Put Cap-n-Trade In Your Pipe? Inflation Hits ‘Ol Va Home

WSJ’s estimate of inflation’s monthly cost to folks jumped from $250 to $276 & paper says Millennials, Latinos & middle class “are at top of the list” feeling the squeeze. Progressive “War on Fossil Fuels” helping as Dems now urge fed gas tax moratorium while insisting on cap-n-trade pacts that drive up energy prices?

One of the editors’ recent concerns & illustrated dilemma dealt with Virginia’s new governor Youngkin’s move to withdraw from the northeast’s “regional state pact that would raise electricity prices.” The state’s General Assembly authorized then Gov. Northam to join a cap-and-trade accord with 10 other states, thereby imposing CO2 emissions cap on power plants via paid permits for those exceeding the cap. “This [is] an energy suicide pact,” the WSJ argued in support of Gov. Youngkin’s keeping a key campaign promise, in that “electric rates are now rising in tandem with gas prices” with future prospects of runaway energy inflation a possibility, i.e., if Europe is a bellwether.

Explained the WSJ: “Liberals hope cap-and-trade will accelerate the shift to renewable energy … [yet in Europe] wind and solar power have [indeed] increased due to generous subsidies, but so has demand for gas power to back them up. The result: Skyrocketing permit prices and electric rates. Europe provides a lesson to Americans of what not to do at home” as other reports say electric bills in the northeast have already seen double-digit increases.

Davd Soul