To the Editor:

Theres a lot of frustration around these days with the big oil companies and the price of a gallon of gasoline. Heres some real concerning thoughts on future gasoline and energy costs in the U.S.

Its not just the big oil companies and distributors that are responsible for rising prices, but several other factors are at work contributing to the equation that leads to the price at the pump. Other major factors would be 1) the speculators (contract market price/barrel), 2) imports (OPEC, Canada, and Mexico), and 3) Washington. The first, creates the future costs of a barrel of oil that the oil companies must pay for at the refineries for their contract product requirements (now around $70/barrel). The second, OPEC, is the major source that oil contracts emanate from (we only produce a small percent of our consumption). And third, government taxes, regulations, and false expenses are becoming a huge influence on the price of a gallon of gasoline at the pump.

First consider that all of the above costs to the energy infrastructure are expenses. Expenses determine the end cost of the product. The Administration and Congress are in the process of driving the cost of a gallon of gas sky high, along with all of our other energy costs. HR 2454, the Waxman/Markey "American Clean Energy and Security Act," will make todays gasoline cost look a huge bargain. Heres what HR2454 is predicted to do: Under the justification of cleaning up the air by reducing fossil fuel carbon emissions, the American people are being sold a monstrously expensive lie with this hidden tax bill. HR2454 will tax every segment of the fossil fuel chain -- drilling, mining, transmission, refining, and distribution.

Here are some estimates of what the results of this HR 2454 will be, as published in the June issue of Oil & Gas Journal: It will cut aggregate gross domestic product by $9.6 trillion; destroy 1.105 million jobs on average, peaking in the worst years at 2.476 million jobs; raise electricity rates 90% after adjustments for inflation; raise inflation adjusted gasoline prices by 74% ($2.95 x 1.74 = $5.13); raise residential natural gas prices by 55%; raise the average familys home energy bill by $1,500 per year; raise the cost of everything we buy; raise taxes to cover the subsidies paid to make alternative energies more competitive with fossil fuels.

HR 2454 does nothing to effect climate change except destroy the American economy. Hopefully America will wake up on this one before this bill slides through unnoticed under false pretenses. W. James Chamberlain Cheboygan