Friday night, Sen. Barbara Boxer issued an updated version of the Kerry-Boxer climate bill, and the more we learn about this bill, the more it resembles Waxman-Markey--only worse.
It will impose even greater costs on the economy and distribute those costs just as inequitably. It promises more consumer pain but also imposes much greater burdens on some parties than others. Farmers, truckers, airline passengers, families and all businesses that rely on petroleum fuels will be the clear losers, paying the lion's share of the costs.
Although the committee has been slow in releasing details of the legislation, making it difficult to analyze the costs, the close similarity to Waxman-Markey suggests the costs of Kerry-Boxer would be at least as great, including gasoline and diesel prices that cou... more »