Cap and Trade - What it is Going to Cost You

Obama's Cap and Trade is a huge tax - I've already stated that. Well, here's some more proof ...

Cap and trade, essentially, is a plan to cap CO2 emissions from power plants. The government levies huge fees on those power plants for their emissions. If the plant can't meet the cap, then it can buy additional cap extensions from other power plants, or from the government.

The government keeps the billions of dollars it will take from power producers. Supposedly, some of that money is redirected into producing renewable energy sources. Some of the money is to be given to consumers, to offset the higher electricity bills they will receive as a result of the power plants taxes going up. Yeah, right ....

The Electric Reliability Council of Texas (ERCOT), a non-profit group made up primarily of power producers, has studied this and its impact on Texas. They conclude that in the absolute best case scenario, cap and trade will increase the average Texan's electric bill by $27 a month. Now that's not a one time jump, it's a permanent addition to the monthly bill.

By best case, I mean that other factors, such as the cost of natural gas, remain constant. The figures are hard to pin down. If natural gas, for instance, rises by 35%, then the bill increase doubles to $54 a month.

Renewable energy coming on line will have a negligible affect on these increases. If the maximum amount of wind turbines were brought on line, the highest number of units that can be supported by the Texas power grid, then the monthly bill increase drops to $22 a month.

"I am more concerned about climate change legislation than I am about climate change." -Texas Public Utility Commission Chaiman Barry Smitherman

Cap and Trade has two goals - First, to generate a tax revenue windfall for the Federal government. Second, to make energy so expensive that it will force consumers to use less.

This is Obama's energy plan .....

Cap and Trade is a Huge Tax Scam

In yesterday's final day of testimony before Waxman's Subcommittee on energy and the Environment, Rep. John Dingell (D-MI) candidly admitted that the key to Obama's environmental policy, something called cap and trade, is really a big new tax.

In this clip, Dingell outs it as a tax (even though no one in the administration is allowed to call it a tax), and then asks Algore whether he thought cap and trade or a straight carbon tax is better. Algore, not surprisingly, wants both. More taxes, more taxes, more taxes...

The scam of cap and trade is that the energy producers and users are supposed to pay the taxes to the government, which in turn will return it to the users to offset the much increased energy costs that will result from the taxes in the first place. What horsecrap. Does anyone in their right mind actually believe that Obama's government will give back tax money? Cap and trade is designed to punish energy producers and users financially, to hurt them so bad that it will force them to quit producing and using conventional energy sources. The far left hopes to use it to force the USA to develop and use more green energy sources.

The estimates I have seen show that cap and trade will double the costs of conventional energy - gasoline, heating oil, coal, electricity will all be twice as expensive as they are now, with all of the additional costs being in the form of taxes paid to the government.

The far left, as represented by Algore, wants even more carbon taxes heaped on our citizens, above and beyond cap and trade.

These people have no shame - they will not quit until everyone is turning 75% of their paychecks over to the government.