The cost of global warming regulation
November 26, 2008 | By Nathaniel Ward
Even though Congress has failed to pass global warming legislation, the Environmental Protection Agency wants to bypass the legislative process and impose onerous new regulations on greenhouse gases anyway.
The proposed regulatory scheme "is nothing less than the most costly, complicated, and unworkable regulatory scheme ever proposed," Heritage Foundation expert Ben Lieberman argues in a new analysis.
"Virtually every concern heightened by the economic downturn, especially job losses, would be exacerbated under" the proposed rules, he continues.
According to Heritage research, the EPA's plan would:
- Cost the American economy nearly $7 trillion by 2029;
- Result in millions of job losses, especially in the manufacturing sector; and
- Impose burdensome new rules on families, businesses and ordinary regulations.
— David Talbot
Time is short to stop the EPA
Public comments can help the EPA as it makes its decision about these onerous new regulations on carbon dioxide. But the deadline to submit your comments is Friday.
» Submit your comments today at StopEPA.com.
Two ways to support Heritage by December 31
- Mark CFC #10155. If you are a federal or military employee, you can contribute to Heritage through the 2008 Combined Federal Campaign. Mark CFC #10155 to support The Heritage Foundation's work.
- Give Through Your IRA. Thanks to recent legislation, conservatives age 70 ½ or older have an exciting way to support The Heritage Foundation—by making a tax-free gift directly from their IRA. Time is short—you have until December 31 to make your IRA contribution for the 2008 tax year. Find out more on MyHeritage.org.
New audio commentary from Ernest Istook
Each week, Heritage Foundation fellow Ernest Istook prepares one-minute analyses of current events to be distributed nationally on talk radio. Listen to his latest commentaries online:
Watch Heritage's conference on religion
Next Wednesday, Stephen Post, author of Why Good Things Happen to Good People, delivers the keynote at The Heritage Foundation's annual Religious Practice in America conference.
Introduced by Dr. John Templeton of the Templeton Foundation, Post will speak on "Love Thy Neighbor: A Happier and Healthier Life."
» Register to watch the live webcast or to attend in person.
» Read more about the keynote speech on MyHeritage.org
Other Heritage work of note
- Writing on RealClearPolitics.com, Heritage's Peter Brookes explores Russia and China's troubling new meddling in Latin America. "Conventional wisdom says our sway is declining in this hemisphere. If true, that's bad news. Since geography is destiny, maintaining - or regaining - America's influence in the region will be key for the next US president."
- Heritage Foundation experts sent a sent a graphic to the news media demonstrating how a federal bailout of automakers would force American taxpayers to subsidize the high-paying jobs of union workers.
These graphics are having a real impact in the media: a version of this chart illustrated an article on the Detroit bailout in Wednesday's New York Post.
- Heritage expert Dennis Smith argues that Congress should carefully consider the high cost of expanding health-care subsidies for children. "Congress cannot deliver last year's legislation with the same results," he explains. The program "will either cost more or serve fewer children." Congress should instead consider a reform that allows families and children "to keep the private coverage they have and to get the private coverage that they want."
In other news
- The federal government could run a $1 trillion deficit in fiscal 2009 as lawmakers pass economic "rescue" packages at taxpayer expense.
- Faced with a budget shortfall, New York City is deploying hundreds more traffic enforcement officers to raise revenue instead of curbing unnecessary spending.
- Great Britain is considering banning happy hour alcohol specials.
- Vaclav Klaus, the Czech Republic's conservative president, will assume the rotating presidency of the European Union. Klaus is a strong proponent of free markets.
Upcoming webcasts
The Heritage Foundation is pleased to present the following webcasts for our members and supporters. You can watch the webcasts live on MyHeritage.org. All times are Eastern.
- Monday, December 1 at 1:35 p.m. — Wall Street Journal columnist John Fund speaks at an event sponsored by the Chicago Committee for Heritage about the strengths and weaknesses of the conservative movement after the recent elections.
- Wednesday, December 3 at noon — Stephen Post, author of Why Good Things Happen to Good People, delivers the keynote at The Heritage Foundation's annual Religious Practice in America conference. Introduced by Dr. John Templeton of the Templeton Foundation, Post will speak on "Love Thy Neighbor: A Happier and Healthier Life."
Coming up at Heritage
To attend these or any other events at Heritage please RSVP at Heritage's website. Or you can view these events live online. All times are Eastern.
- Tuesday, December 2 at noon — Authors Nicole Hoplin and Ron Robinson will discuss their new book Funding Fathers: The Unsung Heroes of the Conservative Movement.
- Wednesday, December 3 at noon — A panel of experts will discuss missile defense in Europe and the threat Iran poses to the Obama administration.
- Thursday, December 4 at noon — Christopher Horner of the Competitive Enterprise Institute will discuss his new book Red Hot Lies: How Global Warming Alarmists Use Threats, Fraud, and Deception to Keep You Misinformed.
