Cap-and-trade will be costly

In a January 2008 interview, candidate Obama said, “(In) my plan of a cap-and-trade system, electricity rates will necessarily skyrocket.” Cap and trade is nothing but a tax on energy. Recently, President Obama’s cap-and-trade tax economist testified that family energy costs would triple, possibly quadruple, in line with estimates by non-government economists. Global warmers want to reduce the U.S.’s carbon footprint, even though the latest 20-year data show the earth is cooling.

If your family now spends $200 per month on electricity, natural gas, heating oil and gasoline, within three years your costs will be $600 to $800 per month. Prices of U.S.-made products will increase 10 percent to 60 percent. China and India, the world’s greatest polluters, will have none of this suicidal tax. U.S. businesses will not be able to compete, will go out of business or move overseas. The Senate Democrats have removed the tax from the 2010 budget but will introduce separate legislation.

No, there won’t be millions of new green jobs. All wind turbines and most solar panels are made overseas where the technology is already patented.

If unemployment is high now and times are tough, wait a bit.

Bob Foster

Spokane