Obama’s New Energy Plan Could Cost $2.5 Trillion in Lost Economic Growth

The Obama administration unveiled its climate change regulations

for new and existing power plants, calling the plan “the biggest, most important step we’ve ever taken to combat climate change.”

It may be the most “important” from a top-down, regulatory mandate for high energy prices, but it won’t accomplish much, if anything, in terms of combating climate change.

Even though electricity generation accounts for the single largest source of carbon dioxide emissions in the United States, the estimated reduction is minuscule compared to global greenhouse gas emissions.

Climatologists estimate that the administration’s climate regulations will avert less than two hundredths of a degree Celsius by 2100.

In fact, all the plan will do is bring about higher energy bills, lost income, fewer jobs and a weaker economy – with little to no impact on the Earth’s temperature.

The role of the federal government should be not to promote or restrict any energy source or technology, but instead to enforce free-market policies that generate innovation and provide competitive prices.

In fact, the federal government has done much more to restrict the development of these energy sources than promote them, with Obama’s climate regulations being the latest blow.

Coal currently provides approximately 40 percent of America’s electricityas an affordable, reliable source.

Obama is upping the ante on existing power plants, forcing power plants, on average, to...Read More HERE