Gulf Oil Spill ‘Crisis’ May Revive Growth-Killing Cap-And-Trade Bill


ARTHUR LAFFER, WAYNE WINEGARDEN AND COLIN HANNA
Climate Change Fraud
July 19, 2010

  • A d v e r t i s e m e n t
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As White House Chief of Staff Rahm Emanuel expressed in the midst of the financial crisis, this administration follows the rule “Never allow a crisis to go to waste.” And following President Obama’s Oval Office address, it is apparent that many in Washington are doing their best not to let the oil spill crisis in the Gulf “go to waste.”

Prior to the Gulf disaster, the American Power Act (the Senate version of cap-and- trade) seemed all but dead.  This is as it should be. But with the Senate back from the July 4 recess, either the American Power Act will be explicitly taken up or another clean energy bill will be proffered to which the key provisions of the American Power Act will be attached.

The problem is that there is no real link between cap-and-trade regulations and the crisis in the Gulf.  As President Obama himself admitted in a speech at Andrews Air Force Base in March of this year:

“The bottom line is this: Given our energy needs, in order to sustain economic growth, produce jobs, and keep our businesses competitive, we’re going to need to harness traditional sources of fuel even as we ramp up production of new sources of renewable, homegrown energy (emphasis added).”

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