I didn’t realize how much of this was redundant when I wrote it because I had not read James’ pasts, but I’ll keep it.
“[U]nder my plan of a cap and trade system, electricity rates would necessarily skyrocket.”
— Barack Obama, 2008 (click here to see video of Obama saying it, this quote is about 40 seconds into it, but the whole thing is only 2 minutes. If you watch the whole thing you can give his points a much fairer evaluation and rejection, knowing you didn’t get him out of context in any way)
Take action now by clicking here to tell your senators to vote it down regardless of amendments.
Below is part of Senator Kay Bailey Hutchinson’s response to an email about cap and trade:
Some Members of Congress have expressed their intent to mandate a cap-and-trade policy to be imposed on all Americans. I believe that cap-and-trade would increase energy prices. In 2008, Peter Orszag, who then served as the Director of the Congressional Budget Office, and who now serves as the Director of the Office of Management and Budget, testified before the U.S. Senate’s Committee on Finance on the implications of a cap-and-trade regime. In his testimony, Director Orszag stated, “Under a cap-and-trade program, firms would not ultimately bear most of the costs of the allowances but instead would pass them along to their customers in the form of higher prices.”
For this reason, I believe that a cap-and-trade approach to address climate change would be onerous and would adversely impact the economy. It could create economic hardship for farmers, ranchers, workers and small businesses, in addition to consumers. The last thing our nation needs during this time of economic hardship is higher energy prices and higher levels of unemployment due to a federal mandate passed down from Washington.
–posted by Samuel Peck