From the Center for American Progress--Excuses, Excuses

Excuse #2 Global warming reductions will drive oil and gasoline prices even higher.

High energy prices are the result of status quo energy policies that heavily rely on a single fuel—oil—for a single use—transportation. Oil companies have seen record profits under the current approach—more than $650 billion from 2001 to first quarter of 2008. This year alone, oil prices have so far increased by 44 percent.

The Environmental Defense Fund conducted an assessment of various government and independent studies of the earlier version of the Climate Security Act and found that the median increase in gasoline price hikes would be 13 percent by the year 2030. This is an increase of slightly more than one half of 1 percent per year. To put that increase in perspective, gasoline prices rose 22 percent between January 7 and May 26, 2008 alone.

Reduction requirements for greenhouse gases would create economic incentives to dramatically increase motor vehicle efficiency, produce sustainable non-corn based biofuels, and reduce vehicle miles traveled. All would reduce consumption of gasoline and oil, which would reduce costs.


To read the other 9 excuses,click here.