The U.S. House of Representatives recently passed the deceptively titled “American Clean Energy and Security Act of 2009,” also known as the Waxman/Markey bill. This cap and trade legislation, in some form, will be before the U.S. Senate early this fall. We strongly believe that if this type of legislation becomes law, it will have an enormous negative impact on the economy, the consumer, the refining industry, and employees of the refining industry. We need your help to oppose this cap and trade legislation.
We are all concerned about climate change and increasing carbon dioxide levels. But, the hidden taxes imposed by this legislation will lead to a significant increase in the price of gasoline and electricity, and more than a million jobs will disappear from our already crippled economy - with no measurable improvement in global climate change. This legislation, if it becomes law, will:
· Cause prices to go up significantly. One estimate has gasoline prices going up 77 cents per gallon and taxes jumping $800 billion over 10 years.
· Inequitably allocate carbon emission credits with the clear intent of penalizing the oil industry.
· Increase the cost of producing all goods in the United States. In turn, making us less competitive with developing countries like India and China who are not likely to follow the same rules.
· Reduce economic growth and severely reduce job creation.
· Increase the average family’s energy costs by an additional $1,500 per year or more.
As a leader in the refining industry, we have decided to engage in a full court press, so to speak, in opposition to the cap and trade legislation that is being considered. You may see our opposition campaign at our Valero Corner Stores beginning in early September. But, we will need each and every one of you to contact your members of Congress and express your opposition to any potential bill. We have created a resource at www.voicesforenergy.com that provides a fast and easy tool for contacting your legislator and learning more about this issue. You can also get information on www.valero.com.
Please visit www.voicesforenergy.com today. Your support is critical. Thank you for your dedication and support of our company, and thank you for being a voice for energy.
