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Climate law seen raising gasoline 13 cents a gallon

Reuters -- U.S. climate legislation would hike gasoline prices about 13 cents a gallon as oil companies push the price of carbon permits on to consumers, according to report by Point Carbon, an independent consulting company that tracks global carbon and energy markets.

The analysts did not share the oil industry's view that a U.S. cap-and-trade system to curb greenhouse gas emissions would decimate demand for gasoline and force large numbers of refineries to shut down.

Climate legislation being debated in the Senate after passing in the House of Representatives narrowly in June would force big polluters to hold carbon credits for every tonne of carbon they emit.

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Submitted Nov 03, 2009 By: ziyulu

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skybiker Champion Author South Carolina Posts:3,325 Points:659,305 Joined:Jul 2008	Message Posted: Nov 4, 2009 11:46:52 AM Ignore skybiker Report Abuse More like 50 cents I'll bet...
toyrunner300 Champion Author Calgary Posts:2,123 Points:1,003,740 Joined:Jan 2007	Message Posted: Nov 4, 2009 8:23:15 AM Ignore toyrunner300 Report Abuse the only way to conserve, raise up the price of the gas...
ops3 Champion Author Cincinnati Posts:1,229 Points:737,025 Joined:Dec 2007	Message Posted: Nov 4, 2009 1:39:34 AM Ignore ops3 Report Abuse The govt wants everybody to walk; except them
007HS Champion Author California Posts:6,959 Points:1,852,135 Joined:Aug 2003	Message Posted: Nov 4, 2009 1:11:47 AM Ignore 007HS Report Abuse Gosh, somebody wants to have a decent profit margin. And CO2 IS NOT a terrible thing, ask a tree.
250FORD Champion Author Minnesota Posts:7,661 Points:1,232,210 Joined:Feb 2007	Message Posted: Nov 4, 2009 1:07:47 AM Ignore 250FORD Report Abuse Hold on a second, I thought this was supposed to nearly double the cost of gas. I guess some people are up to their normal exagerations.
greenfog Champion Author Illinois Posts:1,704 Points:671,700 Joined:Feb 2008	Message Posted: Nov 4, 2009 1:06:23 AM Ignore greenfog Report Abuse they keep this up and there won't be anyone left to pay their stupid a$$ taxes. washington had better wake up and get the country back on its feet before they starting screwing with stuff that will shut it down again.
vulcan96 Champion Author Ohio Posts:17,906 Points:2,126,095 Joined:Aug 2004	Message Posted: Nov 4, 2009 1:02:36 AM Ignore vulcan96 Report Abuse looks like some power gererating plants will just have to shut down since they are not allowe3d to pass on the costs to the customers like the oil companys can. if we are still around in 2012 most all dems will be out on their buts !
NightDiver Champion Author Illinois Posts:2,021 Points:732,835 Joined:Mar 2007	Message Posted: Nov 4, 2009 12:59:27 AM Ignore NightDiver Report Abuse Anything to charge us more money!!
danny999 Champion Author Florida Posts:3,671 Points:656,910 Joined:Oct 2008	Message Posted: Nov 4, 2009 12:57:47 AM Ignore danny999 Report Abuse ANY EXCUSE FOR THE GREED STAMPEDE TO REAR IT'S UGLY HEAD.
PioneerUrban Champion Author West Virginia Posts:2,698 Points:532,505 Joined:Jun 2008	Message Posted: Nov 4, 2009 12:40:58 AM Ignore PioneerUrban Report Abuse We are taxed to death already.
HEBster Champion Author Kentucky Posts:3,918 Points:1,406,185 Joined:May 2006	Message Posted: Nov 4, 2009 12:38:58 AM Ignore HEBster Report Abuse Easily done if...they'll keep prices reasonable...
DosEquis26 Champion Author Chicago Posts:1,922 Points:1,088,060 Joined:Jun 2006	Message Posted: Nov 4, 2009 12:36:38 AM Ignore DosEquis26 Report Abuse Al Gore is the greatest President that the REpublicans ever stole an election form.
