Rep. Max Frost: You Won’t See a Penny of Fossil Fuel Company Profits
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1m 31s
FROST: “One of President Trump’s first executive orders, called unleashing American Energy, is supposedly aimed at restoring American prosperity through affordable and reliable energy. However, the methodology is extremely weak. First, we continue to say that we are going to be imposing tariffs on goods from Canada, including crude oil, but the U.S. is heavily reliant on Canadian oil because most of the oil produced here is not compatible with our refineries and vehicles. Tariffs leveled — levied on Canada will increase energy prices for Americans. And it is not just energy. Higher energy costs make it more expensive to transport nearly all goods and materials across the country. So from clothing to food, the cost of energy is important in every single thing. Second, a key component of the executive order is ending the use of the social cost of carbon measured in federal policymaking. This measure enables agencies to accurately account for all the costs of carbon-based fossil fuels and ensure companies that are doing the polluting are paying for the costs of the pollution. I just want to paint a picture of why it is so important to use the social cost of carbon measure. Let’s say a new gas-fired power plant is built in the historic town of Eatonville, Florida, which is in my district. A family that lives a few miles away won’t see a penny of that company’s profits, but they will have to pay more when their kids get asthma or their parents have lung cancer.”
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