Palone's Comments


Palone's Comments, Comments on Energy Issues and other issues of interest.

Written by:
Bill Palone

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Fri, 19 Jun 2009

The Cost of Cap & Trade

The wonder of Cap & Trade, never fails surprise me. The gall of our elected employees to think that we, their employers, are so stupid that we won't see Cap & Trade for what it really is, is just astounding. This is to be the funding source for socialized medicine and we are not supposed to notice the increase in our cost of living and the accompanying loss of jobs.

Here are some numbers from 'The climate bill's costs' in the June 8, 2009 edition of the Oil & Gas Journal. The GDP will decrease by 9.6 Trillion, that is ... what about 4.5 times the anticipated deficit for this year. Along with that it will destroy 1,105 jobs. Increase electricity rates by 90% and that doesn't include any price increases due to shortage of fuels to generate it. Raise the cost of gasoline 74%, again this doesn't take into account increases due to increased crude prices. Residential natural gas will go up by 55%, again commodity prices are not considered.

This looks like a wonderful way to demonize the energy industry. We all know just how popular we are any way. Then they can nationalize the industry because we are being just to greedy and the American public will cheer them on. So, the cost of Cap & Trade for the energy industry may be everything.

We need to do everything possible to get the word out to the public about the cost of Cap & Trade. We also need to let our elected officials know just how detrimental this legislation will be to America, its economy and energy security.

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