On June 26, 2009, the House passed the “Cap and Trade Act” by a vote of 219 – 212. Three Representatives did not vote. 8 Republicans voted yes. 44 Democrats voted no.
Unfortunately, neither your representative nor mine actually READ this 1,500 page document. An additional 300 pages of amendments were added at 3:00 am on the day of the vote. The problem is, no copies were available to be read by anyone prior to the vote. Once again, legislation passed through Congress that no one had read.
So, what can you look forward to as a result of this act? For one, and this is straight from the horse’s mouth: “When I was asked earlier about the issue of coal, you know, under my plan of a cap and trade system, electricity rates would necessarily skyrocket. Even regardless of what I say about whether coal is good or bad. Because I’m capping greenhouse gases, coal power plants, you know, natural gas, you name it, whatever the plants were, whatever the industry was, uh, they would have to retrofit their operations. That will cost money. They will pass that money on to consumers.” (Sen. Barack Obama, Interview with San Francisco Chronicle Editorial Board, 1/17/08)
This is, basically, a tax. Energy companies will pass the costs of these regulations to the consumer in the form of huge price increases. The consumer (that’s you and me) will pay higher gas and electric prices. In fact, any person or company using cars, trucks, planes, trains, heating oil, and other petroleum products will foot the bill.
Higher energy costs will drive up the costs of goods produced by American companies, sweeping American-made products (and jobs) from the market in the face of lower priced foreign-produced goods.
The New York Times quote on the European Union’s cap-and-trade program (that started in 2005) says it all: “Their plan unleashed a lobbying free-for-all that led politicians to dole out favors to various industries, undermining the environmental goals. Four years later, it is becoming clear that system has so far produced little noticeable benefit to the climate, but generated a multi-billion dollar windfall for some of the continent’s biggest polluters.”
Many representatives who pushed for this legislation own stock in natural gas and/or coal companies (including Nancy Pelosi). Al Gore, who also supported this tax, owns a venture capital firm that is heavily invested in a new software company that’s making software to help companies track their carbon footprint. He, and companies like his, will make a fortune.
Not only will this bill make politicians rich (and you and I poorer), it will increase their power as well. The government will control what you can and cannot do.
We all understand the need to control pollution. But at what cost to you and me? Call your Senator today and demand that they NOT support this outrageous tax bill. We can find a better way.