Obama clean energy plan will raise energy costs
President Obama plans to aution the credits to emit greenhouse gases to coal and natural gas-burning electric utilities and industrial plants, and use the proceeds for researching and building clean energy sources, and for distribution back to ordinary Americans through the social security system.
But you will probably have to pay more for your electricity - Duke Energy CEO Jim Rogers said that electricity rates would have to increase 40% to cover what his company spent for credits ($2 billion). Gasoline, food and travel will also become more expensive as costs are passed on to customers.
In the end, you could end up paying more than what you will gain.
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