BuckeyeBlog

One leading electricity utility executive predicts a 25% increase in Ohio’s electricity rates under the initial $20 ton ”cap and trade” carbon tax proposed by President Obama.  This burden would not be shared evenly across the country as electricity in espcially Ohio and Indiana is generated largely from coal while other states get theirs from nukes, hydro and natural gas not so burdened by this plan.  

Nor is there realistic hope of the benefit of the $645 billion coming out of our pockets and going into the government’s being reasonably redistributed back to what would be a devastated Ohio economy.  As Duke’s Jim Rogers notes:

“My view is they’ll try to use the money from Ohio and Indiana to subsidize the West coast and the Northeast and to use it for purposes that are different from addressing the climate issue,” Mr. Rogers said Friday in an interview with The Wall Street Journal.

“Ya think?”  With anything proposed by Obama going through Rep. Henry Waxman (D – Beverly Hills, Hollywood, Malibu CA), Chair of the House Committee on Energy and Commerce, despite believing in neither?

Let’s hope that Governor Strickland will appeal to the President to forgo this cap-and-trade plan with the same alacrity with which he went after “stimulus” money in recent weeks.