AFP President Tim Phillips in WSJ

In response to: Cap and Trade Could Be a Boon to New York by Senator Gillibrand.


Hasn't the country learned its lesson that creating fanciful financial instruments, like derivatives, and allowing Wall Street to bandy them about institutionalizes instability? Carbon derivatives would be even worse than financial instruments that gave us the housing bubble. Cap and trade seeks to create a commodity out of thin air. The government would create a value where none exists. At least the mortgage securities had an actual asset behind them.

Tim Phillips

President

Americans for Prosperity

Arlington, Va.

http://online.wsj.com/public/page/letters.html

Carbon Con Game is a Con Job on Americans

The Carbon Con Game
by Peter Huber, Forbes Magazine

Since nobody can track twigs and cowpats, China's carbon accountants can make its renewable numbers come out anywhere they like. China is the largest emitter of greenhouse gas on the planet. We burn more carbon per person, but China has more people, and both its population and economy are growing much faster than ours. For many members of Congress, a vote for strict carbon limits will be politically suicidal if constituents continue to believe--correctly--that the vote will propel a massive shift of jobs, wealth and emissions from Peoria to Beijing.


http://www.forbes.com/forbes/2009/1102/opinions-china-carbon-greenhouse-gas-insights.html