Wednesday, December 14, 2011

USA Today: Electricity Prices Necessarily Skyrocket

Remember how, in May of 2009, the president said that, "under my plan... electricity rates would necessarily skyrocket"?

Well, I'm sure the "middle class" -- whoever that is -- appreciates the one campaign promise that Barack Obama kept.

Electric bills have skyrocketed in the last five years, a sharp reversal from a quarter-century when Americans enjoyed stable power bills even as they used more electricity...

...Households paid a record $1,419 on average for electricity in 2010, the fifth consecutive yearly increase above the inflation rate, a USA TODAY analysis of government data found. The jump has added about $300 a year to what households pay for electricity. That's the largest sustained increase since a run-up in electricity prices during the 1970s...

...Electricty [sic] is consuming a greater share of Americans' after-tax income than at any time since 1996 — about $1.50 of every $100 in income at a time when income growth has stagnated, a USA TODAY analysis of Bureau of Economic Analysis data found...

...High taxes, limits on air-polluting fuels and the expense of maintaining an underground transmission system keep consumer costs high, says ConEd spokesman Chris Olert.

But then again, maybe USA Today is some kind of propaganda arm for the right wing Visigoths.

Or perhaps the EPA is just an out-of-control, unelected, unaccountable bureaucracy bent on de-industrializing America in pursuit of the United Nations' thrice-debunked climate scam.

Hat tip: Mark Levin.

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