Heritage’s Ben Lieberman Sets the Record Straight on Europe’s Cap and Trade Experience » The Foundry

Testifying before the Committee on Foreign Relations, The Heritage Foundation’s Senior Policy Analyst in energy issues explained:

“Most western European nations are currently learning, the hard way, that ratcheting down carbon emissions [through cap-and-trade] is very difficult and expensive…To the limited extent European nations have reduced emissions below business-as-usual levels, it has hurt their economies. Almost every western European nation has had higher unemployment and energy costs than America, and a weaker overall economy, even as emissions were rising. Far from seeing evidence of the new green economy some are now promising, we are seeing that cap and trade has contributed to the harm. For example, Spain has been cited repeatedly as the example of a successful clean energy economy and source of green jobs, but it is rarely mention that Spain currently has 18 percent unemployment.”

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