Gateway Pundit Under my plan of a cap and trade system electricity rates would necessarily skyrocket. Businesses would have to retrofit their operations. That will cost money. They will pass that cost onto consumers." Senator Barack Obama Speaking on Cap and Trade San Francisco Chronicle January 17, 2008 Barack Obama admitted last year that cap and trade legislation would cause electricity prices to skyrocket. Cap and trade will likely cost $700 to $1,400 dollars per US family per year: Democratic Congressman John Dingell (D-MI) summed up cap and trade at a Congressional hearing on April 24th-- "It's a Great Big Tax!" But, this didn't seem to bother House Democrats last night. The Democratic members of the Energy and Commerce Committee passed the massive cap and tax bill late last night. WCBSTV reported, via Free Republic: They haven't a clue, talk about fear mongering Legislation imposing the first nationwide limits on the pollution blamed for global warming advanced in the House late Thursday, clearing a key committee despite strong Republican opposition. The Energy and Commerce Committee approved the sweeping climate bill 33-25 after repeatedly turning back GOP attempts to kill or weaken the measure during four days of debate. The panel's action increases the likelihood that the full House for the first time will address broad legislation to tackle climate change later this year. The Senate has yet to take up the issue. Rep. Henry Waxman, D-Calif., the panel's chairman, said the bill represents "decisive and historic action" to increase America's energy security and deal with global warming. "When this bill is enacted into law, we will break our dependence on foreign oil, make our nation the world leader in clean energy jobs and technology, and cut global-warming pollution," said Waxman. The bill was crafted by Green groups including one of Al Gore's environmental groups. GOP members of the House Committee released a statement late last night. The bill passed by democrats will regulate hot-tubs: House Democrats used political muscle and party loyalty on Thursday to ram through an anti-global warming bill that opponents caution could cost a family of four $2,937.38 a year. Were not going to raise your taxes, Right!!!! The action came after a marathon committee session that spent 37 hours over four days methodically rejecting 56 separate Republican efforts to learn the full cost of the bill, to prevent scams in its trading system and even get the feds out of hot tubs. The massive, 946-page Waxman-Markey global warming bill was named for its authors, House Energy and Commerce Committee Chairman Henry Waxman, D-Calif., and U.S. Rep. Ed Markey, D-Mass. It passed the Waxman committee on a vote of 33-25. ...A trio of amendments by Radanovich to prevent the federal government from imposing its regulatory will on “portable electric spas, hot food cabinets and water dispensers.” The Democratic bill contains language – a matter initially denied by its authors – that directs federal authorities to regulate hot tubs. Republicans were cool to the idea, but hot-tub Democrats tested the water and decided it was fine. More... Elector of Saxony adds: Better we get into the Obama Depression sooner rather than later. The guy is a complete moron, and it is better that even philosophy professors start to realize it when their electric bill goes to $600 a month. Once bread is 8 bucks a loaf, even the most moronic hippie will realize that Obama is a one-man economic plague. There are very few voters who WANT to starve while living in a tent. Hope and Change.