For any useful idiots who still think Cap & Trade has anything
to do with the environment...
Governments Using "Cap and Tax" Carbon Permit Sales to Fix Budget Woes
by Jim Kelly
Tuesday, May 11, 2010
globalgovernancewatch.org
Facing economic collapse from crushing debt levels attributable
to stagnant economic growth, bloated government-run welfare
programs, and unfunded public sector wage, benefits, and
pension obligations, European Union ("EU") nations desperately
need a new source of revenues.
For the EU, the proceeds from the auction of carbon emission
allowances to businesses, the cost of which the businesses can
pass along to their customers, represent a form of tax
revenues that EU member states can use to support struggling
European national economies and lessen or postpone the
negative impacts of the politically difficult economic
transformations.
Unfortunately, as the EU looks forward to the third phase of
its Emissions Trading System ("ETS"), during which its member
states will be able to auction off even more carbon permits,
it need only look to the states of New York and New Jersey for
inspiration on the use of auction proceeds to sustain runaway
government spending...
"...the states of New York and New Jersey have raided their
carbon auction funds to address general state budget deficits."
Both states participate in carbon emission permit auctions as
members of the Regional Greenhouse Gas Initiative ("RGGI"),
a cap and trade market in which ten states in the Northeast
participate for the purpose of conducting quarterly auctions
of permits allowing power plants to emit CO2.
In December 2009, New York lawmakers approved taking $90
million raised from selling carbon dioxide permits and putting
it toward a $2.77 billion plan to shrink the state's $3.16
billion budget deficit. In March 2010, New Jersey moved $65
million from auction proceeds that were being held in New
Jersey's Global Warming Solutions Fund to its General Fund."
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Can America really be this damn stupid to fall for a
con artist bankster-gangster front by the name of Al Gore,
who has been a serial lying, self-agrandizing, megalomaniac
narcissist his entire life?
Billions in new taxes for us, and billions in profits for them
from insider deals and a monopoly on carbon trading.
One giant Lootapalooza ~
SOTB |
