The following document highlights the top myths being asserted by opponents of the Senate's global warming bill with the corresponding facts. In short, gas prices under the Climate Security Act may only modestly increase, and under some models may in fact go down. In addition, the measure provides tax relief to consumers and will spur investment in renewable sources of energy, which in turn will create millions of new jobs.

RHETORIC: The Climate Security Act Will Increase Gas Prices by $1.40 by 2050.

Ø REALITY: The Bush Administration Itself Concedes the Climate Security Act May Only Nominally Increase Gas Prices. According to the latest modeling from the Environmental Protection Agency, the Climate Security Act could raise gas prices by 53 cents by 2030. {EPA Analysis of S.2191, 3/14/08}

Ø REALITY: Families Will Be Spending Hundreds Less on Fuel by 2020 Under the Bill. Analysis by the National Resources Defense Council found that annual household spending on gasoline and other vehicle fuel will be less than consumers spent in 2007, under the Climate Security Act. The NRDC report found the average yearly household fuel bill in 2020 is likely to be up to $530 lower and in 2030 is likely to be $590 lower. The lower total fuel bill is primarily a result of higher fuel efficiency and greater use of alternative fuels that more than fully offset any higher fuel prices that would result from the law. {NRDC: Household Transportation Fuel Bills and the Climate Security Act Including Savings for 2020 and 2030: June 2008}

Ø REALITY: The Climate Security Act Will Drastically Reduce Oil Imports. In a statement responding to the President's veto threat on the bill, the Environmental Defense Fund wrote, "analysis based on data from MIT shows that the Climate Security Act would reduce oil imports by at least half a trillion dollars through 2030." {Environmental Defense Fund Press Release, 6/2/08}

Ø REALITY: The Price of Gas Has Skyrocketed Over This President's Term. In his Statement of Administration Policy, the administration stated one of the reasons the President could veto the bill was because it "would increase gasoline prices another $0.53 per gallon relative to the expected price in 2030 and another $1.40 per gallon relative to the expected price in 2050." Interestingly, since President Bush has taken office, the price per barrel of crude oil has risen 310 percent, from $32.12 on January 26, 2001 to $131.58 on May 23, 2008. {Statement of Administration Policy, 6/2/08; EIA Cushing, OK Crude Spot Price}

RHETORIC: Energy Prices Will Increase Under the Climate Security Act.

Ø REALITY: The Climate Security Act Provides Relief to Consumers Through Their Local Electric and Gas Utilities. The bill provides $911 billion through 2050 to consumers through local electricity and gas utilities (local distribution companies) to ensure that consumers are protected from increases in energy costs, and to promote low carbon energy, and energy efficiency. {Summary of Substitute to S. 2191, 5/21/08}

Ø REALITY: The Measure Calls for Billions in Tax Relief For Consumers. The bill sets aside a nearly $800 billion tax relief fund through 2050, which will help consumers in need of assistance from rising energy costs. The measure calls on the Senate Finance Committee to develop the details of the relief. {Summary of Substitute to S. 2191, 5/21/08}

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For the entire statement, go here.

Granted, the CSA bill, while extensive and far-reaching, still falls somewhat short of the ultimate goal, but it is a step in the right direction. We have to start somewhere, after all.