President Barack Obama’s “cap and trade” energy tax plan is drawing a lot of negative attention this week — and for several good reasons!
Yesterday, officials at the American Petroleum Institute issued the following statement that is critical of the plan:
“The White House’s unofficial new estimate for the cost of capping the nation’s greenhouse gas emissions is shocking. The nearly $2 trillion in fees that would be imposed on the use of natural gas, gasoline, coal and other fuels would increase energy costs for all America’s businesses and families, keeping our economy in low gear, eliminating jobs, depressing living standards and putting our domestic energy industries at a competitive disadvantage. The massive fees could also increase reliance on foreign energy. The American people and lawmakers deserve to know the full costs of all serious options for addressing climate change before any new policy is enacted.”
Joining API in it’s criticism of the plan was Sen. James Inhofe (R-Okla.).
“There is nothing in it for taxpayers, consumers or the climate,” said Inhofe, Oklahoma’s senior U.S. senator in a post on this blog yesterday.
That was followed this morning by a well-researched article published on the Heritage Foundation web site.
Heritage backed up both the oil and gas industry experts at API and Senator Inhofe and issued some good advice:
Hold onto your thermostat as well as your wallet! Annual utility bills may rise $1,800 under President Obama’s “cap and trade” energy tax plan. That wipes out his pledge of a $800 a year tax cut for 95% of Americans.
Welcome to the land of hope and change!
2 responses so far ↓
1 Wayne Grant // Aug 10, 2009 at 9:49 am
In 64 years I’ve never been confronted with so many blatant lies by a sitting president. Hiding so many taxes, spending waste and give away stimulus packages and not one individual hard working American has seen nothing. Giving to the big banks and auto dealerships has done little more than strip my current earning even further. Some Americans got $250.00 while these institutions that rape us get billions. Something is very wrong with this picture and it is called Obamanomics. Nothing transparent about him or his followers.
2 hotoffthepress2 // Aug 10, 2009 at 9:53 am
Wayne — While I agree with you wholeheartedly, I trust you’ll understand that I have to report your “fishy” comments to flag@whitehouse.gov. All hail Obama!
Leave a Comment