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Editorials

Cap and Trade Bill a scare proposition

POSTED: June 24, 2009

It's called the American Clean Energy and Security Act. It's known as the Cap and Trade Bill. In reality, it's a huge tax increase that will stifle economic development and add to unemployment rolls.

So we're heartened our local Congressmen Glenn Thompson and Chris Carney are opposing the bill.

While the bill is purported to promote clean energy and energy alternatives such as solar and wind power, those things can be done without throwing under the bus dependable resources such as coal and oil. Increasing taxes on these sources will drive up energy costs beyond the means of most Americans and cost jobs.

It's fine to promote solar and wind power. We've done it in this space many times. But those sources are not ready to assume the bulk of the energy burden of this nation or the world.

In the meantime, the best way to promote environmentally friendly changes among the traditional energy producers is economic incentives. Those would include tax credits for use of alternative fuels; cash incentives for innovative technologies, research and development; application of renewable energy resources; and authorization of an accelerated regulatory process for new nuclear reactor applicants.

Punishing consumers, workers and businesses tied to the traditional energy sources with heavy taxation that will lead to price increases and unemployment is not innovative just because it has environmentally friendly underpinnings. We can accomplish that worthy goal without stunting our energy economy.

We hope Reps. Carney and Thompson will continue to stand tall against this legislation on behalf of their constituents.

 
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