Cap, Trade Charade

Canada unfazed by fact that scheme is a costly failure in Europe

By LORRIE GOLDSTEIN

Last Updated: 28th May 2009, 3:21am

As long as politicians keep misleading us about what a cap-and-trade carbon market is — yesterday it was Ontario Premier Dalton McGuinty and Environment Minister John Gerretsen — I’m going to keep calling them on it.

And this isn’t just about Ontario. Canada is going to implement cap-and-trade. So is the U.S. It’s coming no matter where you live.

Yesterday, Gerretsen claimed cap-and-trade is an environmental program to reduce greenhouse gas (GHG) emissions by industrial polluters. Bull. Cap-and-trade is an economic program run by governments to charge Canadians — not “polluters” who in fact get to pass along their costs, and more, to us — for something we’ve never been charged for before.

That is, the cost of emitting carbon dioxide into the atmosphere when energy is produced by burning fossil fuels.

Cap-and-trade shouldn’t even be announced by the environment minister. It should be announced by the finance minister.

It means charging us more for almost everything, not just electricity, as politicians pretend.

Yes, your electricity bill is going to skyrocket because of cap-and-trade and other reasons.

That’s already happened in Europe, which has had cap-and-trade since 2005 and where the only reason GHG emissions finally went down after rising in 2006 and 2007, is that the global economy crashed in 2008.

That’s what lowers emissions. In a recession, we buy less stuff because we have less money, which means it takes less energy to make it.

Using less

Because we have no practical way at present to stop carbon dioxide from going into the atmosphere when fossil fuels are burned, the only way to do it is to increase the cost of fossil fuels, so we’ll use less.

That’s all cap-and-trade does. It’s government trying to reduce GHG emissions by, in effect, deliberately creating a recession in which all of us use less energy because we have to pay more for it and, further, have less money to buy anything else.

Introducing cap-and-trade in good economic times would be suspect.

Introducing it during the worst global recession since the Great Depression is stark, raving, mad.

And it’s not just electricity that’s going to go up.

So is the cost of food and virtually everything we buy, because it takes energy to grow it, manufacture it and transport it to market.

So is the cost of heating and cooling our homes, for the vast majority.

So is our water bill, because it takes electricity to pump it to our homes.

The cost of government is going to go up because governments are increasingly subsidizing — with our money — hopelessly inefficient “renewable energy” projects such as wind and solar power, where the technology is years away from reliable, affordable, on-demand use, compared to traditional energy sources.

Cap-and-trade is government and industry sitting down behind closed doors to cut up a big fat wad of even more of our money than they take now, in a negotiation where we don’t get a seat at the table.

We don’t yet know how much it will cost, other than mega-billions, because no government has provided what we need to make even a guesstimate — what the “cap” on total annual carbon dioxide emissions will be, how fast it will be lowered, how big the cap-and-trade market will be, all of which will affect the market price of a “carbon credit,” which is just a pollution permit allowing the bearer (industry) to emit a tonne of carbon dioxide.

Finally, the legacy of cap-and-trade is not going to be a greener world.

It’s going to be the world’s largest new stock market, trading exclusively in a stock called carbon credits, where the mega-profits will be made by speculators, hedge funds, and the same financial and investment houses that just finished crashing the global economy.

Happy @!@^%%*! Earth Hour.

lorrie.goldstein@sunmedia.ca

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2 responses to “Cap, Trade Charade

  1. There is no need to cap carbon, because it does not cause global warming, nor climate change. Capturing carbon does not cut pollution. The whole thing is a governmental money grab inflicted on gullible people, first told of being guilty of making pollution. What a political deceipt.
    Canada will be poor and unfree.. Stand up folks.

  2. ruralgrubby

    Cap & Trade or carbon schemes are the new derivatives and hedge funds that money makers are promoting as new product on which they can make money. This will create a false economy just like the boondoggle we are facing now with this financial market breakdown.

    Thanks for your comments springbreeze

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