Saturday, December 15, 2007

Baron's hot air on CAFE standards

I got an email from Baron a week ago-- describing his legislative success in helping to pass H.R. 6-- "an historic and comprehensive energy package" which "puts our nation on a much-needed path toward energy independence". Among other things-- important things which led the Senate to sack the legislation-- the bill would have raised Corporate Average Fuel Economy (CAFE) Standards for vehicles to 35 MPG by 2020 (a 40% increase) with separate standards for cars and trucks.

According to Baron, "the Energy Independence and Security Act, H.R. 6, will: increase American energy independence, strengthen national security, lower energy costs, grow our economy and create new jobs, and reduce global warming."

Actually, that's not possible-- and if it were, then we wouldn't need Congress to implement a law to encourage such wonderful outcomes!

-Increase energy independence? Perhaps to a modest degree...

-Strengthen national security? Again, perhaps to a modest degree...

-Lower energy costs? That's a stretch...

-Reduce global warming? By a smidgen at most...

-Here's my favorite: Grow our economy and create new jobs! Uh-huh...More regulation will increase economic activity? Nope. For the sake of the argument, assuming that the policy is good for the environment, it comes at the expense of the macroeconomy and the well-being of individuals.


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