In laymen's terms, a utility company which operates a coal-fired facility would be required to pay the government for each unit of CO2 emissions which result from the burning of coal, natural gas, fuel oil, etc. The more carbon units utility companies use, the more they will be charged. The more they are charged, the more these costs will be passed along to the public.
Though Obama refuses to call Cap & Trade a "tax", he admits the cost regarding the energy needs of an average household will increase from $1,500 to $3,000 per year. But this would only be the tip of the proverbial iceberg. Every business in America would also see a drastic rise in operating costs which will be passed along to the consumer. Billions of dollars in American wealth will change hands as a result of a "tax" which literally will come out of thin air.
But, if passed into law, Cap & Trade will result in the largest tax increase ever imposed on the American people.
clipped from: rffm.typepad.com