If we act now to implement President Barack Obama’s energy plan – which proposes investment in clean energy (and some badly needed jobs to boot) – we can avert a future in which the nation’s energy costs rise by $420 billion a year over the next five years.
That translates to $3,500 for every American family.
Obama’s plan, which aims to hold energy companies’ feet to the fire over global warming gases like carbon dioxide, is now being challenged by these same companies, who charge that the plan’s associated “energy taxes” (estimated to exceed $400 billion), will reduce investment in domestic oil and gas at a time when America is just beginning to develop these resources to free itself from dependence on foreign oil.
Oil company propaganda suggests that these energy taxes will mean not only less energy to heat homes, transport food, run factories and light schools, but will actually reduce local, state and federal revenues at a time when cities across America are struggling with deficits.
The Republicans, who have been supporting the oil barons since Reagan, cite a cost to every household of $3,128 if Obama’s plan prevails. The figures are close; it’s the slant that’s demented.
They call their plan the “Road to Recovery”. I call it BS.