In America, the victory of environmental regulation seems to be a foregone conclusion for many of the nation's largest companies. Companies like ExxonMobil and Wal-Mart, which have typically had very strong ties to Republicans, are among those incorporating an internal form of a carbon tax into their long-term financial plans.
President Barack Obama approved an increase in the so-called “social cost of carbon” calculation to $38 a metric ton. This number is used by government bureaucrats to weigh the cost and benefit of proposed projects, regulations and environmental laws; all without the hassle of actually understanding economics
Forbes writer, Christopher Helman, believes that “this Energy Security Trust could well serve as the tip of a wedge that could some day lever open a new carbon tax.”
The White House continues to inch closer to a carbon tax. In Obama’s first post-election press conference, he dodged the question.
Average planetary temperatures haven’t budged in 16 years. Hurricanes and strong tornadoes are at or near their lowest ebb in decades. Global sea ice is back to normal, while the Antarctic icepack continues to grow. The rate of sea level rise remains what it was in 1900.
It’s a bad omen for free enterprise, prosperity and liberty when normally warring special interest groups such as big business and progressive activists agree on public policy.
As European leaders meet this week in an attempt to once again shoo reality away from the continent's respirator, countries outside the European Union are making it increasingly clear that they'll have no role in prolonging the charade.