I was reading the CBS article below about how cap and tax would cost families about $1800 a year in extra energy expense. Apparently the EDF shot back a rebuttal, copied below.
Obama Admin: Cap And Trade Could Cost Families $1,761 A Year
Update 9/16/2009: The Environmental Defense Fund has responded to the documents' release with a statement saying, in part:
Even if a 100 percent auction was a live legislative proposal, which it's not, that math ignores the redistribution of revenue back to consumers. It only looks at one side of the balance sheet. It would only be true if you think the Administration was going to pile all the cash on the White House lawn and set it on fire.
The bill passed by the House sends the value of pollution permits to consumers, and it contains robust cost-containment provisions. Every credible and independent economic analysis of the American Clean Energy and Security Act (such as those done by the non-partisan Congressional Budget Office, the Energy Information Administration, and the Environmental Protection Agency) says the costs will be small and affordable -- and that the U.S. economy will grow with a cap on carbon.
The question one needs to ask is if it doesn’t drive up the cost to anyone then how does it cut down on carbon? In other words who is it affecting? The answer is again, not me ….. it’s those rich guys who’ll pay! Another redistribution scheme, this time to “save the planet”.
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