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July 6, 2010

Why has BP endorsed the cap & trade bill?

The political class has been trying to exploit the BP oil spill as an argument for passing the cap & trade bill. But if that really made sense then why has BP endorsed the bill?!

Please bring this inconvenient truth to the attention of your Congressional representatives. Send them a letter opposing cap & trade.

You may borrow from or copy this sample letter . . .

BP is justly criticized for its handling of the Gulf oil spill. But it’s dishonest to use this tragedy to promote the cap & trade bill.

In fact, BP has endorsed the bill!

And it’s no wonder. The Kerry-Lieberman American Power Act (APA) is little more than a corporate welfare scheme.

* BP would benefit from greater highway subsidies that encourage more driving and oil consumption
* BP would also benefit from subsidies for coal-fired power plants that switch to gas

Shell and Conoco have also endorsed the bill, among many other corporations. As the Wall Street Journal put it, “Every business or interest that could afford a half-competent lobbyist stands to benefit” from the APA.

This bill . . .

* Helps the nuclear industry through loan guarantees, tax breaks, and insurance subsidies
* Subsidizes dubious “clean coal” technology
* Subsidizes the conversion of vehicles from gasoline to natural gas
* Is loaded with tax breaks and special favors
* And won’t do much to reduce CO2 emissions – which are already declining without government help

Just as Congressional healthcare reformers rhetorically scapegoated the insurance companies but ultimately rewarded them, the same thing is happening with Congress’s cap & trade legislation.

Since you’ve listened to the lobbyists, now it’s time to listen to me:

Stop the subsidies! End corporate welfare!

If you believe that CO2 emissions cause global warming, reductions can be achieved with a carbon tax that’s offset by eliminating other taxes. That’s all the incentive industry would need to switch to cleaner energy sources. No government subsidies are needed. Cap & Trade is a corrupt scheme that transfers wealth from taxpayer to some of our most profitable corporations. You must oppose it.


You can send your letter through’s Educate the Powerful System.

And we invite you to spread the word! Forward to friends and “Digg” this message on our blog.

Jim Babka
President, Inc.

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