This post makes a point that I already made last Monday, but it bears repeating -- this time in the context of cap-and-trade.
Chaz Teplin gave some approximate numbers for how much Obama's cap-and-trade plan would raise energy prices (based on a $14.30/MT carbon price):
Effect of the Obama carbon price
- Petroleum fuel: adds 15¢/gallon
- Electricity: adds 0.8¢/kWh (compare to 7-10¢/kWh residential rates)
- Natural gas: adds 8¢/therm (compare to 85¢/therm residential rates)
The conclusion: "... energy prices would increase by about 10 percent. It's a start, but a very slow one." But that's not the whole story.