If a bill that comes out of Congress in June ever passes and is signed into law, then a new federal bureaucracy would be formed to manage the complicated new tax called cap & trade. This would be all to pacify the Global Warming pessimists here and abroad. And then to drastically raise taxes on gasoline. Can you say five to eight dollars a gallon? Does that sound like a plan to you? I certainly don’t think so.
Worried about gas prices hitting $4 a gallon and beyond? Imagine if they were $6, $7 or even $8 a gallon. Those levels are a certain possibility should Congress pass cap-and-trade legislation, which could face a vote in early June.
Oil is trading at record levels, in excess of $120 a barrel. Leading Republican Sens. James Inhofe (Okla.) and Jeff Sessions (Ala.) both told the Business & Media Institute (BMI) energy prices would drastically increase if the Lieberman-Warner Climate Security Act (S. 2191) is signed into law.
“The studies show it would be directly affected, would be a $1.50 a gallon, in addition to what it is today,” Inhofe, the ranking Republican on the Senate Environment and Public Works Committee, said to (BMI).
Inhofe spoke at a press conference at the National Press Club in Washington, D.C. on May 15 to introduce the “We Get It!” campaign – a program founded by evangelical Christians that question the merits of global warming pessimism. According to Inhofe, the bill will make it to the floor of the Senate on June 2.
“So now I think we need to concentrate on what it will cost the American people,” he said during the press conference. “To try to put it in a perspective people understand, if we had ratified, according to the Wharton School of Economics, the Kyoto Treaty, back five years ago, it would have cost about – between $300 and $330 billion – that was the range they had. This bill that’s up today is $471 billion – far more than that. And the question is, what do you get for it?”
Sessions, a member of the Senate’s Committee on Energy and Natural Resources, went a step further. He cited sources that suggest the increase could be as much as $5 a gallon.
I think that this is pretty ridiculous. Our children are going to become ever more lazy, because it will become to expensive to go on vacations, or to do any leisure activity. It will even get expensive to go to the grocery store.