Chairman Frank Lucas today released the following statement on Scott O'Malia's last day as Commissioner of the Commodity Futures Trading Commission (CFTC). Last month, O’Malia announced he would resign to pursue other opportunities.
Lucas Further Emphasizes Cap & Trade Concerns
Tamara Hinton (202) 225-0184
WASHINGTON – Today, Ranking Member Frank Lucas is featured in an article with Jim Wiesemeyer, Senior Vice President of Farm and Trade Policy at Informa Economics, Inc. The article can be found at www.agweb.com. An excerpt of the interview is below with permission of Pro Farmer and Informa Economics. In the interview, Ranking Member Lucas further emphasized his concerns about cap and trade and its impact on our economy.
“My perspective goes back to the whole issue of global warming. If you want to assume the climate is changing and if you further want to assume that the gas emissions of the people of this planet are driving this climate change, then you have to next assume – and we’ve got several assumptions to get here – you’ve got to assume that by changing human patterns, conduct and industry, you can change the weather or change the global patterns.
“The next question is how you do it in a way where you get the whole planet to make enough of a difference to change things. In good faith, I cannot impose a tax regime on the American people that dramatically raises their cost of living, dramatically reduces the industrial activity in our country and their standard of living perhaps, while at the same time whether it is mainland China or India they belch out more crud in the air and offset what we reduce. That’s just a transfer of wealth, a transfer of standard of living. I know my idealistic colleagues say, ‘You’ve got to set a standard for the world.’ But I will not make my citizens poor – poorer – so someone else can get richer, and then once they have achieved whatever standard they want, they decide to play with us. I can’t jump off the cliff by myself.
“It goes back to the old discussion years ago on the great economic pie of life. Do you want to reslice the pie or do you want to grow the pie? I’m in favor of growing the pie. I think we could aggressively address these issues through positive incentives – expansion of wind power, solar power, putting more dollars into clean coal… those kinds of things,” said Ranking Member Frank Lucas.