Home > News > Congressman Upton Demands Declassification Of Censured Cap-And-Trade Cost Estimates | zero hedge

Congressman Upton Demands Declassification Of Censured Cap-And-Trade Cost Estimates | zero hedge

September 23, 2009 Leave a comment Go to comments

This is transparency under the Obama administration.  Censored figures of costs that we the taxpayers must deal with.

To top it off, Treasury numbers now show a MINIMUM household increase of about $1,700 in energy costs per year.  That’s over $140 per month.  At a minimum.

And all that money… where does it go?  Right into the government coffers.  It’s the largest tax increase in US history.

One of the most ambitious projects undertaken by the Administration and Goldman Sachs, that seeks to entrench the Wall Street oligarchy, is cap-and-trade. Yet, just like all the other initiatives percolating in Obama’s docket, there are still many open question marks surrounding this mega-project. And specifically its costs.

Recently congressman Fred Upton, a vocal opponent of cap-and-trade, submitted the following letter to Tim Geithner demanding increasing disclosure in a FOIA response, which had had key figures censored, whose disclosure would have provided much needed cost-side information.

In response to a FOIA request, Administration officials deliberately censored figures that specify the annual costs cap-and-tax will impose. The Treasury documents appear to confirm what Upton has been saying all along, that cap-and-trade is a national energy tax that will devastate American families.

As Upton points out, the Treasury blatantly removed the one most critical figure:

I am particularly interested in the one-page document entitled Domestic Climate Policy that was prepared by Judson Jaffe.  The Jaffe document omits important figures, most glaringly, on the annual costs under a cap-and-trade regime, stating, “It will raise energy prices and impose annual costs on the order of XXXXXXXX dollars.

Congressman Upton Demands Declassification Of Censured Cap-And-Trade Cost Estimates | zero hedge

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  1. September 23, 2009 at 6:48 am

    Congressman Upton is on the right track. Stay after them.
    Let all Americans in on the true cost of the Obama cap and trade plan ‘Cost’.

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