Cap-and-Trade Bill Would Make Housing Less Affordable

Wall Street Journal ^ | JULY 21, 2010 | WENDELL COX AND RONALD UTT

[rhema]

In addition to the devastating economic effects of cap and trade, the Clean Energy Jobs and American Power Act (S. 1733)—introduced by Senators John Kerry (D–MA) and Joseph Lieberman (I–CT)—would likely lead to the same conditions that caused the housing bubble of a few years ago.

It would do this by providing financial incentives to the federally funded metropolitan planning organizations to shift transportation resources and passengers away from automobiles to public transit and forms of non-motorized transportation such as walking and bicycles. The bill further suggests that these be accomplished through "zoning and other land use regulations" that lead to a more crowded living environment. In turn, these communities of higher population density would be more amenable to forms of transportation common in the decades prior to the invention of the internal combustion engine.

The purpose behind the Senators' attempt to foster archaic living and travel arrangements (often called "smart growth") is the belief that this would lead to lower greenhouse gas (GHG) emissions. As it turns out, there is scant evidence to suggest that this would be the consequence of such a strategy, and what evidence there is indicates that the Senators are proposing that Americans trade an empty gesture on the environment for a program that would contribute to restoring house prices to the unaffordable levels reached in 2006–2007.

What the Evidence Shows

Although the academic and the consulting communities are just beginning to investigate the influence of land use and transportation options on GHG emissions and other energy-related measures, findings to date—including studies and reports from the National Academy of Science (NAS), Demographia, Apt Associates Inc., the U.S. Department of Energy, and data from[1] the Australia Conservation Foundation—suggest little or no impact of tighter land use regulations or densification on energy use or GHG emissions.

[freekitty]

Another phony bill to implement their real plan without telling us.

Does anyone realize this will not change their lives; only ours; except the theft of our money will be at an all time high?

I would love to see some jail time for some of the Congress critters.

[Gaffer]

Why would Obama voters (aka idiots and leeches) care? Obama gots a stash! Obama gonna pay they rent! Obama gonna pay they car payyyymennnt! Obama gonna pay they grocerie! Obama gonna buy they lotto and Newports! 40s for all!

[oyez]

Cap ‘n’ trade would make everything less affordable.

[steelyourfaith]

 

Beam me to Planet Gore !