Cap And Trade Costs
The vote for the bill will be delayed until later in September, this is a good thing so we will have a little more time to let our senators know about the problems (namely taxes and increased costs) in the bill.
First here are the contact pages for Mark Warner and Jim Webb
Here is a very brief overview of the Bill
The supposed purpose of this bill is to limit or reverse global warming.
This bill would say CO2 along with 4 or 5 others gases are going to be classified as green house gases which means they will come under control and regulation of the EPA.
The bill is supposed to limit man-made greenhouse gases by instituting a declining cap on allowable emissions. This would mean that electricity producers, petroleum refiners, and natural gas distributors would have to obtain permits called “Allowances” from the Federal Government for every ton of CO2 (carbon dioxide) emissions they produce.
Each year the government will issue fewer allowances, this will FORCE the price of the allowances to go up as the demand for fewer and fewer allowances issued goes up. The cost of the allowance is a TAX.
As with any TAX on business it WILL be passed on to the consumer in the form of higher costs for things like electricity and gasoline, diesel fuel, heating oil, etc. The total value of the these allowances will be in the BILLIONS of dollars and by 2035 will have a total aggregate value (READ TAX) of $5.7 TRILLION DOLLARS. This will make this bill one of the largest new taxes in history, if not the largest!
Just to give a little background, Carbon Dioxide (CO2) is something that every living animal or human expels every time we collectively breathe… don’t sigh to deep or too long you will be contributing to global warming…
What is even more interesting is the fact approximately 95% to 99% of all CO2 production cannot be controlled by this cap and trade system.
The 2 biggest producers of CO2 are:
1. The Oceans they produce about 57% of all CO2 and
2. Normal breathing of all living species, including humans. This accounts for about 38% of all CO2 production. The only way I know to effect #2 is for a lot of people and animals to stop breathing. Sorry I’m being a smart aleck again. But I also guess we could plant more trees or plants.
Al Gore is running all over the world talking about global warming with a doomsday approach. But the impact we can make as far as CO2 production is very, very small.
Over 700 international scientists have said that the science being used warn of the impending doom is flawed or incorrect in its assumptions and consequentially the results. These 700 scientists have said that the cap and trade will have NO IMPACT on the earth’s global warming. Some of these scientists can actually PROVE that the Earth is cooling down and will continue to do so for the next 20 to 30 years.
The Sun has more impact on the earth’s cooling and warming cycles than humans do by way of sunspot activity.
While the Cap and Trade was being written, an EPA scientist wrote a paper saying that any regulation of CO2 would have no impact on Global Warming. That paper was suppressed by high ranking officials in the EPA because “The direction of the debate on Global Warming had been decided”.
What does all this mean for us? Well since you asked……..
BY 2035
- Gasoline (and for that matter all fuels will increase by 58% or at least $1.38 per gallon.
- Natural gas prices will go up by 55%
- Heating oil by 56%
- Electricity prices will go up by 90%
- A family of 4 will have to pay $1,241 per year for energy.
Including taxes, a family of 4 will pay an average of $4,609 more per year - That same family of 4 will have to reduce it’s consumption of goods and services by $3,000 as it’s income falls.
- The aggregate GDP of the country will fall by $9.4 Trillion dollars
- The aggregate Cap and Trade energy taxes will be $5.7 Trillion dollars
- Job losses will be nearly 2.5 million
- And the national debt will rise an additional $12,803 per person or $51,212 for that family of four.
(all these figures are from the Heritage Fountain)
All this for something that is based on flawed science and will yield very little to no positive impact on our environment. Hhhhmmmmmmmmm………. Remember don’t sigh be long.
Please write our Senators using the facts, and tell them we cannot stand ANOTHER TAX that will yield no benefit!!!
