The Real World effect of the Cap and Tax bill!

Here are my thoughts on the real world effects of this Cap and Tax scheme passed by congress on Friday.

1. Major refiners will simply move their refining operations to other countries with lower labor costs and lower environmental restrictions. This will mean a much higher cost at the pump for Gasoline due to logistical issues and it will also exacerbate the regional shortage problems associated with the "boutique blends" of gasoline that each state require.

2. By using carbon offsets it will cause the price of lumber to increase dramatically. This will raise the cost of furniture, cabinetry, and especially new housing. The reason is one of the principal carbon offsets will be reduced logging. So expect higher housing prices across the board from New Homes, Existing homes, rentals and apartments.

3. Costs of electricity will skyrocket. The limitation on carbon release will force the power companies to buy offsets and or credits from each other to allow them to continue to generate electricity. They will also have to increase funding for alternative generation facilities which will along with all other expenses be passed along to the consumer.

4. The mandate for the use of "Biomass" will reduce our agricultural land that is now growing food crops to more use of Ag land for biomass fuel crops. this will mean a much higher food price at the grocery store. While we are paying these high prices the use of biomass will not reduce co2 being pumped into the atmosphere. As a matter of fact, most biomass produces more CO2 than burning hydrocarbons.

5. Added to this will be the additional transportation costs for goods and services used in the United States at the expense of our consumers and jobs. Higher prices means less demand which means less employment. I see no job improvement due to this bill. I see a net jobs loss in the petrochemical industry, logging, coal, retail, manufacturing, distribution etc.

There will be no part of our economy that does not feel the sting of this bill. When Nancy Pelosi took to the floor on Friday to push for this bill she said it all boils down to 4 words, Jobs, Jobs, Jobs and Jobs. As was pointed out in NFO Jobs for Brazil, Jobs for China, Jobs for Mexico, and Jobs for India. That is what is in this bill.What I would like to see is an independent investigation of the investments of the crafters of this bill. I know for one the Queen Nancy is an investor with T. Boone Pickens in his windmill and natural gas scheme. That entire business depended on this bill being passed and it will make them an absolute fortune. How many more Democrat pols have their muzzle in the oat bag of Climate Change industry?

Side Note: As of Saturday morning after the vote no one in Congress had even read the bill. It was still sitting in the Clerks office and had not been updated with the additional 300 pages of amendments.