Who Will Pay for Cap and Trade?

" Richardson as his health care and regulatory reform weren't enough congress also tackling environmental policy right now. Leaders say they could have a compromise on cap and trade legislation ready for a vote by the end of the week."

" Now critics say the climate bill will dramatically raise energy because posing another hurdle to economic recovery we welcome former Virginia governor. And chairman of the energy freedom senator George Allen good to see -- thanks for being here. Great to do if you Davis and -- now didn't have you guys put together. An accounting of how much all this."

" Would cost. Sure we we know for sure that what we'll have as higher electricity bills and found for families and businesses across the country. How -- natural gas bills higher oil bills. And what we did is actually compile all the states plus the district and rank them in order. Of their electricity rates and what you'll find in that ranking. Is that the states they used predominately cold or Hydro electric have lower electricity rates than those states that do not. And so those states will be did the people in those states will be disproportionately. Adversely affected. By this and I know as a governor when we were recruiting businesses to comment to Virginia especially technology companies electricity was a big cost. Of doing business and having more you know lower electricity rates in Virginia than what they have -- say New Yorker Connecticut. Our New Jersey gave us a great competitive advantage the same applies to other states and applies to our country. And and what they're trying to do -- this cap and tax skiing. Is impose this on our country no other country China Russia India won't do this it failed and in Europe. And it's ineffective economic a unilateral disarmament."

" All right governor let let me then bring up what Mike Morris of American Electric Power of the the nation's largest -- burger who's in the midwest Columbus Ohio had to say he's building a -- carbon sequestration. Plant in your state that believe in West Virginia so. He said I'm in Virginia I'm Virginia I'm sorry I'm sorry opportunists and they serve Virginia they -- Virginia okay well all right so there's there's that connection certainly and and he knows it's coming. And he said. We've just got to at least get some point on the horizon to aim for and do they know it's coming they know that somebody's got to figure out a way to get to. To keep things cleaner but it will cost money initially how do you bridge that gap between making sure that it's done fairly that's what we wanted to solution."

" Well -- one as a solution a solution should be want to make sure that we have affordable efficient energy for our country. Coal is a plentiful resource and our country and over the last several decades. Cold is being used for generating electricity much cleaner would lower sulfur dioxide lower nitrogen dioxide 99% of the articulate matter. Has been removed and and carbon management will be part of the future. And we should certainly encourage that approach but what this cap and tax scheme does. Is it really knocks out in harm's 85% of the energy that we use in our country. But 50% of our electricity and our country is generated by coal. And then as far as some ground transportation. And also for electricity we end up with what some oil and I and a lot of natural gas. And so we ought to do is be looking up positive constructive ideas such as an encouraging continuation of clean coal technology. Electrifying your gas to find colas are doing an Indiana and also in Montana North Dakota. We also ought to allow states such as Virginia to explore for natural gas off our coast. I'd rather be getting the natural gas oil from Virginia that -- big dependent or. Worrying about they did the vagaries and non diluted some of these countries around the world. Means jobs for our country we have to look at ways that are positive constructive. The capital tax scheme is one that is clearly bad for families bad for jobs bad for American competitiveness. And we have the energy freedom center. Dot org if you want to look at the statistics and in your viewers states we'll see what states are doing better with affordable electricity and which are not."

" Governor it's time cap and trade but I got to ask you anyway governor Mark Sanford as you know admitted to having affairs today does that take him. Out of the running as a contender for the president to head the GOP."

" How I think most people worrying about their own families and the food and fuel bills I know Mark Sanford is a friend and and I noah's wife Jenny and I and I feel right now for. For Jenny in the boys the political considerations are minor this is this is personal for that family and and I know that people in South Carolina got a lot of good friends down there. Feel for Jenny in the boy she's been a great First Lady and and this is a tough situation politics who cares I think most folks though. They can be watching what congress is doing in the House of Representatives of I don't harm people at their kitchen tables."

" Governor George Allen former governor of idea on cap and trade thank you."