One of These Groups is Wrong About Climate Policy

One of These Groups is Wrong About Climate Policy

October 22, 2009
Originally published in The Wall Street Journal

I would like to add a point to your editorial "Apple, Nike and the U. S. Chamber" (Oct. 14). In supporting energy-rationing legislation, Apple and Nike are as you observe being short-sighted about their own interests because they neglect to consider that the next step after enacting cap and trade will be tariffs on goods produced in countries that are not reducing their greenhouse gas emissions enough to satisfy the global-warming alarmist establishment. This will include those countries in which Apple and Nike manufacture their products.

Additionally, however, Apple, Nike and their ilk have failed to consider the effects of continually increasing energy prices. Higher energy bills will mean less money in people's pockets to spend on things like Nike shoes and Apple iPhones. A cap-and-trade energy-rationing scheme will constrain economic growth for decades. It would be a great step forward if more company CEOs, would follow their own self-interest, realizing that few companies prosper when the economy is in the doldrums.