LoneGuy Champion Author Lansing Posts:3,618 Points:1,356,150 Joined:Aug 2005	Message Posted: Nov 4, 2009 12:32:16 AM Ignore LoneGuy Report Abuse I think we are dreaming if we think it is only going to be 13 cents. It is a scheme to bring revenue to the government so they can waste it on pork. Gore is a poor excuse for a polotician and he knows nothing about what he speaks on involved with the environment. If he believed his own rhetoric he would live a lot more modestly.
RovingOkie67 Champion Author Arizona Posts:1,581 Points:415,730 Joined:Jul 2007	Message Posted: Nov 4, 2009 12:28:54 AM Ignore RovingOkie67 Report Abuse of course All of that crap that Al Gore has force fed for way too many reason.
mfeldstein Champion Author Ottawa Posts:3,717 Points:1,048,440 Joined:Feb 2007	Message Posted: Nov 4, 2009 12:28:40 AM Ignore mfeldstein Report Abuse Saving the world ain't free.
bigmaninarig Champion Author St. Louis Posts:3,078 Points:539,715 Joined:Jul 2008	Message Posted: Nov 4, 2009 12:24:48 AM Ignore bigmaninarig Report Abuse Thank that bum Gore!
hank1326 Champion Author Los Angeles Posts:4,079 Points:767,250 Joined:Jun 2008	Message Posted: Nov 4, 2009 12:24:42 AM Ignore hank1326 Report Abuse Excellent post by CobraLeader. The election results are reflections of voters' opinions on the new prez's agenda and poor performances.
Chitowner Champion Author Omaha Posts:2,063 Points:579,135 Joined:Jul 2007	Message Posted: Nov 4, 2009 12:23:18 AM Ignore Chitowner Report Abuse this is nothing wait for the 600 dollar annual increase in Electricity
Blue_Cruzer Champion Author Lexington Posts:2,983 Points:768,410 Joined:Mar 2007	Message Posted: Nov 4, 2009 12:22:57 AM Ignore Blue_Cruzer Report Abuse We will all be paying big time for this law.
humblepie Champion Author Toledo Posts:7,963 Points:1,392,240 Joined:Mar 2006	Message Posted: Nov 4, 2009 12:21:32 AM Ignore humblepie Report Abuse anyone who doesnt think we need a change from the current administration has their head in the sand or is delusional
judgemobile Champion Author Ohio Posts:2,741 Points:1,484,260 Joined:Nov 2005	Message Posted: Nov 4, 2009 12:18:40 AM Ignore judgemobile Report Abuse even O'Bummer admitted Cap and Trade would send energy prices "SKYROCKETING"...this was his word. I hope he looks at what happened in NJ and VA last nite--the voters are telling him LOUD AND CLEAR they do NOT like his Marxist / Socialist agenda.
RLH68 Champion Author Orlando Posts:3,961 Points:732,000 Joined:Jun 2007	Message Posted: Nov 4, 2009 12:17:59 AM Ignore RLH68 Report Abuse TBONE3, I agree, but did you ever meet an honest politician? I doubt it since none exist.
rxman1 Champion Author Toledo Posts:4,335 Points:905,430 Joined:Nov 2007	Message Posted: Nov 4, 2009 12:15:25 AM Ignore rxman1 Report Abuse If government gets more money then they will get to spend it not us. I would like to have the choice of where my money goes.
altonb1 Champion Author Pennsylvania Posts:5,012 Points:684,300 Joined:Jul 2005	Message Posted: Nov 4, 2009 12:15:12 AM Ignore altonb1 Report Abuse Without a job, I'm not doing a lot of driving, so tht's another 13-cents/gal I won't be paying.... Wasn't it about a decade ago that everyone was spouting "It's the economy, stupid" when talking politics? Yeah, how did the economy treat your fellow party members during the 2009 elections, Obama? The writing is on the wall. Unfortunately, it will take years to undo the mess that he is creating now.
