Here’s the long and short of this “comprehensive energy plan” they want to pass: For 40 years, no President has “found” a solution getting us off of oil. The Free Market has no desire because most believe oil isn’t near its peak point. SO the Democrats want to put ENORMOUS tax increases on all carbon based energy (your… monthly electric bill and gas) to outrage you at the price of oil, forcing the government and major corporations to immediately find solutions to lower the price. There is NO plan to get us off any oil at this moment.
The logic linking cap-and-trade to the spill in the Gulf should frighten anyone who owns a car or truck. Such measures force up the price at the pump — Harvard Kennedy School’s Belfer Center for Science and International Affairs thinks it “may require gas prices greater than $7 a gallon by 2020” to meet Obama’s stated goal of reducing emissions 14 percent from the transportation sector.
Of course, doing so would reduce gasoline use and also raise market share for hugely expensive alternative fuels and vehicles that could never compete otherwise. Less gasoline demand means less need for drilling and thus a slightly reduced chance of a repeat of the Deepwater Horizon spill — but only slightly. Oil will still be a vital part of America’s energy mix.