James K. Glassman wrote:
> The Europeans were after something more: an economic edge
> over the U.S. Without sinks and trading, the U.S. could meet the Kyoto
> targets only by sharply increasing the price of fossil fuels. Gasoline
> would rise by 50 cents or more a gallon;
Gasoline cost per gallon is about 200 cents higher in Europe than in USA,
yet the European economies still don't seem to crumble, so I guess the USA
could live with a 50 cents increase. Even with this, the *USA* would still
have a significant "economic edge" over *Europe* -- not vice-versa !!
> the cost of running industrial
> plants and energy-hungry computers would soar.
I thought industrial plants and computers run on electricity, not gasoline.
There are lots of other (even cheaper) ways to produce electricity than by
burning gasoline.
> According to a consensus of
> projections, the growth of gross domestic product in the U.S. would be cut
> by more than half as businesses moved offshore to escape the high tax.
Is there any country they could move to (i.e. where gasoline is even cheaper
than in USA) ?
Chris
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Burn fat not oil -- ride your bike.
