A Costly Energy Budget: Taxpayers Pay Big for Extreme Environmental Agenda
Taxing Every American
- Even Obama's "95%": President Obama's energy policies
will cost Americans more money, limit their access to America's
resources, and provide little, if any, environmental benefit. It is
an extreme environmental agenda.
- Climate "Revenue":The President's budget proposes a $646
billion cap-and-trade tax that would cost each household in
America between $650 and $1,200 annually.
- Superfund:The budget would reinstate unnecessary excise
taxes that expired in 1995 to fund Superfund's efforts to clean up
toxic and contaminated areas, which would be admirable if these
clean-up goals weren't already supported by strict environmental
laws. New tax efforts would unfairly burden companies that produce
Oil and Gas Taxes:The budget would collect $31 billion
in new oil and gas tax revenue through a punitive repeal of tax
deductions and accounting measures. These new taxes would affect
Gulf of Mexico oil and gas production and impact an industry
already taxed above the industrial average, which would be
detrimental to increasing domestic supply.
Costly Government Spending
- Department of Energy: The DOE budget is $10 billion over
the FY '09 level of $24.1 billion.
- Expanded Subsidies:DOE's budget dramatically increases
government subsidies for wind, solar, biofuels, and clean coal,
distorting normal market forces and encouraging government
dependence, forcing taxpayers to pay twice--once to fund the
subsidies and another time with higher electric bills.
- Smart Grid: The President's budget adds even more money
to develop smart grid technology beyond the $11 billion from the
stimulus bill. While upgrading the nation's grid has a large
potential value, it should be driven by the private sector.
- Yucca Mountain:Progress on building the Yucca Mountain
repository would be stopped while continuing to answer NRC
inquiries, allowing DOE to remain technically compliant with
current law while at the same time yielding to environmental
extremists on progress. This does little to resolve America's
dysfunctional system of managing spent nuclear fuel.
- Skyrocket in Flight: President Obama admitted,
"Electricity rates would necessarily skyrocket" under a
cap-and-trade program (January 2008).
Alternative Energy Policies
- Radical Environmentalist's Dream: This budget will
increase energy costs, including high prices at the gas pump, for
all Americans to appease a small group of extreme leftist
environmentalists. A recession is the wrong time for these
- American Taxpayer's Dream: Instead, President Obama
should sign a budget that truly diversifies our energy sources,
including domestic oil production, nuclear energy, coal, and new
renewable fuels. Instead of taxing on behalf of environmentalists,
the President should give all Americans relief with policies that
will lower gas and electricity prices rather than raising them.
When government impediments are lifted, America's energy
entrepreneurs can develop innovative and market-driven solutions to
our energy needs.
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