TBONE3 Champion Author Pennsylvania Posts:3,870 Points:1,000,670 Joined:Mar 2005	Message Posted: Nov 4, 2009 12:14:50 AM Ignore TBONE3 Report Abuse Do you politicians want to take a chance on this Carbon Tax after seeing just how PO'ed the electorate is at you guys? You all could be next.
CobraLeader Champion Author New Jersey Posts:247,775 Points:1,131,700 Joined:Apr 2007	Message Posted: Nov 4, 2009 12:10:41 AM Ignore CobraLeader Report Abuse As a reminder Mr. President, look what happened to your protege New Jersey governor at the polls yesterday. By the way, the President campaigned for and did commercials for Jon Corzine and he LOST by 5%. Now we have the first Republican governor since Christie Whitman.
PaylessKY Champion Author Kentucky Posts:3,570 Points:661,355 Joined:Oct 2008	Message Posted: Nov 4, 2009 12:10:13 AM Ignore PaylessKY Report Abuse If this passes your home heating and cooling will go up too.
Toppers Champion Author Atlanta Posts:4,097 Points:1,498,140 Joined:Mar 2005	Message Posted: Nov 4, 2009 12:09:49 AM Ignore Toppers Report Abuse Speculators beware...
Sneakers55 Champion Author Houston Posts:31,948 Points:1,292,545 Joined:Nov 2005	Message Posted: Nov 4, 2009 12:09:21 AM Ignore Sneakers55 Report Abuse WillCody wrote: >Are we just now realizing that "cap & trade" really >does mean "cap & TAX"? No taxes are involved as the US Treasury is planning to give away the pollution permits.
FlyNFool Champion Author South Carolina Posts:3,556 Points:719,295 Joined:Aug 2008	Message Posted: Nov 4, 2009 12:08:38 AM Ignore FlyNFool Report Abuse Once again, we the people get screwed. Vote them all out in 2010!
strakey All-Star Author California Posts:552 Points:203,750 Joined:Oct 2008	Message Posted: Nov 4, 2009 12:08:26 AM Ignore strakey Report Abuse Destroying America one step at a time!
Bus561 Champion Author Lexington Posts:11,467 Points:2,238,625 Joined:May 2004	Message Posted: Nov 4, 2009 12:08:24 AM Ignore Bus561 Report Abuse This dirty conniving law will do nothing but cost every taxpayer because of political dirty work by Obama and the entire democratic congress.
CobraLeader Champion Author New Jersey Posts:247,775 Points:1,131,700 Joined:Apr 2007	Message Posted: Nov 4, 2009 12:06:05 AM Ignore CobraLeader Report Abuse Another bad law passed by a bad congress and a worse president. Let's work on unemployment and jobs first!
eddyp94 Champion Author Ontario Posts:4,146 Points:866,410 Joined:Mar 2008	Message Posted: Nov 4, 2009 12:04:16 AM Ignore eddyp94 Report Abuse they have to get their tax money some how....
eaglev Champion Author Oklahoma City Posts:2,371 Points:609,615 Joined:Jul 2005	Message Posted: Nov 4, 2009 12:02:19 AM Ignore eaglev Report Abuse They want to tax by the mile driven to go along with it.
rodzilla123 All-Star Author San Diego Posts:936 Points:285,775 Joined:Jul 2008	Message Posted: Nov 4, 2009 12:00:20 AM Ignore rodzilla123 Report Abuse I Promice you. The Crap and Tax bill will add much more than 13 cents to every gallon of gas. But besides that it will add more to every drop of energy used everywhere. Rubber and all plastic products will jump 2 or 3 times, literally everything will go up, that is, everything but wages.... Sooo... Hows that Change you can Believe in doing for you?????
