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A View from the Altar / Here comes your middle class tax cut, Obama style.
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Here comes your middle class tax cut, Obama style.

According to the Energy Information Administration, the average electric bill in the United States is about $99.70 per month.

According to the Obama administration, the proposed Waxman-Markey “cap-n’-tax” energy bill will cost the average family $1761 per year.  This equates to $146.75 per month just for the price of energy taxation.  The new total (average) bill for juice would then be $246.45.  In round numbers, you’d spend $100 for the power and another $150 in federal taxes on it.

Therefore, the Obama energy tax will cause your power bill to increase by an average of just over 147 percent.  Look for southern states to kick up sand over this since power bills in the sultry South tend to be way higher than the national average.

Here at A View from the Altar, I’ve been predicting Waxman-Markey would make electricity prices increase between two- and threefold based on the extraordinary cost of green gadget energy.  On a capacity factor, per horsepower basis, solar energy plants and windmills both cost more than nuclear construction and are highly unreliable, meaning that all the old style plants have to keep operating to fill in the gaps, further driving costs up.  The price of coal-fired electricity is impossible to predict because you can’t tell what Congress will do with the tax laws.  But it doesn’t matter anyhow because environmental extremism has virtually shut down all coal plant construction in the United States.  (In case you were wondering where all those high paying construction jobs went.)

That leaves three options on the table: nuclear, gas, and blackouts.

Hmm… have you checked the latest news on natural gas prices?  Even though reserves are up and consumption is relatively stable since 2001, prices nevertheless have recently increased by about 13 percent from last year.  I’m no analyst on fuel markets, but I think I can figure out where to put at least one piece of that puzzle… especially since electric utilities are now just about the largest consumers of natural gas and they’re building gas-fired plants at a rate of several tens of millions of horsepower per year for the foreseeable future.  If I were a speculator, I might bet pretty heavily on natural gas prices going up.

otherbrothersteve@gmail.com

2 Comments

  1. Dad

    In my jargon a bill which is 147% of last years bill increased by only 47%. still bad.

    Posted on 16-Sep-09 at 20:26 pm | Permalink
  2. The total bill would be $99.70 plus the additional $147. Total increase is well over 200 percent. But I will clarify so this is more clear to other readers.

    Posted on 16-Sep-09 at 20:44 pm | Permalink

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