Campaign ReleaseWASHINGTON Congressman Tom Cole (OK-04) issued the following statement regarding H.R. 2454, the Waxman-Markey cap-and-trade bill.
"The President said it best: cap-and-trade legislation will cause utility rates to 'skyrocket,'" Congressman Cole said. "The national energy tax the House passed today will cause energy prices to rise and it will force American manufacturers to relocate to other countries - countries with far less stringent environmental regulations than exist in the United States today."
"It is sadly ironic that in their effort to turn down the thermostat of the earth, Congress has actually set in motion a policy that will cause skyrocketing utility prices, lost American jobs, and more CO2 produced by companies operating in countries with little or no environmental regulations. It is a high-cost, no-benefit approach that should have been rejected."
"It is now up to the United States Senate to save the country from the disastrous consequences of legislation passed by the Democratic dominated House of Representatives," Cole concluded.