Energy price politics is not a new game in Washington. Typically, politicians blame the opposing side for higher gas prices. These days, higher prices are at the meter as electricity rates have more than doubled the inflation rate over the past year. Democrats have seized on President Donald Trump‘s promise to halve electricity prices, blaming him for rolling back green subsidies and layering bureaucracy on renewable energy projects. However, a little self-reflection is necessary.
As a reminder, let’s go back 17 years to what candidate Barack Obama said on the campaign trail. He told us that his cap-and-trade climate plan would cause electricity rates to “necessarily skyrocket.” The objective was to increase energy prices for families and businesses so they would consume less, and then, voila, America meets its emissions targets.
