“Cap-And-Trade” global-warming legislation that would — by President Barack Obama's own admission — “skyrocket” electricity rates as well as raise taxes on consumers narrowly passed the House of Representatives June 26 by a vote of 219-212. The legislation would levy new taxes and dramatic new regulations in order to cap carbon and other “greenhouse gas” emissions. Congressional Quarterly reported that eight Republicans who voted for the bill tipped the balance in favor of the legislation.

The Congressional Budget Office estimates that the bill would raise an additional “$845.6 billion over the 2010–2019 period” in higher taxes, which represents an average of more than $4,000 per household in America. However, neither proponents nor opponents of the bill claim to know the precise new cost of the legislation’s extensive regulatory burden. The regulatory costs are likely to dwarf the cost of new taxes.

Proponents of the bill claim that the groundbreaking new federal energy mandates about carbon emissions would create new jobs. “This is a jobs bill,” Edward J. Markey (D-Mass.) told Congressional Quarterly. “It will create millions of new clean energy jobs in whole new industries with incentives to drive competition in the energy marketplace.” President Barack Obama said in a statement on House passage that “it will make possible the creation of millions of new jobs. Now, make no mistake — this is a jobs bill.”

However, those claims by Obama, Markey, and others are based upon the dubious notion that huge consumer and corporate energy bills will create niche markets for energy-efficiency companies in the long run. In the short run, higher energy costs would drive up costs of goods produced by American companies across the market, and could sweep American-made products (along with American jobs) from the market when they face foreign competitors producing with lower energy costs.

"Today's razor-thin vote in the House spells doom in the Senate," Sen. James Inhofe (R-Okla.) told the Associated Press. Americans who want to avoid both higher taxes and what President Barack Obama admits will be “skyrocketing” utility bills should more than hope so.

Related articles:

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Whatever Happened to Global Warming?

Global Warming Skepticism



 

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AntonioSosa said:

Another giant step towards Marxism We need to congratulate all those who -- in spite of Obama's lies, manipulation, intimidation and bribes -- defended us from Obama’s jobs killing, economy killing bill! Corruption and coercion have reached levels previously seen only in Marxist dictatorships like those of Cuba or Venezuela. Obama’s Cap and trade is another giant step towards Marxism — and the corruption, poverty, enslavement, destruction and despair that Marxism entails. Obama is working much faster than Hugo Chavez at destroying the economy and imposing Marxism. No wonder the Russians are gloating: From Pravda: “…the American descent into Marxism is happening with breath taking speed, against the back drop of a passive, hapless sheeple, excuse me dear reader, I meant people…” http://english.pravda.ru/opini...pitalism-0 We are NOT hapless sheeple! We must do whatever is necessary to defend ourselves and our children from the Marxist dictatorship that’s being set up in Washington.

June 27, 2009

Lee Gonzales said:

It's off to the Senate We are stuck with two very liberal senators in New Mexico thanks in great measure to the betrayal of the conservatives in the Republican party by George W. Bush. Those eight years of deficit spending due to his war mongering and domestic giveaway programs; pro-open borders policy served to give the Obama liberals the edge in the House.

June 27, 2009

Arvizu said:

... My concern is for the young and elderly who reside in areas of extreme temperatures. Heat waves during the summer in the muggy Atlantic Coast and in the dry Southwest. Freezing snow storms during the winter in the Northeast and Midwest. If people now are dying because they can't afford the cost associated with higher energy usage, imagine the horror our future holds for Americans. We'll be sleeping in our clothes or thermals in sleeping bags during the winter like the Russians and North Koreans. And we'll be forced to lay out mattresses in our backyards just to deal with heat waves. Let the politicians know that they are selling out America and we will not let the elite use the masses like puppets.

June 28, 2009

Carlos said:

Fed's & Obama People have to understand Obama is just a tool for offshore banks including the federal reserve which has been given complete power over the US. The cap & trade is just one of many bills and laws that is transforming the US in a fascist country.

July 04, 2009