Run Like A Deere From Cap-And-Trade

August 30, 2010 12:57

Deere & Co., a major player in the U.S. Climate Action Partnership, drops out, saying the group’s legislative strategy is no longer a foundation for moving forward. Is cap-and-trade dead? Not by a long shot.

From IBD Editorials


‘We’d like to think the grand poo-bahs at Deere have wised up, recognizing that the junk science behind climate change has been exposed as the fraud it is, and that the economic consequences of cap-and-trade will be devastating to companies such as Deere and Caterpillar, another corporate giant that recently quit the group.’

‘Taxes on energy or carbon will not boost the economy, nor will worrying about delta smelt or imposing drilling moratoriums in a nation starved for energy. Yet the administration scratches its collective head as to why business is not hiring as it declares carbon dioxide a pollutant and plots to regulate everything down to your lawn mower.’

‘According to the Heritage Foundation’s Center for Data Analysis, under cap-and-tax legislation, gas prices at the pump would increase 58%. Residential electricity costs would “necessarily skyrocket” by 90%. Total GDP loss by 2035 would be $9.4 trillion. Net job losses (after “green” job creation) would be nearly 1.9 million in 2012 and could approach 2.5 million by 2035. Manufacturing would lose 1.4 million jobs in 2035.’


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