There is an interesting and informative series of articles on the website of Michael Williams, Texas Railroad Commissioner about the consequences of the recently passed cap and trade legislation in the House of Representatives for the state of Texas.
Michael Williams is running for the U.S. Senate seat to be vacated by Senator Kay Bailey Hutchison as she runs for governor. He is sharp, ambitious, articulate and from all indications, a good guy. I fully support his run for the U.S. Senate.
Williams points out that the National Black Chamber of Commerce, The Brookings Institution and the Heritage Foundation state that cap and trade will reduce national GDP, eliminate jobs and cost families a lot of money.
Susan Combs, Texas Comptroller, estimates "the typical Texas family (3.4 members) could expect to spend up to an additional $1,136 on medicine, food, clothes and other household goods and services over the next year if cap and trade passes. The price of everything from cell phones, diapers, aspirin and lipstick will rise because of increased production costs. As a regressive tax, this will disproportionately affect single moms, the poor and minorities."
An additional $1,136 is a hefty chunk of change for a family struggling to make ends meet in today's difficult economic times.
Texas, the second most populous state, is the energy capital of the country. Combs says, "the current plan to implement mandatory emissions caps will weigh far more on Texas than other regions of the country." Perhaps President Obama privately enjoys the slap to the very red state of Texas.
On agriculture, Texas ranks third for agricultural exporting, providing 1.7 million jobs. Cash receipts in 2007 totaled $19.9 billion with the end result of $100 billion to the state's economy. The cap and trade, as passed by the House of Representatives, will impact 3,800 Texas farms, 28,000 beef cattle operations and 640 diaries. According to the Williams web site: "For Texas cotton gins alone, the estimated cost of permitting is pegged at more than $8.5 million for 248 relatively small facilities. CO2 regulations will also increase outlays for all Texas farms, producers and processors for things like equipment installations, irrigation, fertilizer and electricity. The regulations will also have a negative impact on the rural communities in which many of these businesses operate."
Encourage your Senators, strongly, to say no to cap and trade legislation as it is now presented.