“There is a group of people conspiring to make energy more expensive for Americans. That group is the U.S. Senate, and this week it will debate a bill that would impose a cap-and-trade system on greenhouse-gas emissions.”
That comes from our editorial today.
The Institute for Energy Research points out:
EPA concludes that Warner-Lieberman would result in annual reductions of U.S. gross domestic product (GDP) ranging from $238 billion to $983 billion in 2030, and from roughly $1 trillion to more than $2.8 trillion in 2050; gasoline prices would increase by $0.53 per gallon in 2030 to $1.40 per gallon in 2050; and electricity prices are projected to increase 44 percent in 2030 and 26 percent in 2050.