil. The steps I am announcing today help bring us closer to that goal. If we are to be a leader in the 21st century global economy, then we must lead the world in clean energy technology. Through American ingenuity and determination, we can and will succeed."

Do You Trust the Government to Take Your Money and Give it All Back to You? (Part 4 in a 10-Part Series) » The Foundry

The reason cap-and-trade and carbon tax have been used interchangeably in the global warming debate is because they are essentially the same thing: a massive tax on energy. Although a more direct approach would be to tax carbon dioxide, it does not make it any more acceptable. But this tax is different because the revenue generated will be given back to the people, presumably.

When has that happened? Can we honestly believe every dollar extracted from Americans from a cap-and-trade or a carbon tax will be given back in the form of a rebate or a tax cut?

WW II pilot recalls harrowing flight; Aviation club convenes in Fortuna - Humboldt Beacon

George Jutila gave a short presentation on global warming. He said that science is composed of observable, verifiable data.

According to Jutilla, we may be possibly entering a period of global cooling. He stated that these cooling and warming cycles have occurred over thousands of years without any man-made influence, and that man-made CO2 is responsible for 0.28 percent of global warming gases in the atmosphere. Jutilla, a physician living in Fortuna, said that the government is looking at global warming as a way to raise large amounts of money through cap and trade programs.