Title: Cheap energy, yes; cap and trade, no
Conservative economic policy is under attack on many fronts by the Obama administration and its liberal allies in Congress: taxes, spending, government borrowing and free-market capitalism itself. As we fight on these fronts, conservatives also must be focused on another issue of critical importance to our country’s economic and national security: energy.
America needs more American energy, but the Obama policy is for less American energy and more expensive energy.
Conservatives must wage and win the argument to show voters that President Obama’s energy policies mean higher utility bills and gasoline prices. As a candidate, Mr. Obama told the San Francisco Chronicle last year: “Under my plan of a cap-and-trade system, electricity bills will necessarily skyrocket.”
And the cap-and-trade tax he has proposed in his budget fulfills his prediction. It will be the biggest tax increase in history and will clobber low- and middle-income families. His additional proposal for $81 billion of tax increases on the oil and gas industry will add that much more to gasoline and electricity prices, while also reducing supply, thereby driving fuel costs even higher.