Consumers could see a 40% price increase on energy-related bills

According to a recent article in MyBusiness, a new legislative plan could hike energy prices by up to 40 percent to individuals and businesses. This new energy policy plan would place hidden taxes on energy-related utility costs. Congress’ proposal, a cap and trade system, would require businesses which emit greenhouse gases (carbon dioxide, methane, and nitrous oxide) to purchase governmental credits to offset their emissions. Under this system, businesses who stay below their specified level can sell their remaining credits to other businesses, thus allowing them to pollute more. (Sounds like a great plan to me.. sarcasm). Even businesses which emit minimal levels of greenhouse gases would experience price increases through their utility bills; since utility providers emit a significant amount of greenhouse gases, the price increase would be passed along to businesses and consumers. The government sees it as a win-win situation: environmentalists get regulation of emissions and politicians get tax money. (Notice they say "regulation" and not "reduction." Someone needs to get their priorities straight).

So where does the additional tax money go? Congress wants to use the additional revenues to fund the new government-provided healthcare program. President Obama is obviously in favor of the plan admitting that “under my plan of a cap and trade system, electricity rates would necessarily skyrocket.” How much, an estimated $1300 average annual increase to families’ energy-related bills.

One small business owner, Douglass Henry, suggests a better solution would be for the government to offer credits and grants to businesses for installing energy-efficient equipment. He thinks small businesses could greatly benefit from it, and it would promote conservation of our natural resources. (Sounds more logical to me).

According to a figure in the article, Mississippi ranks as “medium” in its level of vulnerability to an energy tax.