Report: Obama Plans To Impose Carbon Tax On Emissions

Posted on November 8, 2012 by


It’s an environmentalist wacko’s dream come true, and it will drive up energy prices, making it difficult for the poor to afford electricity and heat.   Yet these are the people who claim to be the “compassionate” party of the “common man.”

Mathew Carr reports at Bloomberg:

Barack Obama may consider introducing a tax on carbon emissions to help cut the U.S. budget deficit after winning a second term as president, according to HSBC Holdings Plc.

A tax starting at $20 a metric ton of carbon dioxide equivalent and rising at about 6 percent a year could raise $154 billion by 2021, Nick Robins, an analyst at the bank in London, said today in an e-mailed research note, citing Congressional Research Service estimates. “Applied to the Congressional Budget Office’s 2012 baseline, this would halve the fiscal deficit by 2022,” Robins said.

Read more at Bloomberg

So much for what’s left of our manufacturing.  And they wonder why these industries are moving offshore?

Cross posted at