Oct 10 2008

Texas Gov: Cap and Trade Will Be “Death Knell” for U.S. Oil Production

Published by Editor at 8:38 am under General

At a Clean Carbon Policy Summit speech, Texas Governor Rick Perry advocating building a more diverse energy portfolio, but warned energy experts of the dangers of cap and trade proposals moving through Congress.

He also warned against the ramifications of potential federal legislation regulating carbon without considering its impact on Texas and other oil-producing states. Gov. Perry opposes the proposed cap-and-trade measure which is essentially a tax on energy production and would create a disproportionate impact on Texas.

“Texas both produces and refines up to 25 percent of the nation’s crude oil,” Perry said. “These CO2 proposals moving through Congress would penalize Texas for fueling the rest of the nation. Congress needs to take the very serious implications of these proposals into consideration before it develops an ill-advised policy that will be the death knell for oil production in this country.”

The governor certainly has reason to be concerned.  Take a look at the price tag for Texas that the Leiberman-Warner bill, S. 2191 (the recently-defeated but certain to be revisited) will bear.

One response so far

One Response to “Texas Gov: Cap and Trade Will Be “Death Knell” for U.S. Oil Production”

  1. # b coleon 15 Oct 2008 at 8:43 am

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