Senate Majority Leader Harry Reid is expected to introduce a "slimmed down," version of Cap and Tax this week, but regardless of whether the bill is full blown regulation or not, it is still going to cost tax payers money. According to Reuters, democrats plan to pay for the bill by increasing taxes on the oil and gas industry, which really means higher taxes for consumers. I recall our President promising that taxes on people making less than $250,000 would not be raised "one dime." The majority of Americans buy gas, so that promise is broken. Not to mention that more regulation gives oil and gas companies even more incentive to take their operations oversees.
