A clear example of politician-double-speak: when Obama says he isn't going to raise taxes on anymone making less than $250K, he's not telling you that the utility companies will jack your rates up to a European socialized-country level.
From Larry Kudlow at National Review:
"Study after study over the past several decades has shown how countries that spend more produce less, while nations that tax less produce more. Obama is doing it wrong on both counts.
"And as far as middle-class tax cuts are concerned, Obama’s cap-and-trade program will be a huge tax increase on all blue-collar workers, including unionized workers. Industrial production is plunging, and new carbon taxes will prevent production from ever recovering. While the country wants more fuel and power, cap-and-trade will deliver less."
I mean, when he imposes his "cap and trade" system on us, you think oil companies aren't going to pass this along to us? After all, he promised to "bankrupt" the coal industry, and by golly, he's going to do it.
Basically, this cap and trade system will require companies to buy credits if they exceed greenhouse gas limits. As Sara Goss points out in American Thinker, "companies don't absorb costs, they pass them on to the consumer." Utility bills will double, or even triple.
From the Shreveport Times:
To raise about $30 billion over 10 years to pay for other priorities, Obama wants to impose a new excise tax on offshore oil and gas production in the Gulf of Mexico, cut tax breaks and increase royalties.
Independent Petroleum Association of America President Barry Russell said Obama "delivered a devastating blow to the American oil and natural gas industry today."
"Ninety percent of the oil and natural gas wells developed in the United States are done by small, independent businesses — not so-called 'Big Oil' — so tax increases hurt these companies most," Russell said. "This budget hurts our ability to be competitive with other nations in the growing world energy marketplace."
Russell said the budget proposals, coupled with the administration's recent move to delay a five-year plan that would determine the sites of the next offshore lease sales, "is not welcome news, especially for the majority of Americans who favor increased American oil and natural gas production."
Off-shore drilling is a high-risk enterprise and to remove all incentive further increases the cost of production.
Obama wants us to resort more to "green energy" - I get that. But it's not in place yet. Start-up is expensive. It's not proven it works. If he wants to develop these things, fine, but why, especially during a recession, would you kill any more industry than we already have? Or deny and penalize a technology that we know works? I don't think he'll offer a bailout to the coal industry so they can buy their cap and trade permits.
We must have a reliable energy supply. Windmills aren't it. Energy producers get slammed in the new Obama budget proposal. The result will be "lower energy production or increased cost to the consumers."