A video recorded interview with Obama has him admitting that "cap and trade" will cause energy costs "to skyrocket." Here is what he had in mind:

A comprehensive report from Heritage includes this cost projection for energy costs compared to the monthly cost of energy from coal.

Also, understand that "RES" is Renewable Electricity Standard.

There are federal studies of the costs of an RES that conclude that it would add no more than a few percent to electric rates,[8] but these studies do not take the full cost of wind and other renewables into account. This Center for Data Analysis (CDA) Report provides such a comprehensive economic analysis.

CDA analysis projects that an RES as outlined below would:

• Raise electricity prices by 36 percent for households and 60 percent for industry;
• Cut national income (GDP) by $5.2 trillion between 2012 and 2035;
• Cut national income by $2,400 per year for a family of four;
• Reduce employment by more than 1,000,000 jobs; and
• Add more than $10,000 to a family of four’s share of the national debt by 2035.