Obama’s EPA Regulations Will Cost Coal Industry $200 Billion & Electricity Rates to Skyrocket
GatewayPundit ^ | 6/8/11 | Jim Hoft
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In January 2008 Barack Obama told the San Francisco Chronicle:
“Under my plan of a cap and trade system electricity rates would necessarily skyrocket. Businesses would have to retrofit their operations. That will cost money. They will pass that cost onto consumers.”
He promised that his plan would cause electricity rates to skyrocket. He wasn’t kidding.
In January, 2011 the Obama Administration, for the first time ever, blocked an already approved bid to build one of the largest mountaintop removal coal mines in Appalachian history.
And, today it was reported that Obama’s energy plans will cause electricity rates to necessarily skyrocket Just as he promised.
Via US News and World Reports:
Two new EPA pollution regulations will slam the coal industry so hard that hundreds of thousands of jobs will be lost, and electric rates will skyrocket 11 percent to over 23 percent, according to a new study based on government data.
Overall, the rules aimed at making the air cleaner could cost the coal-fired power plant industry $180 billion, warns a trade group.
“Many of these severe impacts would hit families living in states already facing serious economic challenges,” said Steve Miller, president of the American Coalition for Clean Coal Electricity. “Because of these impacts, EPA should make major changes to the proposed regulations before they are finalized,” he said.
The EPA, however, tells Whispers that the hit the industry will suffer is worth the health benefits.
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Is this what you pieces of trash voted for?
