It's a likely probability of Obama's "Cap and Trade" proposal.
Under Obama's Cap and Trade energy plan, there are efforts to raise prices of natural fossil-fuel consumption. In theory, this practice would lower fossil-fuel usage and save energy. However, this plan solves one problem only to create another of equal importance. The dramatic rate increases will be passed onto consumers and taxpayers. In this economy, the American people cannot afford to pay expenses like $8 per gallon of gas. Here is Burton's agrument in Jeff Tucker's Shelbyville News article:
Burton, who represents the remainder of Shelby County in the U.S. House, said the legislation could cost Americans $646 billion in additional taxes.
"It's going to send thousands, and probably millions, of jobs overseas to China and India, countries that don't have the same kind of environmental standards we have, and it's going to cost every single American household thousands of dollars in additional expenditures per year," Burton said. "Now they say it's not going to be a tax on individuals or households, but the fact is it will be an indirect tax because the business and industries of this country that are taxed are going to pass those costs along to the consumer, which means that every single household in this country will have to spend between $3,000 and $4,000 in additional expenses every single year. And that's money that right now during this recession the American people simply cannot afford."
Burton said cap and trade is an unnecessary tax and is "just something that should not happen." He said Obama conceded in January 2008 during an editorial board meeting with a California newspaper that electricity rates "would necessarily skyrocket" under cap and trade.
"We have to take the president at his word," Burton said.
Burton said a new natural gas discovery in Louisiana could help America become energy independent.
"In Louisiana, they just discovered the largest natural gas find, I think, in the world at this point," Burton said. "It was the equivalent of 380-some billion barrels of oil. So we have an additional resource that was not well-known just a few short weeks ago. And with that, I think the United States of America could rapidly move toward energy independence if we put our minds to it. It's just a matter of the Congress of the United States realizing that we can have less reliance on foreign oil and foreign energy and do the jobs ourselves here at home."
"It's going to send thousands, and probably millions, of jobs overseas to China and India, countries that don't have the same kind of environmental standards we have, and it's going to cost every single American household thousands of dollars in additional expenditures per year," Burton said. "Now they say it's not going to be a tax on individuals or households, but the fact is it will be an indirect tax because the business and industries of this country that are taxed are going to pass those costs along to the consumer, which means that every single household in this country will have to spend between $3,000 and $4,000 in additional expenses every single year. And that's money that right now during this recession the American people simply cannot afford."
Burton said cap and trade is an unnecessary tax and is "just something that should not happen." He said Obama conceded in January 2008 during an editorial board meeting with a California newspaper that electricity rates "would necessarily skyrocket" under cap and trade.
"We have to take the president at his word," Burton said.
Burton said a new natural gas discovery in Louisiana could help America become energy independent.
"In Louisiana, they just discovered the largest natural gas find, I think, in the world at this point," Burton said. "It was the equivalent of 380-some billion barrels of oil. So we have an additional resource that was not well-known just a few short weeks ago. And with that, I think the United States of America could rapidly move toward energy independence if we put our minds to it. It's just a matter of the Congress of the United States realizing that we can have less reliance on foreign oil and foreign energy and do the jobs ourselves here at home."
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