During a 2010 interview with Rolling Stone, President Obama promised to make climate and energy:
“one of my top priorities next year,” but that “we may end up having to do it in chunks, as opposed to some sort of comprehensive legislation.”
President Obama is keeping his promise.
Since cap-and-trade, a tax on fossil fuels – coal, oil and natural gas – failed in the Senate, Obama has unleashed the Environmental Protection Agency (EPA) to finish the job.
New EPA regulations will have devastating economic consequences on our slow economy, for example, more job losses in an environment with 9.2 percent unemployment and higher energy prices.
According to the National Center for Public Policy Research’s press release:
In June, anticipating EPA’s new requirements, AEP – an Ohio based utility – announced it was closing five power plants and scaling back operations at six additional facilities. AEP estimated that its actions will cost about 600 jobs that generated approximately $40 million in annual wages. AEP also noted the compliance costs will result in an abrupt increase in electricity prices.
Caroline May of The DC Caller reports:
The coal industry is crying foul over new Environmental Protection Agency (EPA) regulations which they say will be among the most be costly rules ever imposed by the agency on coal-fueled power plants.
The result, industry insiders say: substantially higher electricity rates and massive job loss.
Obama’s war on fossil fuels is a war against hardworking American families.
It’s tragic that the president is siding with the desires of the social and environmental elite over the needs of families who can least afford to pay higher energy prices.
Ironically, Obama is responsible for waging environmental class warfare against low- and fixed- income families while his fellow elites remain unaffected.