Senators Warn Bill Could Spike Gas $1.50 to $5 a Gallon (Accord: environment, lawyer)

[GigiBowman]

Senators Warn Bill Could Spike Gas $1.50 to $5 a Gallon
Inhofe, Sessions blast massive costs of global warming legislation.

By Jeff Poor
Business & Media Institute
5/15/2008 5:44:34 PM



Worried about gas prices hitting $4 a gallon and beyond? Imagine if they were $6, $7 or even $8 a gallon. those levels are a certain possibility should Congress pass cap-and-trade legislation, which could face a vote in early June.

Oil is trading at record levels, in excess of $120 a barrel. Leading Republican Sens. James Inhofe (Okla.) and Jeff Sessions (Ala.) both told the Business & Media Institute (BMI) energy prices would drastically increase if the Lieberman-Warner Climate Security Act (S. 2191) is signed into law.

“The studies show it would be directly affected, would be a $1.50 a gallon, in addition to what it is today,” Inhofe, the ranking Republican on the Senate Environment and Public Works Committee, said to (BMI).

continued: Senators Warn Bill Could Spike Gas $1.50 to $5 a Gallon

[iluvmycuties]

I'm going to just have to start riding around in my son's Peg Perego jeep. I can fit in it, and it goes 5MPH! I'll be all the gossip among the mothers on play date days. Sorry to make light, but I'd get too depressed to function if I thought about this any longer.

[Jrprofess]

Originally Posted by GigiBowman

Senators Warn Bill Could Spike Gas $1.50 to $5 a Gallon
Inhofe, Sessions blast massive costs of global warming legislation.

By Jeff Poor
Business & Media Institute
5/15/2008 5:44:34 PM



Worried about gas prices hitting $4 a gallon and beyond? Imagine if they were $6, $7 or even $8 a gallon. those levels are a certain possibility should Congress pass cap-and-trade legislation, which could face a vote in early June.

Oil is trading at record levels, in excess of $120 a barrel. Leading Republican Sens. James Inhofe (Okla.) and Jeff Sessions (Ala.) both told the Business & Media Institute (BMI) energy prices would drastically increase if the Lieberman-Warner Climate Security Act (S. 2191) is signed into law.

“The studies show it would be directly affected, would be a $1.50 a gallon, in addition to what it is today,” Inhofe, the ranking Republican on the Senate Environment and Public Works Committee, said to (BMI).

continued: Senators Warn Bill Could Spike Gas $1.50 to $5 a Gallon

Not to get political but isn't this a nice out for the two senators to squash any environmental legislation?? I am always cynical about the real underpinnings of their motivation, and oftentimes a list of campaign donors helps get at the real root of their motivations. You could just as easily argue that the potential environmental benefits will provide savings elsewhere in terms of health claims, etc. Or that such a potential for price increases will further prompt alternative fuels efforts and we'll see gas prices drop longer term.

I have no dog in this fight, just a cynical view of politicians and their ties to special interests, democrat or republican.

[newtoli]

Inhofe spoke at a press conference at the National Press Club in Washington, D.C. on May 15 to introduce the “We Get It!” campaign – a program founded by evangelical Christians that question the merits of global warming alarmism. According to Inhofe, the bill will make it to the floor of the Senate on June 2.

I agree w/ previous poster - this looks like a special interest campaign. I support reducing Greenhouse gas emissions. I think it is selfish to ruin the environment for future generations just to get cheaper prices now for this generation. We have to look towards the future and find alternate ways to reduce consumption. Super fuel-efficient cars are a big start. Does everyone really need the SUV that gets 12mpg?

Example, here is an article slanting the bill in a totally opposite direction:
eNewsUSA: EPA Releases Analysis Of Lieberman-Warner Climate Security Act

-Under the Climate Security Act, increases in average US electricity prices materialize slowly and gradually. Even forty years after enactment, those prices reach a level only 18% higher than the 2005 level. Over that period, the bill directs more than $1 trillion to lowering and offsetting US consumers' actual energy costs. According to the release, the analysis also includes, at the request of critics of climate legislation, other modeled scenarios that make highly pessimistic assumptions about constraints on technology deployment, the formation of natural gas cartels, and the like. In responding to the same request last October, the Energy Information Administration concluded that an analysis would be realistic without these pessimistic assumptions.

[Jrprofess]

Originally Posted by newtoli

I agree w/ previous poster - this looks like a special interest campaign. I support reducing Greenhouse gas emissions. I think it is selfish to ruin the environment for future generations just to get cheaper prices now for this generation. We have to look towards the future and find alternate ways to reduce consumption. Super fuel-efficient cars are a big start. Does everyone really need the SUV that gets 12mpg?

Example, here is an article slanting the bill in a totally opposite direction:
eNewsUSA: EPA Releases Analysis Of Lieberman-Warner Climate Security Act

-Under the Climate Security Act, increases in average US electricity prices materialize slowly and gradually. Even forty years after enactment, those prices reach a level only 18% higher than the 2005 level. Over that period, the bill directs more than $1 trillion to lowering and offsetting US consumers' actual energy costs. According to the release, the analysis also includes, at the request of critics of climate legislation, other modeled scenarios that make highly pessimistic assumptions about constraints on technology deployment, the formation of natural gas cartels, and the like. In responding to the same request last October, the Energy Information Administration concluded that an analysis would be realistic without these pessimistic assumptions.

So I lied, I guess I will get briefly political... These two are in the hip pocket of the oil and gas special interests. A quick online search at any of those free campaign donor sites lists their top contributors over their career and their current campaign...shockingly, it is oil/gas/energy folks, not even counting the PACs or lawyers that represent them and contribute. Again, not pro or con Republicans, just dismissive of these two senators. Most politicians in my opinion fall into this same camp, regardless of party affiliation. Depressing really...

[newtoli]

Oh man, I googled Inhofe:

Only Texas senator John Cornyn received more campaign donations from the oil and gas industry in the 2002 election cycle.[21] The contributions Inhofe has received from the energy and natural resource sector since taking office have exceeded one million dollars.[22]

[GigiBowman]

All the politicians are disgusting....and we're paying for it. I don't know about you guys but I don't think I can handle more than $4.09 a gallon for gas!

[newtoli]

It's going to keep going up as the years go on no matter what. Everyone can scream and yell and come up with bills, but when it comes down to it, oil is a non renewable resource, it's not unlimited. The less we have, the more expensive gas will get, which is why people need to focus more on conservation, gas efficient cars, etc.

[LocalX]

I now pick up my employees and bring them to work; four of them.
If the gas situation does not right itself 6-14 months from now we are going to be in ALOT of trouble.

[JustBored]

Originally Posted by newtoli

oil is a non renewable resource, it's not unlimited. The less we have, the more expensive gas will get

They also said.. "Oil is only 20$ a barrel, its not cost effective to goto those remote oil deposits.." Now that oil is 120$ a barrel they say China & India are booming.. they are killing the supply...

blah blah blah blah..

We need an viable alternative to Oil, and it's not corn based Ethanol..

Originally Posted by GigiBowman

All the politicians are disgusting....and we're paying for it. I don't know about you guys but I don't think I can handle more than $4.09 a gallon for gas!

Pray those electric Cars (Chevy Volt?) come to the market sooner rather than later!.. Because I dont think we'll see under 3$ gas again..

It's my own fault cause I drive an SUV, but then how else can you parade around 3 kids in carseats, a wife and a mother in law..= (