Energy Follies

Cap and trade means cap and tax--all pain, no gain. $1600 cost of living increase per family at a minimum. Reason's Hit and Run with links, including Harvard economist Martin Feldstein.

Indiana would be looking at electricity bills doubling. Rep. Mike Pence (R-Indiana) recently hosted an energy summit in Indianapolis, and discusses the latest "compromise" legislation:

Even more devastating than what the "compromise" sought to address is what it has left unaddressed -- the loss of American jobs. Estimates suggest that between 1.8 and 7 million jobs could be lost as a result of this national energy tax plan. Indiana has already lost roughly 150,000 jobs because of the current economic recession. A national energy tax will only make the pain worse. Manufacturing plants, and the jobs they create, will relocate to foreign countries with less stringent environmental regulations and, ironically, inflict even greater harm on our global environment.

The left usually argues against a unilateral approach. Why would it make sense now?