President Obama has returned from China and reached agreement
with them on carbon dioxide emissions. President appears ready to implement the
Carbon Tax (Cap and Trade). At the
US Canada Energy Summit, Canada representatives talked about their countryís
Carbon Tax, which is $50 per ton on carbon dioxide. If the US EPA
implements a Carbon Tax, there is going to be significant economic impacts on
implementing the US EPA Carbon Tax regulations.
For example, a $50 US EPA Carbon Tax per ton on carbon
dioxide would cost business and consumers $275 billion per year (5.5 billion
tons of carbon dioxide times $50 Carbon Tax per ton on carbon dioxide).
For electricity, the
Carbon Tax would cost $100 billion per year (2 billion tons times $50 tax per
ton). Electrical rates by five cents from 10 to 15 cents per kilowatt-hour.
Utility companies, which
generate electricity from wind, solar, nuclear, hydroelectric & other clean
energy sources would make
billions of dollars by raising their electrical prices by 5 cent.
On coal, oil, biomass and
natural gas, the $50 US EPA Carbon Tax prices would cost business and
consumers $175 billion per year (3.5 billion tons times $50 tax per ton).
Energy speculators will have the
opportunity to make billions of dollars manipulating electrical prices by using
the Smart Grid
to electronically collect and
distribute the Carbon Tax funds.
The $50 Carbon Tax per ton
on carbon dioxide is just the beginning. The electricity will quadruple from
$1 to $4 trillion. The US EPA Carbon Tax is expected to increase over time to over $200
per ton or $1 trillion per year
(5.5 billion tons times $200
tax per ton). Electrical rates would triple from 10
to 40 cents per kilowatt-hour and gasoline from $4 to $12 per gallon.
Since the US EPA Carbon
Tax is being implemented without congressional approval, it isnít clear how the
federal government will be spending the trillions of dollars.
What is clear, is the US EPA Carbon Tax is going to
have significant detrimental impacts on Americaís economy that are similar to what