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Listen up, Americans...cap and trade a 'disaster'
Written by Pete Chagnon - OneNewsNow   
Tuesday, 07 July 2009 08:21

Global_Warming_costsA European filmmaker is warning the U.S. about the disastrous cost of cap and trade.

The U.S. House last week passed the Waxman-Markey Energy Bill, otherwise known as "cap and trade." The legislation seeks to limit the emission of carbon dioxide from conventional power plants and seeks to produce more power from wind and solar.

Opponents of the measure argued that implementation of cap and trade would destroy the American economy and dramatically increase energy costs for the average American -- something then-presidential candidate Barack Obama stated clearly while on the campaign trail in late 2008.

"Under my plan of a cap-and-trade system, electricity rates would necessarily skyrocket...regardless of what I say about whether coal is good or bad -- because I'm capping green house gases..,." he said.

Documentary film producer and director Ann McElhinney is perplexed at the recent passage of cap and trade. Her latest film, Not Evil Just Wrong, takes an in-depth look at how environmental policy can do more harm than good. She sees some irony in the effect of the Kyoto Protocol -- an international environmental treaty the U.S. has symbolically signed but never ratified.

"Countries in Europe that signed up to Kyoto, which is our equivalent of this cap and trade, ...have seen a loss in jobs -- and funny enough they've lost jobs to America," she observes, "because they can't compete, because it immediately affects how much electricity costs to people."

And utility costs, she contends, are a particularly sensitive issue to people. "It's sensitive to people on low incomes, but it's a very sensitive issue for industries that are trying to make a profit and that can only succeed in a very competitive world, that can only succeed if they can keep their energy prices really low," McElhinney explains. "So for Europe, [cap and trade] has been a total disaster."

Not Evil Just Wrong is set to be released in the fall of 2009.

This article was taken from onenewsnow.com, and can also be read here.

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