Economic Lunacy

North Carolina is facing the same bullet Maryland dodged when the Global Warming Solutions Act died in the House Economic Matters Committee this past legislative session.

The policy recommendations emanating from North Carolina’s Climate Action Plan Advisory Group are eerily similar to those recommended by our own Maryland Commission on Climate Change. Why is that? Well because they were written by the same Soros/Rockefeller/Heinz funded alarmist advocacy group the Center for Climate Strategies (CCS).

Carolina’s John Locke Foundation, a free market think tank, commissioned the Beacon Hill Institute to conduct a peer review of CCS’ economic analysis. CCS claimed that its policy recommendations would create jobs, benefit that state’s economy and help stop global warming.

Beacon Hill’s findings lay bare the fallacy of CCS’ claims.

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North Carolina would lose more than 33,000 jobs and face a $4.5 billion hit to its Gross State Product by 2011, if lawmakers adopt just a fraction of the policies under consideration now to address climate change. A Boston-based economist who has analyzed the policy proposals will deliver that message Tuesday to a legislative study group.The policies studied also would cost the state more than $502million in investment, lower real disposable income by $2.2 billion, and reduce state and local revenue by more than $184 million, said David Tuerck, chairman of the Suffolk University Department of Economics and executive director of the department’s research arm, the Beacon Hill Institute…

“You can’t create jobs that are good jobs — that are adding to the state economy — by shifting workers from more productive to less productive activities,” he added. “You can’t create good jobs, the kind of jobs you want to create, by increasing energy costs, by increasing the price of electricity, by imposing what amount to new taxes. This is not the way to create jobs. All these claims about job creation and the like are bogus claims and unsupportable by even the most naïve sort of economic analysis…

Saner heads may prevail in the Tar Heel state. In Maryland however, the environmentalists are looking to reload the clip and put two in the head of our state’s economy.

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