Cap-and-trade creates absurd, perverse incentives – so let's hide them.

You could say this is the ninth or tenth red-flag to go up, warning of the perverse incentives created by President Obama's cap-and-trade program: 

Agriculture Secretary Tom Vilsack has ordered his staff to revise a computerized forecasting model that showed that climate legislation supported by President Obama would make planting trees more lucrative than producing food…

[T]he economic forecast predicts that nearly 80 percent of [carbon] offsets would be earned through the planting of trees, mostly in the Midwest, the South and the Plains states. The American Farm Bureau Federation and some farm-state Republican lawmakers have complained that the offsets program would push landowners to plant trees and terminate their leases with farmers.

Why do all of the work and spend all of the money involved in agriculture when you can just plant trees and make more money?

American agriculture is already riddled with subsidies and perverse incentives designed to enrich agribusiness. Instead of working to eliminate them, President Obama prefers to manipulate the economic model, change the facts to suit his policy, and create yet another subsidy and another perverse incentive.

Beltway ConfidentialUS

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