From Nicolas Loris at dailysignal.com:

Draft regulations released Monday by the Environmental Protection Agency could cut carbon dioxide from existing power plants by 30 percent. Such a drastic cut will amount to a massive energy tax devoid of any benefit.

President Obama warned us it was coming, when he said in in 2008 that electricity prices would "necessarily skyrocket" under his cap-and-trade proposal. And when our elected officials rejected that, he said there was more than one way to skin the cat.

But now he's singing a different tune. Promoting the regulations, Obama said, "Your electricity bills will shrink as these standards spur investment in energy efficiency, cutting waste, and ultimately, we're going to be saving money for homes and for businesses."

Electricity bills will shrink? Is that a "if you like your insurance, you can keep it" type of promise?