In a nutshell, cap and trade works this way. The federal government will place a limit on carbon emissions. If your business goes over you will pay a fine, you can offset your carbon limit by buying allowances from other people or nations. This will probably cause a shutdown of the economy and roll back investment in our nation. Most manufactures will leave to do business in countries that do not abide by our standards but still ship their finished products to the great U.S.A.
Why place carbon on the open market? Isn't having corn, wheat, natural gas, cotton, gold, silver, copper, stocks, bonds, currencies, oil, ethanol, soybeans, t-bills, heating oil and sugar on the open market good for trade and for interest in America?
My opinion is, lets comb this bill and look for benefits for South Dakota and America. If we tied all nations to this bill and said no access to the American market if you fail to abide. Our market is the one all nations look to do business with, lets us our buying power to our advantage.
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