Electricity Rates will Skyrocket Due to Obama’s Carbon Rules

By Published on August 4, 2015

In January 2008 when he was running for President, then-Senator Obama, said, “[E]lectricity rates would necessarily skyrocket — [W]hatever the plants were, whatever the industry was, they would have to retrofit their operations. That will cost money. They will pass that money onto consumers.”

Unfortunately for every American who uses electricity, President Obama is keeping this promise.

After failing to get legislation passed through a Congress controlled entirely by his own party, President Obama turned to EPA to impose carbon regulations. Based on some creative reading of the Clean Air Act, it came up with the Clean Power Plan.

The final version calls for a 32% cut in carbon emissions from power plants by 2030. This is more drastic than the 30% cuts found in the draft released in 2014.

Under the plan, EPA will set carbon emissions goals for each state. By 2018 states must submit plans on how each will cut carbon emissions to EPA and meet their first targets by 2022. Should states refuse to submit plans — Indiana’s Mike Pence and Oklahoma’s Mary Fallin have announced their state won’t — or miss the deadline, EPA will impose a plan on them.

What should we expect from EPA’s power grab? To get a sense, look at California, the Northeast, and Germany.

Read the article “Electricity Rates will Skyrocket Due to Obama’s Carbon Rules” on uschamber.com.

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