06 Jun 2008 What John Warner Doesn’t Know Can Cost You

Senator John Warner to Fox’s Neil Cavuto: “Just why [gasoline] prices have skyrocketed, we know not.”

Shouldn’t the co-sponsor of the Lieberman-Warner global warming bill, which several independent econometric studies have concluded would significantly raise consumer gasoline prices, have bothered to learn the mechanics of gasoline pricing before creating, co-sponsoring and promoting his bill?

Warner, in the same interview, called concerns that his bill would raise gas prices “purely a scare tactic.” One wonders how he could possibly know.

Ben Lieberman at the Heritage Foundation doesn’t think gas increase fears result from a scare tactic.

Says he:

A recent study by The Heritage Foundation estimates a cost increase of at least 29 percent by 2030, or $1.10 per gallon based on current gasoline prices. The Environmental Protection Agency is a bit less pessimistic, estimating a price boost of 53 cents per gallon by that year. But others predict an earlier impact – a National Association of Manufacturers’ study projects as much as $1.07 more per gallon by 2014.

Anyone want to pay anywhere from .53 – $1.10 more per gallon of gas just to have an outside chance — a very remote outside chance — of reducing global warming by 0.013 degrees (C)?