Renewable Electricity Standard: Same as a National Energy Tax
Nicolas Loris /
The probability of cap and trade becoming law rapidly diminished as more and more people saw it for what it truly is: a national energy tax. Since 85 percent of our energy comes from carbon-emitting fossil fuels, and the goal of cap and trade is to reduce carbon dioxide, a cap-and-trade system would raise the price of energy to discourage its use. Politicians knew very well that Americans wouldn’t stand for a national energy tax—especially during an election year—so despite several murmurs, the Senate failed to move legislation forward.
Now, Congress is working on another plan that would mandate higher electricity prices. What makes it more threatening than a cap-and-trade program is that it’s garnering bipartisan support. Senators Jeff Bingaman (D–NM) and Sam Brownback (R–KS) introduced legislation that would require utilities to provide 15 percent of their electricity from government-selected renewable energy sources (primarily wind and solar) by 2021. Known as a renewable electricity standard (RES), it may sound less intimidating, but it’s nothing more than a plan that would cause electricity prices to skyrocket, leading to unnecessary hardship for American families. Why?