Simpson Opposes Cap and Trade
Simpson Opposes Obama Administration's Cap and Trade Rules
Idaho Congressman Mike Simpson strongly supports efforts to put the brakes on the Obama Administration's new cap and trade regulations. He has long opposed efforts to impose unworkable regulations on the energy sector that would do little to improve climate conditions but would impose prohibitive costs to consumers. Most recently he has cosponsored resolutions to disapprove of two rules recently finalized by the Environmental Protection Agency (EPA) to regulate carbon dioxide emissions from new and existing power plants. These two rules would employ the Congressional Review Act to ensure that they do not go into effect.
"The American people have already rejected the idea of imposing a costly and unrealistic cap and trade system on our economy, yet the Obama Administration continues to be bent on implementing its own climate change regulations, in spite of their unpopularity with the public," said Simpson. "Frankly, the President's lack of regard for the economic impact of his regulatory actions and his willingness to ignore the legislative process make it necessary to use the Congressional Review Act to get the Administration's regulatory appetite in check."
The EPA's new and existing power plant rules were finalized in October. The new power plant rule depends on technologies, like carbon capture and sequestration, that are still not largely available or viable. The existing power plant rule would effectively put into place a cap and trade system, even though many economists agree that such a system is not the most effective way to reduce the impacts of climate change. Without global participation in such a program, including heavy polluters in growing economies like India and China, U.S. industries will be unable to compete on the world stage and American jobs will be forced overseas.
