The Many Problems of the EPA's Clean Power Plan and Climate Regulations
July 21, 2015
This summer, the Obama Administration will finalize climate regulations for new and existing power plants under the Clean Air Act. While the regulations largely target coal-fired power plants, the costs of more expensive energy will be borne by all Americans, says Nicolas Loris of the Heritage Foundation.
By 2030, the costs would be:
- An average annual employment shortfall of nearly 300,000 jobs;
- A peak employment shortfall of more than 1 million jobs;
- A loss of more than $2.5 trillion (inflation-adjusted) in aggregate gross domestic product (GDP)
- A total income loss of more than $7,000 (inflation-adjusted) per person.
Congress must reassert its power to fight against this economically disastrous act by:
- Approving resolutions of disapproval (under the Congressional Review Act) of the EPA's greenhouse gas rules for power plants.
- Clarifying in statute that the Clean Air Act does not apply to the regulation of greenhouse gas emissions or other climate-related rulemaking.
- Preventing the EPA and all other federal agencies from regulating greenhouse gas emissions, including prohibiting funding from being used for implementation.
- Forcing the EPA to withdraw its endangerment finding on greenhouse gas emissions, recognizing that greenhouse gas emissions are affecting the climate but that no credible evidence exists to suggest that the earth is heading toward catastrophic warming or that climate regulations will affect global temperatures.
President Obama's climate plan would have a chilling effect on the economy, not the climate. As the EPA finalizes regulations for new and existing power plants, the restriction of opportunities for Americans to use such an abundant, affordable energy source will only bring economic pain to households and businesses, with no environmental benefit to show for it. Lawmakers and state officials should exercise leadership and reclaim their authority from the unelected bureaucrats whose regulatory ambitions threaten economic growth and individual prosperity.
Source: Nicolas Loris, "The Many Problems of the EPA's Clean Power Plan and Climate Regulations," Heritage Foundation, July 7, 2015.
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