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Barack Obama admitted in 2008 that energy prices would “necessarily skyrocket” after his war on coal commenced, but what he didn’t share for obvious political reasons was who would feel the pinch the most. EPA chief Gina McCarthy, still reeking of Animas River pollution, had more details the Dems would rather remain swept under the rug until next year’s election is over:
When speaking about the higher energy prices caused by the administration’s climate regulations on power plants, Environmental Protection Agency Administrator Gina McCarthy said, “We know that low-income minority communities would be hardest hit.”
But low income Americans can rest easy, because just prior to that, McCarthy claimed that because of the new regs the increased energy price “tapers off to incredible savings by 2030″:
NERA Economic Consulting estimates
that U.S. electricity prices
will increase by an average of 12
percent to 17 percent; the Heritage
Energy Model estimates a
loss of $2.5 trillion in GDP and
more than 1 million lost jobs
the Environmental Protection Agency
(EPA) evades all accountability to Americans and
leaves state officials to take the political heat for executing
power plant regulations that are all economic
pain and no environmental gain.
States will have one year to develop and submit
their own compliance plan or develop regional plans
with other states, though the EPA will likely grant
extension waivers. After that, the EPA will take
approximately one year to approve or reject the plan.
The EPA is currently developing a federal “model”
for states to consider and will impose a federal plan
for states that do not comply.
On the other hand, restricting the production
of carbon-emitting conventional fuels with heavyhanded
regulations, such as the Clean Power Plan,
will significantly harm the U.S. economy. Americans
feel the pain of higher energy prices directly,
but also indirectly through almost all of the goods
and services they buy, because energy is a necessary
component of production and service. Companies
will pass higher costs on to consumers or absorb the
costs, which prevents hiring and new investment.
As prices rise, consumer demand falls, and companies
will drop employees, close entirely, or move to
other countries where the cost of doing business is
lower. The result is fewer opportunities for American
workers, lower incomes, less economic growth,
and higher unemployment.
originally posted by: Chrisfishenstein
a reply to: xuenchen
Not to mention how many jobs in coal mines are lost....But who cares about all that, right??
originally posted by: Bluntone22
Can you promise my electric bill will only go up the price of a gallon of milk?
Cuz if you can, sign me up!
If one is lower income, it is not difficult to get HEAP, home energy assistance. The income threshold goes up every year and is generous in that regard. You can own a home and a car and receive it. It pays a good chunk of the winter gas. Not so much for electric, but a little.