31 Mar 2009 Watch Tom Borelli on the Fox Business Network’s “Money for Breakfast” on Wednesday Morning
Note: Due to news coming from the G20 meeting, the Fox Business Network has postponed running the scheduled April 1 interview with Tom Borelli until April 2. We apologize for any inconvenience to our readers who tuned in April 1 expecting to see Tom.
From David Almasi:
Tom Borelli, director of The National Center’s Free Enterprise Project, is scheduled to be a guest on the Wednesday morning edition of the Fox Business Network’s “Money for Breakfast” program (April 1, 2009). Tom will be talking about the inherent problems with imposing a “cap-and-trade” policy relating to greenhouse gas emissions.”Money for Breakfast” airs between 7:00 AM and 9:00 AM eastern on the Fox Business Channel. Tom is tentatively scheduled to appear around 7:40 AM eastern. Check your local cable listings for local channel number or click here.
…Clearly, these firms have placed a huge wager on cap-and-trade since the legislation will make carbon dioxide a commodity and drive demand for renewable energy sources such as wind turbines and solar panels.But carbon trading is very speculative at best. For example, JPMorgan is seeking to create carbon emission credits from distributing energy-efficient stoves in Africa. Since the stoves will reduce the amount of carbon dioxide emitted into the atmosphere because they burn less fuel than traditional cooking methods, the company wants to claim the savings as a carbon emission credit. The carbon credits would then be sold in the carbon exchange to a company that is over its government mandated limit…
…There must be something in the water on Wall Street that makes these firms dream up such ridiculous ideas. Creating a market built on a house of cards that man’s activity is causing global warming is dangerous enough, but that risk gets magnified when markets are created by assigning an artificial value to a ubiquitous and invisible gas such as carbon dioxide.
Additionally, a National Center poll taken in 2008 found that the overwhelming majority of Americans oppose a cap-and-trade policy. The poll results can be found hereTo learn more about the “Money for Breakfast” program, click here.