Obama is Still Selling Green Snake Oil

This guy is working every socialist angle he can.

In a taped speech shown to attendees at a climate change conference in California this week, Barack Obama continued trying to distract Americans from the enormous cost of making substantial reductions in carbon dioxide emissions by promising "five million new green jobs that pay well and can't be outsourced." Not only is this number pulled out of thin air; it's nothing to be happy about. As I've noted, the manpower required to transform the economy so that greenhouse gas emission targets can be reached is a measure of the cost involved. Obama makes it seem as if we should try to maximize this cost, promising that green jobs will "steer our country out of this economic crisis."

That is pretty much the opposite of the truth. As The New York Times notes, "some industry leaders and members of Congress have suggested that Mr. Obama's climate proposal would impose too great a cost on an already-stressed economy—having the same effects as a tax on coal, oil and natural gas—and should await the end of the current downturn." Obama's response is to portray the economic burden as a boon.

Even if Obama were right about current conditions, and right that things will only get worse, what evidence is there that his cap-and-trade plan will ameilorate the trend enough to justify the cost? Assuming we meet his goal of an 80 percent reduction in carbon dioxide emissions by 2050 (a conveniently distant deadline), how much will it cost, what impact will it have on global warming, and how much damage will thereby be avoided?