In an on-air interview with New Mexico Sen. Jeff Bingaman recently, I asked about the $800 billion, 30-year carbon cap-and-trade program he and other senators were considering. If you believe the projections about climate change, I asked, was it enough money? He said, it was a lot of money. But, I asked, if you are in a sinking ship, do you worry about the cost of life jackets? He said, it depends on who's paying the bill.
My thinking: That $800 billion amounts to $27 billion a year. Combine New Mexico state government, the two national labs and the military in New Mexico, and you digest virtually that entire amount. That doesn't even count the other 49 states. Now, the number becomes pretty small.
Our conversation is about 12 minutes into this audio file.
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