Beam me to Planet Gore !
Posted on 10/28/2009 11:34:22 AM PDT by markomalley
Domestic oil refiners kept up their attack of climate legislation, saying a Senate bill under consideration could increase gas prices.
Domestic oil refiners kept up their attack Wednesday of climate legislation, saying a Senate bill under consideration could increase gas prices.
The group, among the fiercest critics of the measure, said the proposal could add 77 cents a gallon, or around 30 percent above today’s prices.
Democrats on a key Senate panel shot back, saying the industry’s estimate is based on an inflated projection of the price of permits companies will have to hold to cover their carbon emissions. A cost containment mechanism will keep the price from approaching the industry’s estimate, supporters said.
The lawmakers said the bill will spur industry innovation and that will create millions of new “green” jobs.
The chief complaint from refiners is that they wouldn’t get enough free pollution allowances to cover emissions they are on the hook for under the legislation. The Senate bill would give refiners 2.25 percent of the allowances available to cover emissions at their plants. But the industry is also responsible for the emissions from vehicle tailpipes.
To make up the difference, refiners would have to buy emission permits on the market created under the legislation.
(Excerpt) Read more at thehill.com ...
Brilliant economic expertise.......is there ANYTHING that Obama has planned to do to America’s citizens that will NOT raise our cost of living and confiscatory taxation levels??
If you think of anything they've missed, I'm certain he and the Democrats would love to hear from you.
If anything, the estimate of the executives of the refining induatry is probably too LOW, as in addition to the actual costs for the permits, there will also be endless lawsuits brought by “interested” third parties, attempting to stop the construction of any new facilities altogether, while preventing access to and operation of the already existing facilities.
The objective is complete shutdown of all refining capacity.
So we shall have to depend on some overseas facility for refined products, and import almost our entire supply of gasoline, Diesel fuel and heating oil.
Anybody familiar with the saga of John Galt?
He promised this during the campaign - his followers chose to ignore it. It would almost be rewarding to say “I told you so” except that they’re pulling the rest of us down with them.
Restrict production of a high demand product an prices increase? The heck you say!
This turd should be called “Cap and Extortion”.
"Domestic oil refiners kept up their attack of climate legislation, saying a Senate bill under consideration could increase gas prices."
Who knew?? LOL
Leave it to a RAT to sh-t on the country at large. Using ‘’fairy-tale’’ stuff to punish women and children most.
My!! How strange !! : )
OZAMO hisself has sad dis!!!
It will cost each family just pennies a day according to the stupidest woman in the Senate.
You don't expect those 3rd world UN dictators to earn their own money, do you?
It must be stolen from filthy capitalists, white American ones perferably...
I am one of the millions of Soc Sec recipients who have worked since I was 16- and am almost 70.
MY income for the next 2 years is frozen- thanks to The One in the Oval Office.
Yet- my cost of living is going up each and every day.
Gasoline-house insurance (12%) power-(who knows)-tires-replacement parts on my car—food everything.
For those who thought it would be credible to put a black man into the White House- I have some very harsh words for you voters, which I cannot say here.
Anybody familiar with the saga of John Galt?’
I read that book Dec of 2008 for the 8th time. Must be time for another review.
Reminds me to dust off my old copy. They’re saying rain this weekend in Maine; I certainly won’t complain. The quiet time invigorates my brain yet again.
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