Al Gore calls it an Inconvenient Truth, but I would say the global warming, carbon emissions, cap and trade situation is a Complicated Truth. Any one of these topics would be hard to delve into in a single blog entry or even in several entries, but I will point you to this article which is a compelling look at the complexities of the issues – Bound to Burn by Peter W. Huber. If you are looking for a common sense, honest analysis of these difficult topics, here it is.
Mr. Huber explains the real truth, that China, India and other developing nations are not going to be convinced to cease the burning of fossil fuels and thus impede their rapid advancement out of poverty. Not even to “save the planet”. If Democrats persist in placing extreme regulatory limits on carbon emissions in this country the resultant job migration overseas will make us look back longingly to the “outsourcing” job migration of the last 10 years. I might add, that when cap and trade is coupled with the current administration’s plans to raise corporate tax rates, every employer in America that has the ability will have all the reason they need to take their operations and the associated jobs overseas.
Likewise, the $40 trillion in oil under the Middle East is coming out of the ground. If you think it isn’t, I beg you to explain to me how a few sheiks, who hate us to begin with, will be convinced to give away $40 trillion by not drilling that oil. Of course, that’s rhetorical because there is no way that will happen.
Simple logic tells us that 1 billion people in developed nations cutting their carbon emissions, while the other 5 billion people on this planet are increasing their emissions rampantly, is not a formula for solving this problem and will only put those people doing the cutting at a huge competitive disadvantage. Bottom line this is a much more complex issue than the politicians make it out to be, and certainly too complex for Henry Waxman to cram comprehensive climate change legislation through Congress in less than 30 days.