“The sun has gone quiet with fewer and fewer sun spots, and the global temperatures have gone into decline,” notes Weather Channel founder and meteorologist John Coleman. “Earth has cooled for almost 10 straight years. So, I ask Al Gore: Where’s the global warming?”
By INVESTOR’S BUSINESS DAILY
March 12, 2009
Climate Change: Sen. John Kerry warns that deferring cap-and-trade in a recession is a “mutual suicide pact.” In an effort to keep the glaciers from melting, he proposes putting the American economy in the deep freeze.
“You don’t enter a mutual suicide pact because the economy is having a hard time right now,” the failed presidential hopeful and noted climatologist said Wednesday. “Climate change is not governed by a recession.”
But trying to prevent a bogus apocalypse can drive one into a depression.
Kerry ignores the growing body of evidence presented by reputable scientists and including satellite observations, not computer models, that the earth has been cooling demonstrably since 1998 due to declining solar activity and other natural factors.
He also ignores the warnings of cap-and-trade’s economic consequences.
It’s not the glaciers of the Antarctic that face a meltdown, but the American economy.
An analysis by the George C. Marshall Institute estimates GDP losses of as much as 3% in 2015 and 10% in 2050 as a result of this cap-and-trade measure.
This enormous cost will make the mortgage and market meltdowns a fond memory and undo any good the stimulus package may have produced.
Cap-and-trade, the most popular way to address climate change, is a regressive tax that would hit the poor hardest.
The Congressional Budget Office calculates that higher prices caused by a forced 15% cut in CO2 emissions would cost those in the bottom quintile $680 a year, or about 3.3% of their income. They’re the poorest of the poor.