It was in a post I saw over the weekend at Gateway Pundit. Seems that President Obama is planning on getting the ball rolling this week on his cap-and-trade carbon plan to fight "global warming." It will, among other things, put punitive taxes on coal, which is used by many power plants to generate electricity. A Department of Energy study shows that the cost of coal for power generation could go up by between 161% and 413%. This would not only cause up to 4 million people to lose their jobs, increasing unemployment by 2.7%, but also would cause the electric bills of most Americans to skyrocket: They could double, triple, quadruple or even quintuple! Businesses would also be affected and would have to pass on the additional costs to their customers. Inflation would skyrocket as well. You think the economy is bad now? Watch what happens if this cap-and-trade plan is implemented. The economy took a major hit when gasoline went from $2.00 to $4.00 per gallon over a couple of years. What do you think will happen if electricity costs increase to something between two and five times their current rates, virtually overnight?
A lot of people are all in favor of "saving the planet," but how are they going to feel about it when their electric bill is almost as much as their mortgage or rent? Are they going to care about "saving the polar bears" when old folks on fixed incomes start dying because their power is cut off when they can't pay their bills, like that old codger in Michigan who froze to death a few weeks back? If Obama pushes this abomination through, I predict a run on tar, feathers and pitchforks among the citizenry.
