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Friday, June 06, 2008

What John Warner Doesn't Know Can Cost You

Senator John Warner to Fox's Neil Cavuto: "Just why [gasoline] prices have skyrocketed, we know not."

Shouldn't the co-sponsor of the Lieberman-Warner global warming bill, which several independent econometric studies have concluded would significantly raise consumer gasoline prices, have bothered to learn the mechanics of gasoline pricing before creating, co-sponsoring and promoting his bill?

Warner, in the same interview, called concerns that his bill would raise gas prices "purely a scare tactic." One wonders how he could possibly know.

Ben Lieberman at the Heritage Foundation doesn't think gas increase fears result from a scare tactic.

Says he:
A recent study by The Heritage Foundation estimates a cost increase of at least 29 percent by 2030, or $1.10 per gallon based on current gasoline prices. The Environmental Protection Agency is a bit less pessimistic, estimating a price boost of 53 cents per gallon by that year. But others predict an earlier impact - a National Association of Manufacturers' study projects as much as $1.07 more per gallon by 2014.
Anyone want to pay anywhere from .53 - $1.10 more per gallon of gas just to have an outside chance -- a very remote outside chance -- of reducing global warming by 0.013 degrees (C)?

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Posted by Amy Ridenour at 3:26 AM

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