Congressman John Shimkus is warning consumers will pay more and Southern Illinois' coal industry could be hurt if the Cap-and-Trade Legislation being proposed by some Congressional Democrats is approved. Shimkus, during a visit to Salem Friday, said he was fearful that job losses, like after the Clean Air Act Amendments of 1990, will occur. He also says prices will go up. "The premise is carbon dioxide emmissions is bad. We are going to charge people who emit. People who sell things will pass that cost back onto the consumer. MIT did an analysis and feels on average it could cost a consumer $3,100 a year," said Shimkus.
Shimkus says estimates vary, but electric prices could go up between 101 and 129 percent by 2030. Gasoline prices could jump between 71 cents and 2.53 per gallon by 2020. Natural gas prices, for home heating and fertilizer production, could go up between 108 and 146 percent by 2030.
Shimkus fears the proposal could impact several projects currently in the planning stages. They include coal gassification plans in Jefferson County and near Taylorville and a coal mine near McLeansboro. The Congressman thinks the Prairie State campus coal mine and power plant in Washington County is probably safe because construction is already underway.