As Obama said, under his policies, electricity rates would necessarily sky-rocket.
Excerpt: The coal industry is crying foul over new Environmental Protection Agency (EPA) regulations which they say will be among the most be costly rules ever imposed by the agency on coal-fueled power plants.
The result, industry insiders say: substantially higher electricity rates and massive job loss.
“The EPA is ignoring the cumulative economic damage new regulations will cause,” said Steve Miller, president and CEO of the American Coalition for Clean Coal Electricity (ACCCE). “America’s coal-fueled electric industry has been doing its part for the environment and the economy, but our industry needs adequate time to install clean coal technologies to comply with new regulations. Unfortunately, EPA doesn’t seem to care.”
Thursday the EPA announced that they have finalized additional Clean Air Act provisions, collectively known as “The Cross-State Air Pollution Rule” to ostensibly “reduce air pollution and attain clean air standards,” by requiring coal companies in 27 states to slash emissions of sulfur dioxide and nitrogen dioxide by 73 percent and 54 percent, respectively, from 2005 levels by 2014.
An analysis ACCCE released earlier this month by the National Economic Research Associates (NERA) used government data to examine the combined impacts of today’s rule and another EPA electricity regulation, the “Utility MACT” Rule. According to NERA’s examination, the EPA’s actions would cause a net job loss of over 1.4 million job-years by 2020.
Further, NERA found that electricity rates would increase over 23 percent in coal-reliant areas and that though the EPA might claim the regulations will create jobs, NERA predicted that for every job created four will be lost.
Read full Daily Caller article here.