Wednesday, October 28, 2009

Don Blankenship Op-Ed: 'No Harm from Cap and Trade? You Lie!'

/PRNewswire/ -- In an opinion piece published in The Hill newspaper, Don Blankenship, chairman and CEO of Massey Energy, recently quoted the "You Lie" outburst from Congressman Joe Wilson (R-SC) to characterize the current debate over cap-and-trade legislation pending in Congress.

"As chairman and CEO of Massey Energy, the nation's fourth-largest coal company, I aim to be as clear as Rep. Wilson relative to the theory of global warming," Blankenship said. "Speaking plainly and clearly is a rarity in politics and business -- particularly among CEOs of publicly traded companies."

Blankenship noted that many corporate executives privately acknowledge that global warming legislation will have a devastating effect on their companies. Yet these executives fear that if they express opposition to legislation like cap-and-trade, they will be subject to additional punitive regulation. Furthermore, Blankenship noted that corporate proponents of cap-and-trade are often motivated by personal gain or a desire to appear sophisticated.

"The truth about global warming alarmists in the business community who say Congress must pass laws immediately to stop the planet from warming is that they are driven more by pursuit of profit than pursuit of science and real atmospheric temperatures," said Blankenship. "These companies lie for profit and at the expense of American families' budgets, American's homeland security, and the quality of the world's air and water."

"You see, they know cap-and-trade will hurt the American economy," continued Blankenship. "That it will cost American jobs. That it will increase our dependency on foreign energy. And yes, they know that it will increase global pollution by moving production to unregulated countries like China. They also know the world is cooling. They know that cap-and-trade won't lower the earth's temperature. To those saying otherwise I say simply, 'You lie.'"

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