Right Hooks

Cap-and-Trade Stifles New Manufacturing Jobs

Jan. 6, 2015

The envirofascist group Environmental Defense Fund says the proposed cap-and-trade program is “the most environmentally and economically sensible approach to controlling greenhouse gas emissions.” It’s a statist’s dream to strangle American energy and save polar bears and Al Gore’s reputation. But a study by the National Bureau of Economic Research finds the EPA’s cap-and-trade program in 20 eastern states implemented from 2003 to 2007 shaved the number of manufacturing jobs by 1.3%. “There are several possible causes for the manufacturing job losses caused by cap-and-trade,” The Washington Examiner writes. “Many firms were affected by higher energy costs. But large manufacturing plants that produce their own energy were directly regulated under the cap-and-trade program. ‘Direct regulation may have led existing firms to decrease employment and discouraged new firms from locating in the regulated region,’ the study speculated.” Cap-and-trade contributed to lower wages for new employees and fewer new hires – something that should give the collegiate environmentalists crusading for the cause of global warming pause, as they soon will enter the job market. More…

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