McCain's Massive Energy Consumption Tax

[stephanie]

there are links in this article you can see at their site. Say no to John McCain..

Posted by: Hugh Hewitt at 6:18 PM
The McCain-Lieberman proposed tax on energy consumption was the subject of a column by Roy Cordato in the NationalReview.com yesterday:



The proposed bill, co-sponsored with Joe Lieberman, mandates an energy-rationing scheme that all economists acknowledge is equivalent to a broad-based energy tax which is similar to Bill Clinton’s 1993 Btu tax proposal. Energy would be taxed through the back door by placing a cap on the amount of carbon dioxide (CO2) that energy-producing companies can emit. It puts a legal limit on the amount of energy that can be drawn from conventional sources such as oil, coal, and natural gas.

McCain’s energy tax would kick in whenever an energy-producing company wants to expand its output above the cap. If, for example, a utility company that is bumping up against its emissions cap wants to increase its production of electricity generated from coal, oil, or natural gas, it will have to buy permission to do so by purchasing unused permits from other companies. The same would be true of an oil refiner that wants to increase its output of gasoline or home heating oil, possibly to meet new consumer demand. The purchase price of the permits is a tax, and will have the same effects as a tax on the market; it would raise the price of the energy source, i.e. coal, oil, etc., and therefore, it would likewise raise the costs of all production that relies on those sources, as well as the price of all goods and services that those production processes generate.

The EPA has estimated what the McCain energy tax would mean to consumers. Since the bill’s provisions are phased in, the full cost of the tax would not be felt for a number of years. But in a letter to Senator McCain dated July 2007, the EPA estimated that the tax will be about $.26 cents in current dollars per gallon of gasoline by 2030 and $.68 cents per gallon by 2050. For electricity, the EPA estimates that the McCain energy tax would increase individual’s electric bills by 22 percent in 2030 and 25 percent in 2050.


Here's how one environmental group greeted the 2007 version of McCain-Lieberman's global warming bill:

read the rest..
http://www.townhall.com/blog/g/1994c9f2-f723-40ce-b69c-684bc6459758

[red states rule]

First, McCain says he would still vote agauinst the Bush tax cuts, now he wants a tax increase

He might as well declare he would be Hillary's or Obama's running mate

[PostmodernProphet]

First, McCain says he would still vote against the Bush tax cuts, now he wants a tax increase

if we are ever going to eliminate America's appetite for foreign supplied energy and eliminate the risk that our politics will be dictated to us by the supplier of that energy we need to force this nation to alternatives.....

the only way to do that is to make foreign supplied energy more expensive....

[red states rule]

if we are ever going to eliminate America's appetite for foreign supplied energy and eliminate the risk that our politics will be dictated to us by the supplier of that energy we need to force this nation to alternatives.....

the only way to do that is to make foreign supplied energy more expensive....

Well, it has not worked yet

Why not start drilling for our own oil we have? Oh, the enviro wackos are more worried about saving an anthill then energy independence

[PostmodernProphet]

Well, it has not worked yet

????....which might be explained by the fact it has never been done before.....


Why not start drilling for our own oil we have?

because that does nothing to alter our appetite for petroleum.....

do you like sucking up to Venezuela and Saudi Arabia?

convert to renewable LOCAL energy sources for the bulk of our transportation needs and keep our petroleum supplies for those things which can't be done with anything EXCEPT petroleum.......

[red states rule]

????....which might be explained by the fact it has never been done before.....



because that does nothing to alter our appetite for petroleum.....

do you like sucking up to Venezuela and Saudi Arabia?

With oil at $100/bl the demand for oil is stil high. Our economy runs on oil.

Why should we change our standard of living when we have huge oil reserves within our own borders? (and finding new oil reserves as advances in technology aloow us to find them)

[PostmodernProphet]

With oil at $100/bl the demand for oil is stil high. Our economy runs on oil.

Why should we change our standard of living when we have huge oil reserves within our own borders? (and finding new oil reserves as advances in technology aloow us to find them)


so what are you going to do when the "huge oil reserves" are gone?.....yes, our economy runs on oil.....and we should change it to run on something else.....

which makes more sense to you....spending $100 a barrel for oil so the oil companies can build another fancy building in Dubai?......or putting Americans to work building nuclear power plants and wind generators and biofuel plants at a thousand different locations in the US.....


and why are you willing to accept a "change of standard of living" so Chavez can get $100 a barrel instead of $50, but you aren't will to accept a "change of standard of living" so we burn E85?.........

