Academic

BOB ZUBRIN IN ROLL CALL: The Costs of the Cap-and-Trade Bill. ?Consider: Burning one ton of coal p?

By Glenn Reynolds

BOB ZUBRIN IN ROLL CALL: The Costs of the Cap-and-Trade Bill. “Consider: Burning one ton of coal produces about three tons of CO2. So a tax of $15 per ton of CO2 emitted is equivalent to a tax of $45/ton on coal. The price of Eastern anthracite coal runs in the neighborhood of $45/ton, so under the proposed system, such coal would be taxed at a rate of about 100 percent. The price of Western bituminous coal is currently about $12/ton. This coal would therefore be taxed at a rate of almost 400 percent. Coal provides half of America?s electricity, so such extraordinary imposts could easily double the electric bills paid by consumers and businesses across half the nation. . . . But all these bad aspects of the Waxman-Markey bill pale before its potential impact on the world?s food supply.”

Full post as published by Instapundit.com on July 01, 2009 (boomark / email).