“Under my plan of a cap and trade system electricity rates would necessarily skyrocket. Businesses would have to retrofit their operations. That will cost money. They will pass that cost onto consumers.”
Senator Barack Obama
Speaking on his energy policies
San Francisco Chronicle
January 17, 2008
Barack Obama admitted in an interview with The San Francisco Chronicle during the 2008 campaign that cap and trade energy policy would “cause electricity prices to skyrocket.”
Via Special Report with Bret Baier
Indiana Republican Governor Mitch Daniels attacked Democrats today for the massive Cap & Tax bill that will decimate the US economy and cost American families $700 to $1,400 per year.
Real Clear Politics reported:
Republicans on Saturday attacked the climate change proposal crafted by congressional Democrats and endorsed by President Barrack Obama as doing little to reduce global warming while saddling Americans with high energy costs.
Indiana Gov. Mitch Daniels, in the GOP’s weekly radio and Internet address, called the House climate bill “a classic example of unwise government.” The address culminated a week of coordinated Republican attacks on the Democratic proposal which would require the first nationwide reductions in carbon dioxide and other greenhouse gases blamed for global warming.
GOP House members used the weeklong Memorial Day congressional recess to drum up voter opposition to the Democratic bill. The governor’s criticism echoed Republican lawmakers’ arguments at “energy summits” in Pennsylvania, Indiana and California and at other forums during the week.
The proposal to cap greenhouse emissions “will cost us dearly in jobs and income and it stands no chance of achieving its objective of a cooler earth” because other nation’s such as China and India will not have to follow, argues Daniels, according to a transcript of the Saturday address.
“The cost for all American taxpayers will be certain, huge, and immediate. Any benefits are extremely uncertain, minuscule, and decades distant,” maintains Daniels.
The climate bill would require a 17 percent reduction in greenhouse gases by 2020 and 83 percent reduction by mid-century. It advanced from the House Energy and Commerce Committee shortly before lawmakers left Washington for their holiday break, getting only one GOP vote.
House Speaker Nancy Pelosi has said she wants to take up the measure in the full House this summer.
“The national energy tax imposed by Speaker Pelosi’s climate change bill would double electric bills here in Indiana, working a severe hardship on low income families, but that’s only where the damage starts,” says Daniels. “In a state where we like to make things, like steel and autos and RVs, it would cost us countless jobs. … Our farmers and livestock producers would see their costs skyrocket. and our coal miners would be looking for new work.”
FOX News has more on the GOP address.
