Not to mention the double digit increase in electricity costs he will cause….
President Obama and his administration are embroiled in an all-out war on fossil fuels. Under the guise of saving the planet from global warming, the administration has issued rampant regulations trying to further reduce CO2 emissions under the so-called Clean Power Plan. Not only have these regulations been shown as ineffective at actually impacting global temperatures or sea levels, it turns out that the rules will have serious economic impacts on all Americans, especially low-income and minority families.
A study by the American Coalition for Clean Coal Electricity (ACCCE) found the president’s climate agenda would only reduce CO2 concentration by less than one-half of a percent; reduce the average global temperature by less than 2/100th of a degree; and reduce the rise of sea levels by 1/100th of an inch – or the thickness of three sheets of paper. These paltry numbers make the president’s agenda seem downright reckless in light of the $479 billion price tag that it comes with.
It gets worse. Under the Clean Power Plan, electricity prices will steadily increase – by double digits in the majority of states, and over the course of the next decade, tens of thousands of Americans will lose access to well-paying jobs that will be shipped overseas to places like China with less stringent environmental standards.
According to expert witness testimony submitted to the Senate Environment and Public Works (EPW) Committee, almost 59 million American households have pre-tax annual incomes of $50,000 or less. After taxes, these families take home about $22,732 – or less than $1,900 a month. These families devote 17 percent of their after-tax income to energy costs. Imagine if these families suddenly saw their energy bills rise, let alone double. The math is overwhelming. Americans simply cannot afford the administration’s war on fossil fuels.