The senate version of the global warming bill has been drafted, the “Clean Energy Jobs and American Power Act.” This bill could have major implications on Texas A&M-University Commerce students if passed. The bill is said to steadily reduce carbon dioxide and other greenhouse gas emissions in a cost-effective manner, but the bill will have many effects on the prices of gas.
Senators Barbara Boxer and John Kerry of Massachusetts recently introduced this bill to the Senate, which included far more stringent reductions in carbon dioxide emissions than the bill that passed through the House of Representatives in June.
According to the Voices for Energy, the hidden tax on commodities imposed by this legislation could lead to a significant increase in the price of gasoline and other energy sources, and could cause more than a million job losses in an already crippled economy, with no measurable improvement on global climate change.
Some A&M-Commerce students find gas prices are already a challenge for them.
“I live here on campus, but some weekends when I just want to go home to Rockwall to see my parents, it’s a challenge because gas prices are already so high,” senior radio/television major Stacia Warnake said.
The American Petroleum Institute economic analysis estimates the House-passed climate change legislation could result in a gasoline price increase of 77 cents per gallon.
This means a 20-gallon fill-up will cost an additional $15.40. If a commuting student uses 20 gallons of gasoline a week, this is approximately an additional $800 a year. Another analysis estimates that by 2035, inflation-adjusted gasoline prices will rise by 74 percent.
“Students like me that commute will feel the biggest impact if this bill is passed,” senior Amanda Goodman said. “I have two children at home, and it is impossible for me to live on campus.”
Republican Senator John Cornyn from Texas recently made a speech in Houston addressing the cap and trade bill.
“Texans will pay more than other Americans because of our climate, because we have many energy-intensive industries and because we remain the nation’s leading producer of oil and natural gas, which will continue to contribute greatly to our energy supplies for decades to come,” Cornyn said.