-By Warner Todd Huston
Even as the Japanese have abandoned its national emissions trading scheme because they’ve realized how many jobs would be lost as a result of the draconian regulations involved, President Obama continues to claim that he wants to impose similar jobs-killing regulations on America.
Japan initially announced that its national carbon trading scheme was to have been approved in the now concluding parliamentary session. But common sense and business interests have delayed the bill until the next session begins in January putting the future of the law into question.
Japan’s National Strategy Minister, Koichiro Gemba, who was appointed to review the government’s core green policy steps, said the trading scheme needed further careful study, indicating that it had effectively been shelved.
Japanese authorities are coming to realize that the emissions cuts that the island nation had imagined it would achieve will cost jobs and severely hamper their business sector. Stark realizations are dawning on the Japanese that emissions goals would be “nearly impossible to meet” without deep cuts in emissions by manufacturers, the power infrastructure, not to mention homes and business buildings.
Yet, even as the much smaller nation (it’s either the 2nd or 3rd largest economy in the world) of Japan is coming to realize that cap and trade ideas are ruinous President Obama who captains one of the largest economies in history seems hidebound on pushing the destructive ideas on the U.S.
Not only is Obama pushing this jobs-killing scheme, he intends to ignore Congress and the voters by going around both by using his power to implement regulatory changes to impose the rules on the country by fiat instead of going through the legislative process.
Obama’s Environmental Protection Agency (EPA) has announced that it intends to force greenhouse gas emission regulations starting on January 2. But Republicans are vowing to block the EPA’s power grab as early as possible.
GOP lawmakers have already launched a series of efforts to hamstring the Environmental Protection Agency — and that’s before the rules have even officially kicked in. Those efforts are expected to increase in frequency and in force in the next Congress as Republicans claim the House majority and industries continue to lobby against the greenhouse gas regulations.
Michigan’s Representative Fred Upton (R), who is about to take the chairmanship of the House Energy and Commerce Committee, is warning that Obama’s power grab will hamper any economic recovery we might be seeing soon. Saying that the EPA is placing “its foot on the throat of our economic recovery,” Upton plans to block the EPAs powers as soon as he has the capability to do so.
Still, Obama has passed his regulatory changes and ostensibly every American business affected will be forced to spend millions to change their emissions by adding new machinery and modifications to curb emissions. These rules will eliminate any thought of business expansion and will certainly not spur businesses to hire new permanent workers.
The sad thing is that the second biggest economy in the world has realized how destructive these foolish emissions schemes are yet Obama intends to hobble the largest economy in the world with the same absurd policies.