Sunday, November 17, 2013

If You Liked ObamaCare, You’ll Love ClimateCare

If You Liked ObamaCare, You’ll Love ClimateCare - Reason.com:
"Using figures derived from a May 2013 Congressional Budget Office report on the economic effects of a carbon tax, an auction price of nearly $60 per ton would boost the price of a gallon of gasoline by 60 cents per gallon and the average price of electricity by about 48 percent.
The average household consumes just over 1,000 gallons of gasoline annually. Increasing the price of a gallon of gas from the current average of $3.20 to $3.80 would raise household gasoline expenditures by $600 per year. Similarly, average annual household electric bills more rise by more than $600."

Auctioning off emissions permits was not enough. The original Obama Climate Plan would have required that the United States obtain 25 percent of its electricity from renewable energy sources—wind, solar, geothermal, and so on—by 2025
Nuclear and natural gas were not mentioned. 
As it happens, in 2012, solar, geothermal, and wind energy generated 0.11, 0.41, and 3.46 percent respectively of electric power in the United States. 
A recent Information Technology and Innovation Foundation study estimated that replacing all U.S. fossil fuel power by 2030 would cost each American household nearly $5,700 per year
Extrapolating from that, the earlier Obama electric power renewable fuel mandate would result in an increase in household electricity costs on the neighborhood of $570 per year.

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