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U.S. Treasury: The Costs of Cap and Trade, $1761 per year per household.

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Watts Up With That?
Thursday, Sept 17th, 2009

Documents (link to PDF) obtained from the U.S. Treasury under the Freedom of Information Act by the free-market Competitive Enterprise Institute were released on Tuesday.

The U.S. Treasury Department admits that a “cap and trade” system for regulating greenhouse gas emissions could cost every household $1,761 a year. According to the CBS News story, “the equivalent of hiking personal income taxes by about 15 percent”.

This comes in way over claims that the EIA says:

The Climate Bill Will Cost You Just 23¢ a Day, EIA Analysis Shows. This works out to $83.95 per year. Big difference.

CEI Director of Energy and Global Warming Policy Myron Ebell on the accumulating evidence on the costs of cap and trade:

“The bill’s proponents talk about protecting consumers while intermittently acknowledging that cap-and-trade can only reduce greenhouse gas emissions by dramatically raising the price of energy derived from coal, oil and natural gas.

President Obama said during the campaign last year that ‘under my plan of a cap-and-trade system, electricity rates would necessarily skyrocket.’ Dr. Peter Orszag, now head of the White House Office and Management and Budget, testified last year when he was head of the Congressional Budget Office that ‘price increases would be essential to the success of a cap-and-trade program.’”

U.S. Treasury: The Costs of Cap and Trade, $1761 per year per household. 290509banner

This article was posted: Thursday, September 17, 2009 at 9:45 am





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