Based on an Article by Senator
John Cornyn, “the oil-and-gas industry . . . [employs] More than 300,000 Texans . . . [generating] nearly 7 percent of the wages . . .”.
He goes on to describe how new tax proposals would impose more then $30 billion in new taxes over the next 10 years, and claims that Texans would pay the biggest share of these new taxes.
The bill Senator Cornyn is most likely referring to is H.R.2454 – American Clean Energy And Security Act of 2009. More commonly known as “Cap-and-Trade”. It passed the House by a narrow margin in June, and today is still waiting to be voted on by the Senate.
The bill is expected to reduce so called “Green-house” gasses by 17 percent, but in reality it only addresses carbon emissions, which is actually only a small percentage of the total global gasses believed to cause the earth become warmer. Water vapor is by far the biggest contributor, but more recently the attention has been given to cows, thanks to their emissions of Methane Gasses.
Fao Newsroom reported: “According to a new report published by the United Nations Food and Agriculture Organization, the livestock sector generates more greenhouse gas emissions as measured in CO2 equivalent – 18 percent – than transport”.
What does this mean?
We would produce significantly less “Green House Gases”, and possibly improve our health, simply passing on the meat, and saving some money at the grocery store, then we would by significantly increasing taxes on energy; possibly crippling our already fragile economy.