For years, economists have been saying that cap-and-trade would be an economy killer. Now, a group of California Democrats has come to the same conclusion in a letter to the head of California’s air resources board.
The 16 Democrats have requested a delay or change to the rules that would put gasoline under the same cap-and-trade rules as power stations have been suffocating under. The rules are set to take effect in 2015.
In the letter, the group warned that “fuel prices for consumers are going to be driven up once fuel is covered under cap-and-trade at the start of next year, weakening the economy just as California is recovering from the last recession, and hurting the most vulnerable members of our communities who must commute to work and drive long distances for necessary services like medical care.”
Now they suddenly understand that their policies are hurting working people and families?
Everyone remembers Obama’s famous “necessarily skyrocket” remarks. Cap-and-trade is intended to make sure that energy prices do just that. Shortsightedness may be getting the better of the progressive left.
The higher prices are intended to curb demand, but that doesn’t work on a necessity. Families have to attend school meetings, go to work, go get groceries and such. That requires fuel or electricity.
If fuel and energy prices rise, that trip to the grocery store will cost more and leave less for non-essential spending. Whether the fuel price hikes result in bus fare increases, train ticket price increases or a higher price at the pump won’t matter – the trip will now cost more and leave families with less.
It appears that Obama is following Jimmy Carter’s economic plan .. and getting the same results.