Electricity Rates Will Skyrocket

From congressman Mike PenceR) Indiana:

It is astonishing that in the midst of the worst recession in 26 years, this administration and Democrat leaders continue to advance job-killing proposals like the national energy tax and will carry that message to the global warming convention in Copenhagen.
Rather than making a priority of creating jobs, the president plans to attend negotiations at the United Nation’s convention on climate change in Denmark. This decision is wrong on several levels. The administration’s participation in the Copenhagen negotiations raises a number of concerns that the president should address before catching his flight.
A primary concern is the impact a global cap and tax system will have on our economy. In June, the House of Representatives passed a bill that would mandate carbon emission reductions amounting to a national energy tax. While there is still a lot of uncertainty about how much the average American household will pay if this national energy tax becomes law, perhaps the best estimate came from President Obama himself.
In 2008, then-Senator Obama said, “Under my plan of a cap and trade system, electricity rates would necessarily skyrocket.” He went on to say that the costs will be passed “on to consumers.”
When President Obama said energy rates will “necessarily skyrocket,” I believed him. And I believe that is a prescription for economic decline. Skyrocketing electricity rates are unacceptable and it’s a high price to pay for a plan that will not even achieve its goal of reducing carbon emissions.