By EPW Blog  Friday, October 3, 2008

During a week where Americans were focused on perhaps the greatest economic challenges this country has faced in over a generation, House Democrats released a set of principles on October 2nd that outline an aggressive plan to cap greenhouse gas emissions. (See: "House Dems claim 152 supporters for aggressive cap-and-trade plan" - October 3, 2008 - LINK - Subscription Required)

The plan could be even more economically restrictive than the failed Lieberman-Warner Climate Security Act, which would have cost $6.7 trillion dollars, according to the bill's own sponsors. That $6.7 trillion cost would have been passed on to families and workers across the country in the form of higher gas prices, higher electricity and heating/cooling bills, more expensive consumer goods, and higher workplace costs.

As we learned during this past summer's debate on the failed Lieberman-Warner global warming cap-and-trade bill and with the recent victory on offshore drilling, the appetite of the American people to unlock America's affordable energy resources is very strong.  When it comes to being in touch with Americans, the House Democrats need a reality check.  The current financial crisis only reinforces the public's wariness about any climate bill that attempts to increase the costs of energy and jeopardizes jobs.