JohnJ55 Champion Author Dayton Posts:2,016 Points:959,920 Joined:Jul 2007	Message Posted: Nov 3, 2009 11:51:32 PM Ignore JohnJ55 Report Abuse it'll be a lot more than that
DAK1960 Champion Author Illinois Posts:1,912 Points:401,110 Joined:Nov 2008	Message Posted: Nov 3, 2009 11:48:41 PM Ignore DAK1960 Report Abuse cap and trade is another obama lib way of taking our money
judgemobile Champion Author Ohio Posts:2,741 Points:1,484,260 Joined:Nov 2005	Message Posted: Nov 3, 2009 11:47:36 PM Ignore judgemobile Report Abuse we NEED to stop Cap and Trade--a similar candidate supporting it was DEFEATED in COAL COUNTRY in Virginia today.
truckguy115 All-Star Author Orange County Posts:855 Points:141,695 Joined:Apr 2008	Message Posted: Nov 3, 2009 11:45:54 PM Ignore truckguy115 Report Abuse just more money to take out our pockets.
joelimo Champion Author New York Posts:23,331 Points:1,407,650 Joined:Aug 2006	Message Posted: Nov 3, 2009 11:42:02 PM Ignore joelimo Report Abuse Z51Corvette,,,more like no cap on tax!
Z51Corvette Champion Author Austin Posts:4,120 Points:799,890 Joined:Jan 2008	Message Posted: Nov 3, 2009 11:40:52 PM Ignore Z51Corvette Report Abuse This is a bunch of BS... Why don't you try and tax a Volcano after it erupts. Simply ludicrous! So why is Ethanol being FORCED upon the American public! No answers... Well how's this one... it wasn't selling and the government's funding of the corn growers needed some DOLLARS... So they created the demand by MAKING US use it. It is bad stuff and will cause us to use more oil than before, as it is a negative energy source.
WillCody Champion Author Austin Posts:2,512 Points:541,200 Joined:Jul 2008	Message Posted: Nov 3, 2009 11:34:15 PM Ignore WillCody Report Abuse Are we just now realizing that "cap & trade" really does mean "cap & TAX"?
CruisinLinda Champion Author Tallahassee Posts:6,431 Points:1,290,210 Joined:Sep 2005	Message Posted: Nov 3, 2009 11:33:03 PM Ignore CruisinLinda Report Abuse In contrast non-carbon fuel and electricity generated by non-carbon fuel (hydro, wind, solar, geothermal, nuclear) should be incredibly cheap since their producers will qualify for carbon credits they can sell.
woodeye55 Champion Author Gary Posts:2,274 Points:898,830 Joined:Mar 2006	Message Posted: Nov 3, 2009 11:31:37 PM Ignore woodeye55 Report Abuse I'll second the comment BartBuzz.
BartBuzz Champion Author Atlanta Posts:3,913 Points:805,035 Joined:Aug 2006	Message Posted: Nov 3, 2009 11:29:49 PM Ignore BartBuzz Report Abuse Thank you President Obama. In fact we'll show you how much when the 2010 midterm elections roll around. The Virginia and New Jersey election results are just the beginning. Keep conserving.
tedjm1 Champion Author New York Posts:1,507 Points:166,030 Joined:Dec 2006	Message Posted: Nov 3, 2009 11:28:03 PM Ignore tedjm1 Report Abuse Sounds good on the surface, but what does it really mean? Exactly how will this affect the consumer & big oil. Nothing is ever fully explained by the powers that be. Answers are given that leave many questions.
Xpoint Champion Author Idaho Posts:5,316 Points:690,600 Joined:May 2004	Message Posted: Nov 3, 2009 11:25:57 PM Ignore Xpoint Report Abuse If you have enough money to buy carbon credits, you can pollute as much as you want.
BrucePen Champion Author Ontario Posts:2,773 Points:590,820 Joined:Sep 2008	Message Posted: Nov 3, 2009 11:18:46 PM Ignore BrucePen Report Abuse a complete sham.
Bartboro Champion Author Georgia Posts:1,032 Points:532,310 Joined:Sep 2008	Message Posted: Nov 3, 2009 11:12:49 PM Ignore Bartboro Report Abuse That is a bad idea. Why make everybody mad for no real reason.