The Spectacle Blog

Cap-n-Trade by Any Other Name

By on 1.26.11 | 4:37PM

Remember President Obama vowing, in his "shellacking" post-mid-term press conference, that there are 'other ways to skin that cat' now that cap-n-trade not only was rejected but led to electoral malaise?

My CEI colleague Marlo Lewis makes an important note in a blog post today. Specifically, last night Obama asked Congress to mandate that 80% of U.S. electricity come from ‘clean energy' by 2035. Amazingly enough, the Energy Information Administration (EIA) projected that under the House-passed Waxman-Markey cap-n-trade bill, about 80% of our electricity would come from ‘clean' sources by 2030.

And you remember the effect that Obama said was his goal of that scheme? Something about making 'electricity rates necessarily skyrocket'. See Marlo's post for the unsavory details.

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