[red states rule]

so what are you going to do when the "huge oil reserves" are gone?.....yes, our economy runs on oil.....and we should change it to run on something else.....

which makes more sense to you....spending $100 a barrel for oil so the oil companies can build another fancy building in Dubai?......or putting Americans to work building nuclear power plants and wind generators and biofuel plants at a thousand different locations in the US.....

For about 20 years, I have been hearing how the US is running out of oil - yet we keep finding new reserves.

Oil companies make about 10 cents porfit on a gallon of gas - while taxes make up 40 to 60 cents of the price

I say we go with oil, nuclear plants, coal, and whatever will give us the energy we need.

[PostmodernProphet]

For about 20 years, I have been hearing how the US is running out of oil - yet we keep finding new reserves.

Oil companies make about 10 cents porfit on a gallon of gas - while taxes make up 40 to 60 cents of the price

I say we go with oil, nuclear plants, coal, and whatever will give us the energy we need.

foreign oil suppliers have played you like a fish....keeping the price just low enough that you won't switch to alternative energy, but just high enough that the Saudis have enough cash in our bank accounts to alter our economy......how about, instead of oil companies making ten cents profit ona gallon of gas we let American farmers make about ten cents profit on a gallon of ethanol......

[Kathianne]

foreign oil suppliers have played you like a fish....keeping the price just low enough that you won't switch to alternative energy, but just high enough that the Saudis have enough cash in our bank accounts to alter our economy......how about, instead of oil companies making ten cents profit ona gallon of gas we let American farmers make about ten cents profit on a gallon of ethanol......

They have been, haven't you noticed the price of food since they've been raising for oil?

http://www.sciencenews.org/articles/20060722/food.asp

http://www.technologyreview.com/Energy/18173/

http://www.nytimes.com/2006/01/16/national/16ethanol.html

[red states rule]

They have been, haven't you noticed the price of food since they've been raising for oil?

http://www.sciencenews.org/articles/20060722/food.asp

http://www.technologyreview.com/Energy/18173/

http://www.nytimes.com/2006/01/16/national/16ethanol.html

Everything goes up when the price of maufacturing, and shipping goes up.

[Kathianne]

Everything goes up when the price of maufacturing, and shipping goes up.

Did you look at the sites? It's about food and ethynol.

[PostmodernProphet]

They have been, haven't you noticed the price of food since they've been raising for oil?

http://www.sciencenews.org/articles/20060722/food.asp

http://www.technologyreview.com/Energy/18173/

http://www.nytimes.com/2006/01/16/national/16ethanol.html

Kathy.....the price of food has gone up more from the energy cost of transporting it to market than it has from the cost of corn being raised due to ethanol use......

most corn raised in the US that goes for food usage is converted into corn sugar and most of that is used in the beverage industry......the cost of corn sugar in a can of soda is less than 2 cents, so if the cost of corn triples, it would raise the cost of your can of soda 6 cents......so, suffer.....

as far as feed lots for cattle and hogs, the brewer's mash that is a by product of ethanol production can be used as cattle feed with NO nutrition loss because cows don't digest the sugar content in corn anyway....

the net result?.....all food cost increases are either manufactured under the excuse of "rising corn prices" or they are the result of some other factor......

[Kathianne]

Kathy.....the price of food has gone up more from the energy cost of transporting it to market than it has from the cost of corn being raised due to ethanol use......

most corn raised in the US that goes for food usage is converted into corn sugar and most of that is used in the beverage industry......the cost of corn sugar in a can of soda is less than 2 cents, so if the cost of corn triples, it would raise the cost of your can of soda 6 cents......so, suffer.....

as far as feed lots for cattle and hogs, the brewer's mash that is a by product of ethanol production can be used as cattle feed with NO nutrition loss because cows don't digest the sugar content in corn anyway....

the net result?.....all food cost increases are either manufactured under the excuse of "rising corn prices" or they are the result of some other factor......

In Illinois, pretty good corn country, we've had ethynol of a minimum 10% for over 30 years. We have some of the highest costs for gasoline of all the states.

[Gunny]

if we are ever going to eliminate America's appetite for foreign supplied energy and eliminate the risk that our politics will be dictated to us by the supplier of that energy we need to force this nation to alternatives.....

the only way to do that is to make foreign supplied energy more expensive....

Right. Beat down the little guy. The wealthy will just pay the tax.

IMO, you need to rethink THAT plan.

[red states rule]

Yes I did.

Food prices are going up due to both the price of oil and the expansion of ethanol

Here in Pa, the same people who were screaming for the increase use of ethanol, opposed the building of an ethanol plant