I'm Pete du Pont with the National Center for Policy Analysis. Some people collect stamps. I collect reasons why the Kyoto Global Warming Treaty would be a disaster, and I recently acquired a wonderful new addition to my collection.
It's a report commissioned by six minority political and business groups. They discovered the treaty, which would reduce greenhouse gases, would be a disaster for American minorities. To meet emission targets, the U.S. would have to cut its use of fossil fuels. Guess who'd suffer?
The earnings of 25 million Black and Hispanic workers would fall by 10 percent or more. More than 860,000 Black and 500,000 Hispanic workers would lose their jobs. Why? Because developing countries aren't required to cut emissions under the treaty, so American companies could then move jobs overseas to countries that can pollute to their hearts content. Companies could reduce salaries and benefits to unskilled workers in America, or just cut their jobs altogether. Either way, minority workers lose.
Kyoto is a bad deal, and more people are starting to realize it.
Those are my ideas, and at the NCPA we know ideas can change the world. I'm Pete du Pont. Next time, vouchers — literally — pay off.