Sunday, March 29, 2009
Obama and Your Electric Bill - HUMAN EVENTS
I think this article leaves something out.
We have to keep in mind that other costs of producing energy will not be on hold during this time...
We have to keep in mind that other costs of producing energy will not be on hold during this time...
Ernest Istook writes at HumanEvents.com:
"Put another way, Furman estimates the cap-and-trade scheme will cost, on average, $250 billion annually. That estimate must be taken seriously because Furman is deputy director of Obama’s National Economic Council.
So what does this mean to everyday Americans? Let’s put those numbers into context.
Total electricity sales (business and residential combined) run about $343 billion a year (according to 2007 Department of Energy figures). Throw in our other energy expenses -- gasoline, natural gas, etc. -- and the U.S. Department of Energy estimates our total energy spending at 'over $500 billion.'
So Obama’s $250-billion a year energy tax could approach a 50% increase in what you, as a consumer, pay for energy, since all costs are passed along to consumers. Yet the Obama budget audaciously claims that it will “reduce utility bills”
According to the White Fence Index, the average home utility bill is $297 per month, which is about $3,600 per year. So a 50% increase would be $1,800 per year under the Obama proposal."
