The People of America's Oil and Natural Gas Indusry

Climate Bill = Higher Diesel Prices

Jane Van Ryan

Jane Van Ryan
Posted July 27, 2009

In a recent post on the Heritage Foundation's blog The Foundry, David Kreutzer, senior policy analyst in energy economics and climate change, talks about the effects of cap and trade on diesel prices that will impact truckers, farmers and consumers in the United States.

He says:

"By artificially restricting use of fossil fuels (which provide 85 percent of America's energy), the Waxman-Markey bill will drive up energy costs of all sorts. One example is the price of diesel fuel. By 2012, the first year of the Waxman-Markey caps, diesel fuel prices are expected to have risen to $3.75. Waxman-Markey would tack on another 20 cents."

For more information, read the full blog post.