The Competitive Enterprise Institute has been making a lot of hay with a Freedom of Information Act request it made to the Treasury Department for their estimates on the cost of the climate change bill. The estimate in the 10 pages received? $1,761 per household.
It’s added fuel to the fire under the simmering pot of discontent around the bill, as the Senate takes it up in the next week (or considers putting it off, depending on who you talk to).
But that figure may not really match up to the bill that’s on the table, the Washington Independent notes.
The Treasury analysis is based on a bill that auctions 100 percent of the early carbon emissions credits, while the bill that passed the House early this year actually gave away 85 percent. It also takes some of the funds raised an puts them back toward efficiency programs and other areas that, arguably, are aimed to help lower consumer costs. What sort of bill the Senate decides to start with will likely water down the costs to consumers even more.
According to the Washington Independent:
Actual studies of the House bill have found that the costs are much lower. The Energy Information Administration found that the House bill would increase household costs about $83 per year. The Environmental Protection Agency put the cost slightly higher, at between $88 and $140 per household per year, and the Congressional Budget Office estimated about $175 a year by 2020.
Of course for some any impact on consumer pocketbooks via the climate bill is too much. That will likely be part of the message from some at a meeting at the University of Houston this Saturday, Sept. 19, 2:30 p.m. to 4:30 p.m. at the Hilton Hotel. It’s being organized by the Houston Tea Party Patriots.
Speakers will include (from a release on the event):
Congressman Kevin Brady – 8th District of Texas.
Vikas Dwivedi – Principal, Quantum Energy Partners, who will talk about how Cap and Trade will affect the energy industry, specifically oil and gas exploration and production.
Clifford L. Fry, Ph.D. – Executive Vice President, RRC, Inc., will discuss the economics of the proposed legislation and its impact on the US economy.
Michelle Michot Foss, Ph.D. — Chief Energy Economist and Head of Center for Energy Economics, University of Texas, will discuss the realities of how this bill will impact the Texas economy and the environment.
Niger Innis – spokesperson for Congress of Racial Equality and outspoken opponent of Cap and Trade will discuss how the bill will impact middle and lower income families.