13 CENTS?
Ha!
I’m betting it will be closer to $2!
Duh. Corporations do not pay taxes. Legislation which levies taxes on corporations simply succeeds in passing those costs to the consumers. Every corporate tax is a tax on the man in the street.
If Reuters says $.13 a gallon it will be more like %$5 a gallon. The euro libs and US libs who admire them just can’t stop resenting the fact that the USA folks don’t pay $8-$11 for a gallon of gasoline like the european sheeple do
More like 1 to 5 dollars per gallon.
I have ALREADY lost my job in the American oil and gas industry, while Obama pours US taxpayer billions into BRAZILIAN drilling! Thanks a lot, Congress!
A. That is a first year estimate only, which does not include the more draconian effects of the proposed legislation in future years.
B. Point Carbon is an investment-company-owned "advisory" group headquartered in Norway that seeks to promote carbon credit trading, on which they hope to invest and profit.
For what it's worth: among their owners are Oak Investments (a European-based venture capital company), JP Morgan (the huge investment firm) as well as a Japanese utility, a Japanese bank, and a Norwegian media company.
If the Obama admin goes forward with this, and I’ll bet The Great Spreader would love to, you’ll see his numbers drop even further. He’ll try to blame Bush for this one too. But it won’t wash. He might try to wait until after next years elections...or even after the 2012 election. If he can get re-elected which might seem doubtful.
Whatever the left and their friends estimate, you can safely multiple that by 3 to 10 times to get an accurate estimate.
Cap and tax will double your electric bills, double the cost of natural gas, and add at least $1 per gallon of gas.