Further, European businesses are bracing themselves for additional increases in cap-and-trade costs, as EU bureaucrats respond to the increase in European emissions by tightening limits. In turn, this will increase businesses’ cost of complying with the EU’s cap-and-trade scheme, further eroding EU economic competitiveness.

Ignoring these inconvenient truths, climate change alarmists nevertheless insist that the United States dive into the same self-destructive schemes.

But any such scheme inflicted upon the United States is doomed to failure, just as similar mandates have failed across the world. Cap-and-trade laws will fail to curtail emissions, let alone affect the vast global climatic environment. Instead, they will merely inflict great damage on our economic and employment climate precisely when America faces an increasingly-competitive world economy. The American Council for Capital Formation, as one example, estimates that a cap-and-trade law would cost 3.7 million American jobs, reduce gross national product by 2.6%, increase fuel costs even more and punish the average American household some $1,760 each year.

Hopefully, Americans will prove unwilling to pay this economic price for a scheme that fails to reduce emissions or benefit the environment.  Source

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