The American Clean Energy and Security Act (H.R. 2454, aka the Waxman-Markey climate bill) and the American Power Act (aka Kerry-Lieberman climate bill) both contained explicit provisions to create not just a U.S.-side cap-and-trade program for carbon dioxide (CO2) but also a single, transatlantic emissions trading scheme.
The problem is that even if cap-and-trade is dead in the U.S. Senate, its advocates remain committed and have options for international action. The more this can be understood, the more the electorate can reject U.S.-side help for a futile, costly international scheme to regulate CO2 in the name of “stabilizing” climate.
A clear warning that supranational cap and trade was planned beyond the EU’s borders came in a speech last May by the European Commission official Jos Delbeke, Deputy Director General DG Environment.…
“Many European countries are waking up to the disaster of extravagant subsidies to renewable energy. But Britain isn’t. The lesson for Americans is simply that throwing money at renewable energy is a huge economic mistake, but politicians can keep the racket going regardless. It will take robust opposition to stop the United States repeating Europe’s mistakes.”
Renewable energy has proved an expensive and unreliable source of energy everywhere it has been tried on a significant scale. And now there is a big divide among the major European economies that have enthusiastically adopted wind, solar and the other renewables.
While the UK ploughs ahead by throwing good money after bad, Italy, Spain and Germany are cutting back on their taxpayer/ratepayer-funded generosity toward politically correct energies. France, meanwhile, with its abundant nuclear power, has smartly stayed out of the game.…
The European Union Emissions Trading Scheme (ETS) is currently the largest cap-and-trade scheme in the world. Covering 11,500 installations and countries with a combined population of around 500 million, the scope of the scheme is truly enormous. Before Americans adopt a cap-and-trade scheme of their own, it is vital that they take a serious look at how things have gone in Europe. I hope that my study, released at the end of last week, can demonstrate some of the huge risks that the United States will face if cap-and-trade advocates get their way.
The first thing to note is that the scheme has cost European consumers a fortune. There was a total bill of €93 ($123) billion between the introduction of the scheme in January 2005 and the end of 2008.…