by Gregg Gethard Do the benefits outweigh the costs? [...]
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Why cut GDP growth over the century by 12-13% when the costs of adaptation will be much lower (“the majority of economic models show that unconstrained global warming would cost rich nations around 2% of GDP and poor countries around 5% …[...] With climate-change hype taking legislative form in HR 2454 and the Waxman-Markey cap-and-trade bill,and with fossil fuels on the endangered species list,not many in Washington seem concerned that Waxman-Markey,among its other costs …[...] More on the costs of cap-and-trade:Administrative expenses. [...] BOB ZUBRIN IN ROLL CALL:The Costs of the Cap-and-Trade Bill. “Consider:Burning one ton of coal produces about three tons of CO2. So a tax of $15 per ton of CO2 emitted is equivalent to a tax of $45/ton on coal. …[...] While proponents of the bill have sought to argue that the costs of such a system would be negligible,nothing could be further from the truth. [...] “…the Congressional Budget Office recently put out an estimate (.pdf) of the costs of the Waxman-Markey cap-and-trade bill. [...] The goal here is simple:the Congressional Budget Office recently put out an estimate (.pdf) of the costs of the Waxman-Markey cap-and-trade bill. The CBO estimated that the average American household would wind up paying a net of $175 …[...] White House Admits Cap-And-Trade Tax Costs Triple Their Official Estimate “Remember that these staggering costs of $1.3 to $1.9 trillion are for just the first 8 years of a 40 year program that gets much more expensive over time. …[...] The Waxman-Markey bill,or the ”Cap and Trade ”bill,would require companies to acquire permits in order to release carbon dioxide. However critics of the bill think that it would have an adverse affect on business because of the costs …[...] | |||||