Despite the negative impact of his climate change agenda on jobs and the economy, President Obama is determined to effectively end the use of coal in America through draconian regulations issued by the Environmental Protection Agency.
On the same day a study finds Obama’s regulation of the coal industry will slam the economy and punish families, the president promised to veto the Electricity Security and Affordability Act (H.R.3826) – a bill that would block EPA’s regulation of greenhouse gases if it passed Congress.
Writing for The Daily Caller, Michael Bastasch reports on The Heritage Foundation’s study, “EPA’s Climate Regulations Will Harm American Manufacturing,” that analyzed the impact of the agency’s proposed greenhouse gas rule on manufacturing jobs.
Over the next two decades, the EPA’s rules to fight global warming will cost the economy $2.23 trillion, raise energy prices and lower families’ incomes.
Using economic models based on the federal government’s National Energy Model System, the conservative Heritage Foundation found that, by the end of 2023, EPA climate regulations will cost the U.S. nearly 600,000 jobs and reduce a family of four’s income by $1,200.
EPA rules would also raise energy prices and cost the economy $2.23 trillion from 2015 to 2038.
Obama’s preemptive strike against the bill even before it was voted on was expressed in a Statement of Administration Policy from the Office of Management and Budget:
As part of his Climate Action Plan, the President directed the Environmental Protection Agency (EPA) to work with States, utilities, and other stakeholders to develop standards to end the limitless dumping of carbon pollution from power plants. H.R.3826 would block those important efforts, threatening the health and safety of Americans.
Keep in mind, this is not about the environment but about Obama’s plan to fundamentally transform America. According to the EPA, reducing carbon dioxide emissions from power plants will not result in a decline in global temperatures.
Obama’s willingness to regulate power plants while ignoring the economic consequences illustrates his radical and heartless soul. Given the choice, Obama would rather harm the well-being of millions of Americans for his leftist agenda.
Obama wants all economic pain for no climate change gain.