Friday, June 06, 2008

The Economy Catches a Break

At least until the next session of Congress, as the Senate has rejected a massive defacto tax increase, combined with centralized economic planning, all in the name of “climate change”.

Kudos to Sherrod Brown for recognizing that this measure would effectively gut what remains of Ohio’s economy.

The Big Lie in all of this is that this bill would not increase costs to the consumer, and wouldn’t cripple the economy.

Mandating emission reductions and caps creates cost. That cost has to be paid by someone.

Congress mandating wealth transfers to a new set of priveliged companies producing inefficient wind farms, solar panels, and biofuels, while forcing the shutdown of coal and oil imposes costs.

If the conversion to solar / wind / biofuels was easy and market competitive, it would have been done already. Without the government’s direction.