Cap and Trade Tax nightmare

"American Clean Energy and Security Act," H. R. 2454.
If enacted, H. R. 2454 would be the biggest government takeover of the economy since the Second World War, which is the last time energy, food, and other basic commodities were rationed. It would also be the biggest tax increase in the history of the world and would cause a colossal transfer of wealth from consumers to big businesses.
The ostensible purpose of Waxman-Markey is to contain global warming by reducing carbon dioxide and other greenhouse gas emissions. The cap-and-trade scheme at the heart of the bill would do this by limiting severely the amount of energy derived from the three carbon-dioxide producing fuels -- coal, oil, and natural gas -- Americans would be allowed to use. Currently, over 80% of U. S. energy comes from these three fuels simply because they are the least expensive fuels available. Waxman-Markey would require cutting emissions by 17 percent below a 2005 baseline by 2020, 42 percent by 2030, and 83 percent by 2050...
How far might energy prices rise under Waxman-Markey? It's hard to tell, but it's clear that committee Democrats think it may require more than doubling electric rates and gasoline above five dollars a gallon. President Obama agrees. When Obama was running for President, he told the San Francisco Chronicle on January 17, 2008, "Under my plan of a cap-and-trade system, electricity prices would necessarily skyrocket."