Thank Patrick Kennedy for increased energy costs
Representative Patrick Kennedy left a treatment center yesterday in order to make it back to Washington to vote on the climate bill House Speaker Nancy Pelosi rammed through the House. Kennedy left at the urging of House leadership, and will head back once his vote is cast.
The climate bill will cut greenhouse gas emissions by 17 % by 2020, and by 83% by mid century. That sounds impressive, but it will actually accomplish so much more. For example, according to the Environmental Protection Agency, the average consumer will pay between $80 and $110 more per year for energy, while the Congressional Budget Office estimates the amount to be closer to $175 per year. Barack Obama says it will cost an average American the cost of a postage stamp, which comes out to roughly $160 each year. Of course, I wouldn't put much stock in his estimates. After all, this is the same person who said his healthcare plan would cost $634 billion, only to have members of Congress estimate the price at $1.5 trillion.
Even if the climate bill costs Americans money, it will create lots of jobs. At least, that's what the Democrats tell us. They claim that reducing dependence on fossil fuels and increasing our dependence on green fuels will create a tremendous number of jobs. There is no doubt this will be true. More green energy jobs will be created. Unfortunately, they leave out one small fact: If we decrease dependence on fossil fuels, won't the "new" green energy jobs come at the expense of the "old" energy jobs? Will the country really gain jobs? If anything, I think workers in the energy sector will be lucky to break even on the number of jobs created.
Of course, these increasing energy costs will be felt by American consumers and corporations alike, but let's not feel too bad for the businesses. After all, they'll just increase prices on all types of consumer goods. It seems counter-intuitive to pass legislation like this during a major recession, since it will increase the cost of goods, utilities, gasoline, etc., but Barack Obama and Nancy Pelosi say it is the right thing to do, so it must be, right?
It doesn't seem like the right thing. At any rate, I think all Rhode Islanders should send Patrick Kennedy a get well card and thank him for making the trip to Washington to vote on this legislation. If it wasn't for him, we wouldn't have all these wonderful price increases to look forward to.
The climate bill will cut greenhouse gas emissions by 17 % by 2020, and by 83% by mid century. That sounds impressive, but it will actually accomplish so much more. For example, according to the Environmental Protection Agency, the average consumer will pay between $80 and $110 more per year for energy, while the Congressional Budget Office estimates the amount to be closer to $175 per year. Barack Obama says it will cost an average American the cost of a postage stamp, which comes out to roughly $160 each year. Of course, I wouldn't put much stock in his estimates. After all, this is the same person who said his healthcare plan would cost $634 billion, only to have members of Congress estimate the price at $1.5 trillion.
Even if the climate bill costs Americans money, it will create lots of jobs. At least, that's what the Democrats tell us. They claim that reducing dependence on fossil fuels and increasing our dependence on green fuels will create a tremendous number of jobs. There is no doubt this will be true. More green energy jobs will be created. Unfortunately, they leave out one small fact: If we decrease dependence on fossil fuels, won't the "new" green energy jobs come at the expense of the "old" energy jobs? Will the country really gain jobs? If anything, I think workers in the energy sector will be lucky to break even on the number of jobs created.
Of course, these increasing energy costs will be felt by American consumers and corporations alike, but let's not feel too bad for the businesses. After all, they'll just increase prices on all types of consumer goods. It seems counter-intuitive to pass legislation like this during a major recession, since it will increase the cost of goods, utilities, gasoline, etc., but Barack Obama and Nancy Pelosi say it is the right thing to do, so it must be, right?
It doesn't seem like the right thing. At any rate, I think all Rhode Islanders should send Patrick Kennedy a get well card and thank him for making the trip to Washington to vote on this legislation. If it wasn't for him, we wouldn't have all these wonderful price increases to look forward to.




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