More disastrous results :
* Consumers would pay through the nose as electricity rates would skyrocket by 90% adjusted for inflation.
* Inflation-adjusted gasoline prices would rise 74%
* Residential natural gas prices by 55% and the average family’s annual energy bill by $1,500.
* Hit hardest by all this would be the “95% of working families” Obama keeps mentioning as being protected from increased taxation. They are protected, that is, unless they use energy. Then they’ll be hit by this draconian energy tax.
* The American Farm Bureau warns that cap and trade would cost the average farmer $175 on every dairy cow and $80 for beef cattle because the regulations would cover the emissions of barnyard animals, including the methane from cows.
And what would we get for all this pain? The reduction of U.S. CO2 emissions to 83% below 2005 levels by 2050 — the goal of the Waxman-Markey bill — would reduce global temperature in 2050 by a mere 0.05 degree Celsius.
Not to worry!! The Clean Energy Act includes a new, 52 week unemployment program. It’s called Climate Change Benefits. It’s modeled after Trade Act Benefits. It reads like an April fools joke, but it’s actually in the bill.
Don’t forget, every business will pass on their costs to the consumer, so that everything will skyrocket in price.