Posted by
Always To The Right on Wednesday, April 22, 2009 2:54:57 PM
Republican opponents to Barack Obama’s cap-and-trade policy claimed
that the costs passed along to the energy consumer would eventually
amount to about $3100 a year, calling this a tax by other means.
Proponents scoffed at the suggestion, claiming that the actual cost
would be less than a tenth of that amount. They cited John Reilly, an
MIT professor who claimed that the GOP lied about the study he
conducted in order to concoct that number — and organizations from newspapers to Think Progress to MS-NBC and even the Wall Street Journal used his statement to call Republicans liars for the last several weeks.
They may have to eat those words. Professor Reilly has rechecked
his figures, and now he says that not only were the Republicans right
after all, they actually underestimated the costs to the consumer. John McCormack scores the exclusive