The so-called Cap and Trade legislation currently being considered in Washington could boost our electric rates 40 to 50 percent, according to testimony given by Gov. Haley Barbour.
Barbour spoke before the U.S. Senate Committee on the Environment and Public Works. The rate increase statistics to which he was referring came from American Electric Power CEO Mike Morris in a Forbes magazine article.
Barbour further backed up his argument by quoting presidential candidate Barack Obama, who said in the San Francisco Chronicle in January 2008: “Under my cap and trade plan, electricity rates would necessarily skyrocket.”
Tate County Democrat