Letters to the editor – Tuesday – Nov. 24, 2009
Wrong time for cap and trade bill
I find it increasingly difficult to see much merit in the content or the timing of climate control legislation being considered in Congress. We deserve better solutions than those put forth in the Waxman-Markey cap and trade legislation.
Our nation is experiencing the worst levels of unemployment in more than three decades. Here in North Carolina, we’re at 10.8 percent, and that stunning figure is expected to rise even higher. But now Congress is moving toward enactment of a cap and trade system that will certainly cost more jobs as the price of energy rises and leave less money in the coffers of American families and small businesses.
I believe the Waxman-Markey bill comes not only at a bad time, but is deeply flawed. Most pollution emission allowances would be bought and sold in a newly created trading market run by the same Wall Street opportunists who helped bring on the recent financial crisis.
Cap and trade could end up transferring billions in wealth from consumers who can least afford it to the nation’s highest corporate earners. And whether or not the system will reduce pollution to levels that actually make a difference in global warming remains an open question.
I sincerely hope our state’s senators ó no matter what their political affiliation ó will vote against the cap and trade measure. It isn’t right for North Carolina, and it isn’t right for our country.