Thursday, July 28, 2005

Can we afford the energy bill?

It's bad enough that the energy bill now working its way through Congress may cost taxpayers close to $36 billion over the next five years. Worse, it actually contains provisions that would increase the cost of energy in the years ahead. Can we afford the energy bill?, Washington Times

Most egregious is the gigantic transfer of wealth from car drivers to Midwest corn farmers (and Archer-Daniels-Midland) via a new 7.5-billion-gallon-a-year ethanol mandate, which will raise gas prices by as much as a dime a gallon on the East and West coasts. Oh, and don't forget the $15 billion (a 155% increase) in federal home heating subsidies, $100 million for "fuel cell" school buses, and $6 million for a government program to encourage people to ride their bikes... Capitol Hill Blowout


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