Another Massive Energy Tax Looms on the Horizon

Posted on October 13, 2010


After getting their hopes dashed on cap and trade legislation, many legislators are still determined to impose an energy tax on Americans.Senator Bingaman (D-NM), along with 32 cosponsors, has introduced legislation that would create a 15-percent renewable energy standard. The RES comprises two distinct requirements.

First, electric utilities would be mandated to generate at least 11 percent of their electricity from renewable energy sources, such as solar and wind power. Secondly, four percent of this 15-percent requirement could be met by electric utilities achieving savings from energy efficiency measures.

All of these extra costs incurred by utilities would be passed on to customers in the form of higher electricity prices. These costs would be buried in electricity bills and therefore would be a hidden energy tax on customers.

via American Thinker: Another Massive Energy Tax Looms on the Horizon.