What will be the effect of capandtax on unemployment, trade deficit, and carbon dioxide emissions?
Posted on November 13th, 2009 by admin
Currently US produces 100,000,000 ton of steel. For each 1 ton of steel 1 ton of carbon dioxide is released. The industry employs 100,000 workers and pays good union industrial wages. Net revenues $10 billion.
In China there is no capandtax, and due to obsolete technology each 1 ton of steel produced 2 ton of carbon dioxide is released.
Please estimate the effect of capandtax on all three:
1) US unemployment
2) US trade deficit
3) carbon dioxide emissions worldwide.
US steel prices will go up.
China steel prices will remain the same.
China will corner the market on steel production.
US steel will go out of business, 100,000 unemployed workers. $10 billion less in US revenue (damaging economy) and carbon dioxide production will raise from 100,000,000 tons to 200,000,000 tons per year when Dirty Chinese factories take over the steel production.
And the US trade deficit will increase by Billions.
November 13th, 2009 at 9:44 pm
up, up, and nothing
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November 13th, 2009 at 10:21 pm
The emissions world wide will drop no doubt.
Unemployment will likely rise.
Trade deficit will likely rise.
But it is the right thing if you respect the environment.
And if you respect free trade you should not protect your Industries.
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November 13th, 2009 at 10:47 pm
Adios to high paying jobs for Americans. China and India will love to build factories making steel and steel products and burning coal.
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November 13th, 2009 at 11:13 pm
US steel prices will go up.
China steel prices will remain the same.
China will corner the market on steel production.
US steel will go out of business, 100,000 unemployed workers. $10 billion less in US revenue (damaging economy) and carbon dioxide production will raise from 100,000,000 tons to 200,000,000 tons per year when Dirty Chinese factories take over the steel production.
And the US trade deficit will increase by Billions.
References :
November 13th, 2009 at 11:52 pm
I think you mean cap and trade
1) Skyrocket due to increase cost of production
2) Skyrocket due to our steel suddenly becoming much more expensive causing us to buy foreign because it’s cheaper
3) Nothing, remember global temperatures rise before CO2 rises, not before. Independent research by a retired chemical engineer has found that we are in a CO2 deficit, too many trees not enough CO2
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