CO2 And You

IBD Exclusive Series: The High Costs Of Carbon Caps Douglas Elmendorf, director of the Congressional Budget Office, told members of the Senate Finance Committee Thursday that "Under a cap-and-trade program, consumers" — not demonized corporations, we might add — "would ultimately bear most of the costs of emission reductions."

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This is because industry and other groups (hospitals, schools, any institution that discharges carbon), forced under a federal cap-and-trade regime to buy government permits to release CO2, would pass on their costs to consumers. Cutting carbon emissions by 15% through this method would cost each American household an average of $1,600 a year, the CBO found. In a worst-case scenario, the cost is $2,200 per household. More...

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