Berkshire Hathaway CEO calls cap & trade approach ‘almost demented’-'monstrously stupid’
Tags: Cap & Trade Legislation, Carbon Tax, Climate Change Scam, Global Warming alarmists, Global Warming Scam, Global Warming Tax, Henry WaxmanEDITORIAL: via Orange County Register
Democratic dissention, Republican opposition and growing public skepticism may derail Congress’ potentially economy-crippling carbon cap-and-trade bill, perhaps saving Americans billions of dollars.
The bill’s author, Rep. Henry Waxman, D-Los Angeles, is opposed by centrist Democrats, who fear the Draconian regulations would severely harm their constituents.
Meanwhile, Republicans cite studies showing the bill would increase a typical family’s energy prices at least $3,100 a year, and over 20 years result in 7 million lost jobs and $7 trillion in reduced economic output.
An artificial market in government-mandated carbon credits would be “monstrously stupid to do right now,” Berkshire Hathaway Inc. CEO Charlie Munger told CNBC, adding that the move is “almost demented” considering other nations’ intention to continue industrial development, emitting vast amounts of greenhouse gases.
Public sentiment is at a new low, too, says pollster Zogby International. Only 30 percent of Americans support cap-and-trade, and 57 percent oppose it.
