President Obama will bring a proposed "carbon emission tax" before the Congress. This tax will be levied on all companies that emit carbon above a level set by the administration. Almost all manufacturing, energy such as oil refineries, electrical plants driven by coal. automobile plants, just about anything you can think of emits carbon. For these companies to come into compliance will require hundreds of billions of dollars if not trillions. This cost will all be passed on to consumers. Your food, utilities, gas, clothing, nearly everything will have to rise in price.
Some Congressmen from both parties are starting to hear from their constituents about not only the cost of the tax on their personal lives but what it will do to their states economies. The states such as West Virginia, Kentucky, Utah all produce and use coal. The state of Pennsylvania has large steel plants. The oil refineries states of Texas and Louisiana. These states economies could be hurt as many plants may have to cut back on production in order to keep expenses in line as they pay a large tax to the government for carbon emissions. It will likely take 20 years for all these plants to finally meet the new standards and tax will continue to effect not only the rich but the poor.
Another troubling problem is that the largest nations in the world such as India, China, Russia, and others are the largest producers of carbon gases in the world. They have no plans to cut back on carbon emissions. Therefore the cost of what they produce will undercut what we produce. We also must consider just how effective our carbon reduction really is if the other large carbon producers do nothing. I have read that we produce 25% of the worlds carbon emissions. If they other 75% do nothing are we just wasting our money and efforts and at the same time making our goods and service at … more