Beam me to Planet Gore !
Posted on 02/27/2009 5:10:36 PM PST by St. Louis Conservative
WASHINGTON -- The chief executive of Duke Energy Corp., one of the nation's biggest power companies and a major source of greenhouse gas emissions, said Friday that a proposal by President Obama to place a price on carbon emissions would drive up electricity rates in some areas of the U.S. by 40% and warned that it could also lead to "a redistribution of wealth" from Midwestern industrial states to coastal states.
Duke Energy CEO James Rogers said he was also concerned that some of the roughly $646 billion that Mr. Obama hopes to raise by making companies pay for the right to pollute would be diverted to causes unrelated to fighting climate change.
"My view is they'll try to use the money from Ohio and Indiana to subsidize the West coast and the Northeast and to use it for purposes that are different from addressing the climate issue," Mr. Rogers said Friday in an interview with The Wall Street Journal.
Mr. Rogers was referring to a provision in Mr. Obama's budget proposal that calls for the adoption of a cap-and-trade system in which the government would set limits on the amount of carbon dioxide and other greenhouse gases that industries can emit. Under such a system, companies would have to buy and sell rights to emit those gases.
Mr. Obama's proposal, which was released Thursday, projects that the U.S. government could raise roughly $645 billion from auctioning off emissions credits between 2012, when the system would kick in, and 2019. Mr. Obama's proposal calls for using about $120 billion of that revenue to pay for new spending on various low-carbon technologies. His proposal calls for returning the rest of the money "to the people, especially vulnerable families, communities and businesses to help the transition to a clean energy economy."
(Excerpt) Read more at online.wsj.com ...
I think it’s hard to narrow down but yeah, this one is bad. He will destroy the middle class. His plan is working.
So that means, here in Arizona, for my 1100s.f home, my summer bill will be what, 300-400 per month????
Climate Research NewsClick on POGW graphic for full GW rundown
Ping me if you find one I've missed.
This does nothing for the environment but it could finish off the middle class of Amerika.
Regressive tax on the poor.
The best thing that can happen is for Obama do what he said he wants to do and further keep America’s head under water. It’s the only way to fully expose how deadly leftist ideas are. There are tons of morons educated by the 60’s radicals that believe whta obama believe. Let Obama put it into action so these morons can see how wrong they really are as America plunges into a depression. The Dems will never win another election again assuming the PUBES finally stick to their free market ideals.
It'll be sunshine and rainbows for everyone, everywhere.
America wanted CHANGE... They are going to get it..
I understand what you are saying and how you feel. I am tempted to hope all the asinine ideas this Administration is proposing become reality just so I can say to my liberal family members “see I told you so” when they fail.
So I couldn’t sleep last night and tuned into Coast to Coast. There was a guest talking about privacy rights...she suggested that many states want residents to let power providers turn off certain appliances in homes “as needed”. Those who have tried it have hated it...air conditioners going off for hours during the summer and the like.
She said the government will implement a “carrot and stick” approach, and raise rates tremendously and then “discover” a way to reduce them...if people would just let Nanny State take over control of their power usage.
I am usually allergic to conspiracy theories, but this article makes me wonder.
Liberals must be filled with such ugliness to lust for control over the lives of others.
At least you have much cooler weather than we do. I see so many things (i.e. tax increases) being proposed this week that will force people out of jobs, homes, and then where does everyone go?
I agree. Until the patient knows he is sick, he won’t take his medicine.
I consider my suffering in the upcoming years as my patriotic duty, in order to allow the dolts around me to figure out how screwed up the Big O is.
No taxes on people who earn under $ 250,000.00 . Unless you drive a car, use electricity or fuel oil.
Sorry, I just had to edit this. Truth, justice, the American way, etc.
You will have to pay to be in the cap and trade program in order to emit greenhouse gases from your chimney.
“Regressive tax on the poor.”
Wrong, they will be compensated by tax credits on taxes that they don’t pay:)
Actually, I read that the “credits” mentioned above will phase out at the 105K tax return level - those people are “wealthy” enough to take care of themselves...
I hate this sh**. Reading this stuff every day may actually be making me physically ill. And to think that this is month 2 of 48.
Just how would that be quantified? I don't make a fire in the fireplace very often. It happens on a few cold nights when we have nothing else going on and time to enjoy a good movie in front of the fire.
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