Why is Bishop Hubbard supporting the disastrous "Cap-and-Tax" bill?

I strongly disagree with the prudential opinion expressed by Bishop Howard Hubbard:

"The US bishops have given their enthusiastic support to the Waxman-Markey bill, a piece of legislation designed to address climate change, which Republican opponents have characterized as entailing "the largest tax increase in American history."

The American Clean Energy and Security Act of 2009 proposes a complicated series of schemes known as "cap and trade," ultimately imposing taxes on the carbon-dioxide emissions that are cited as a major factor in global warming. Even before the 1,200-page legislation was made available to Congress, the members of the House of Representatives received a letter from two leading representatives of the American Church, giving their strong endorsement for the bill.

Bishop Howard Hubbard, who chairs the US bishops' committee on international justice and peace; and Ken Hackett, the president of Catholic Relief Services, welcomed the introduction of the Waxman-Markey bill." (CWNews)

I work in politics now. I know this is a bad, bad bill. It has a negligible effect on the environment (even environmental groups have admitted this!), it stresses an already deeply-weekend economy with more taxes and bureaucracy, it will result in more domestic job losses, and - perhaps most outrageously of all - will result in American dollars being spent to build foreign infrastructure at the expense of American private enterprise (the bottom line keeping our progressively-more-top-heavy government running in the first place)!

Just look at some indepentent analysis of this bill's effects:

"The Congressional Budget Office, in its analysis of the legislation, concluded that the Waxman-Markey bill would entail new costs of $770 a year for the average American family. A separate analysis by the Heritage Foundation suggested that this figure was grossly understated, and the actual costs would be closer to $3,000 per year for a typical family of four-- rising steadily up to $4,600 by the year 2035. The Heritage analysis added that the bill would increase gasoline prices by 58%, home heating oil by 56%, and electric rates by 90%. The total drag on the economy would likely result in a loss of over 1 million jobs, Heritage concluded. In spite of this enormous cost, the Foundation argued, the Waxman-Markey bill would produce only a miniscule effect on the process of climate change, producing a drop in world temperatures of "only hundredths of a degree Celsius" in the next 40 years."

So why on earth is Bishop Hubbard supporting this ineffective and harmful bill using the mantra of the US bishops? 

It lessens the effectiveness of the Church's voice on moral issues when one of its bishops so foolishly takes an imprudent decision on a practical one.