Tuesday, July 20, 2010

Detroit Pushing Costly Fuel in Cap-n-Tax

You think that Obama-controlled Detroit automakers actually LIKE you?

Think again.

Lobbyists for Detroit's Big Three automakers are pushing Michigan's two Democratic senators, Carl Levin and Debbie Stabenow, hard on behalf of a Low Carbon Fuel Standard (LCFS) to be included in the compromise version of President Obama's cap-and-trade energy bill that could be voted on in the Senate later this week or early next week.

That amendment will have one noticeable effect:

The LCFS being pushed by the automakers... would be a national standard, which could drive gasoline prices far above the $4 levels seen last summer across the nation. A study by the Charles Rivers Associates, a Boston-based econometric consulting firm, projected gas prices of nearly $5 per gallon within five years of adoption, and nearly $7.50 per gallon within a decade of adoption.

And that assumes NO other policy changes (nor supply interruptions.)

HT: Examiner

1 comment:

steveegg said...

Sounds a lot like Wisconsin utilities that were forced into supporting Jim "Craps" Doyle's (WEAC/HoChunk-For Sale) version of cap-and-tax in order to get their rate increases.

Get into bed with gubmint, wake up with every STD in the book.