Monday, November 24, 2008

Cap-and-trade is a simply dreadful policy

SOURCE Free Enterprise Education Institute

"Cap-and-trade is a simply dreadful policy option that is being pushed
by Alcoa, BP, Caterpillar, Conoco Phillips, Dow Chemical, Duke Energy,
Dupont, General Electric, PepsiCo and the other big business interests that
belong to the U.S. Climate Action Partnership (USCAP)," said the FEEI's Tom
Borelli. "Global warming pork-barrel spending and corporate welfare are
what they're after," Borelli added. "USCAP members hope that, through a
cap-and-trade scheme, Congress will simply give them and other special
interests what amounts to essentially 'free money' -- as much as $1.3
trillion dollars over the next 10 years. "Not only is
cap-and-trade likely to misdirect taxpayer monies and rob hard-working
Americans of income, it's not at all clear that it will produce any
environmental benefits whatsoever," he added.

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