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Today Obama’s EPA boss Gina McCarthy officially announced the administration’s road map for killing the coal industry. And it’s not just the coal industry that will be hurt, this policy will have ripple effects through the economy and will worsen our standard of living.
IBD summed it up for you:
The administration finally has released its rules for curbing CO2 emissions from U.S. power plants. Far from being a plan to clean up the environment, it is in fact a road map to de-industrialization and poverty. …
Far from being an economically sensible plan to reduce U.S. pollution, this proposal will sharply raise the cost of energy to all Americans, while doing little to improve our environment.
Last year, the Institute for Energy Research estimated that the administration’s “regulatory assault” on power plants would eliminate 35 gigawatts of electrical generating capacity — or 10% of all U.S. power.
The new EPA rules will make that even worse. If you wonder why Obama has the worst jobs record of any president in modern history, look no further.
Read the whole thing. McCarthy even admitted that the current rules to reduce greenhouse gas emissions haven’t done anything to halt global warming. (Not that we even need to worry about global warming.)
Even worse, carbon capture technology, which is the cornerstone of these new rules, is nowhere near ready for prime time. In Norway they just announced that they’re scrapping a big carbon capture project because is isn’t feasible.
Update: The EPA announcement made for an uncomfortable day for Terry McCauliffe, who wants to be the next governor of Virginia. I doubt the voters in Virginia’s coal country are going to think too highly of what the Democrats are doing to their livelihood.class="plus-one-wrap">