Monday, October 12, 2009

Carbon Emissions Fall By Steepest in 40 Years

said Reuters, although hardly anyone seems to have paid attention.

Carbon emissions fall by steepest in 40 years (9/21/09 Reuters)

Despite the cold wave sweeping through the country, people pushing the climate change legislation (domestic and international) are upbeat as ever. Cold weather, hot weather, as long as it is "extreme", they can call it "the result of global warming".

Former Vice President Al Gore, who is set to profit tremendously from so-called green business once the climate bill passes, is naturally the lead proponent for the cap and trade that would potentially raise the income tax for most Americans by 15%. His Generation Investment Management, nicknamed "blood and gore", and co-founded by ex-Treasury Secretary Hank Paulson, owns 10% of Chicago Climate Exchange.

But did you know that the carbon emission in the U.S. dropped 9% in the past two years and is set to drop even further (6% drop)? You don't hear about it much, do you?

What did it? Recession.

Proponents for the climate legislation want to attribute the decline to the clean energy initiatives (see the Washington Post article from September 20, 2009). I am sure solar, wind, and other forms of alternative energy generation must have helped, but the main reason is global recession that has caused the global tumbling of factory output, as Reuters put it.

If the Senate passes its climate bill and this cap and trade tax is forced on the populace, the carbon emission is set to decrease for a foreseeable future. Not because of cap and trade, but because of prolonged recession/depression thanks to the added tax burden on productive citizens and private businesses. Unless those businesses of course are Mr. Gore's companies.


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