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Written by Sahnya Shulterbrandt
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Saturday, 04 July 2009 16:28 |
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Recently much is being discussed about America's Climate Security Act of 2009 (ACES 2009), also known as the Waxman-Markey Bill a controversial legislation which can impact the economy adversely especially in the state of Texas according to studies being made.
In this edition we are publishing the article Waxman-Markey Global Warming Bill: Economic Impact by Congressional District where the Heritage Foundation analyzes the negative economic impact of the bill. We also included a pdf with the projection they have done on how the bill would affect Texas by Congressional District in terms of the Gross Product, Personal Income and loss of Non-Farms Jobs up to the year 2035: How the Waxman–Markey Climate Change Bill Would Affect Texas by Congressional District.
Susan Combs, Texas Comptroller, brief study titled Cap and Trade: Potential Impact on Texas presents quite a negative scenario too. We are also sharing the Executive Summary of the analysis made by the Center for Energy Economics (CEE) at the University of Texas at Austin’s Bureau of Economic Geology, entitled The Proposed American Clean Energy and Security Act of 2009 and Related Energy/Environment Federal Legislation. Considerations for the Texas Economy. The article by Kathleen Hartnett White of the Public Policy Foundation titled Foundation: Cap-and-trade would devastate Texas economy arrives basically at the same conclusions.
Furthermore we have online the complete bill America's Climate Security Act of 2009 (ACES 2007) in pdf format for those who may want to interpret it and arrive at their own conclusions although it is very long +900 pages and quite difficult to understand for a layperson.
How the bill could affect you and your business
The cap and trade bill is moving through Congress. The climate bill passed Friday June 26.
 Some arguments are that this policy will stop the acid rain. Some other arguments are that the bill will help to reduce global warming. The "official" purpose is to reduce the gases linked to global warming and to force the shift away from fossil fuel. But that affirmation have been proven wrong by global Scientifics that consider that the global warming is just a phase of the planet, and that there is no a direct relation between gas emissions and global warming. So in the scientific world they are questioning if the support of bill from some scientist is because the funding they might get; so the support of the bill is based on what it’s called "false science".
The initiative to protect the planet is strong. Europe implemented some initiatives years ago, and we should analyze their lesson learned and how they generate new jobs and how they revitalize the economy with calls for proposal from the private sector.
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So the questions now should be:
Will this bill resolve a problem or impose major new costs and expansive regulatory controls over a weak and struggling U.S. economy?
If the bill keep moving and becomes a reality Texas will face new risks and new opportunities. In this already unstable and weak economy, should we in Texas and nationwide take the risk and loose the stability?
Texas already has the national leadership in green initiatives in industries such as the wind energy generation.
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Some groups argue that the bill will help to revitalize the economy and create "millions of new jobs". The jobs source is a constant change. Yes, they will be new jobs, but also there will be many others jobs that will disappear. The sectors that will be hit the hardest are: manufacturers, farmers, construction, machinery, electrical equipment and appliances, transportation, textiles, paper products, chemicals, plastics and rubbers and retail trade.
The bottom line is that all proposed radical changes can bring about controversy and they also impinge on industry, employment, family life, taxes and so on. It is quite important for Texans to understand the implication of this legislation not only from the possible negative impact but also from the positives that it intends to create. There are still many questions to be answered such as; how many jobs will it generate? Do the ecological benefits warrant the implementation? What industry and corporate interest are for or against it and why? How are individuals, you and I going to benefit? You decide. |
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Last Updated on Saturday, 07 November 2009 11:40 |
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