The Environmental Protection Agency (EPA) recently proposed new greenhouse gas (GHG) regulations that will fundamentally alter the backbone of our economy by mandating dramatic changes to our nation’s electricity system.
EPA’s proposal will be a wholesale transformation of how electricity is generated, transmitted, distributed and used — ultimately limiting the sources of energy available to power American homes and businesses. The magnitude and reach of this EPA proposal is unprecedented. It will impact nearly every sector of the American economy, causing job losses, increased electricity costs and a reduction in the reliability of the electric grid.
- By EPA’s own estimates, this single regulation will increase nationwide electricity costs by 6-7% and up to 12% in some locations. Can your family afford to pay more?
- Rising electricity costs will place America’s job creators at a disadvantage with foreign competitors, forcing more businesses and jobs to move overseas.
- The regulations will decrease reliability in our energy supply and increase the potential for blackouts at times Americans rely on electricity the most.
The regulations will impose billions in costs on the U.S. economy and threaten thousands of jobs. And for what? Upon full implementation in 2030, global carbon emissions will only be reduced by a mere 1.3% — the equivalent of just 13.5 days of emissions from China.
The Wall Street Journal was spot on when it declared EPA’s rule a “huge indirect tax and wealth redistribution scheme that the EPA is imposing by fiat [that] will profoundly touch every American.” The paper further noted that “it is impossible to raise the price of carbon energy without also raising costs across the economy. The costs will ultimately flow to consumers and businesses.“