Higher Energy Costs Will Lower Disposable Income by $1.8 Billion

earth stratosphereOn Monday, the federal Environmental Protection Agency finalized a new set of rules – known as the Clean Power Plan – that would aim to cut carbon emissions by 32 percent over the next 15 years.

The new rules are part of President Obama’s effort to combat global warming, but are only anticipated to reduce global temperatures by .018 degrees by the year 2100.

According to a joint report by The John K. MacIver Institute for Public Policy and The Beacon Hill

Institute at Suffolk University, these new rules will have a devastating impact on Wisconsin’s economy.

The original Clean Power Plan proposal would cost Wisconsin $920 million in 2030 and increase electricity prices by 19 percent. Wisconsin would also lose 20,995 jobs from these higher energy costs, leading to $1.82 billion less disposable income and $236 million less investment in the state.

Brett Healy, president of the MacIver Institute, released the following statement after the new rules were announced:

“Wisconsin’s economy cannot afford another mandate from the federal government that only serves to hamper our economy. The state relies heavily on coal for electricity – 62 percent is generated by coal power plants – and these new regulations will cause plants to either close or pay for costly updates. Both would make energy prices necessarily skyrocket.

“According to our study, Wisconsin’s electricity prices would jump 19 percent under the original proposal that called for a 30 percent reduction in carbon emissions. With that number up to 32 percent in the final plan, prices will likely climb even higher.

“The EPA needs to listen to the citizens of Wisconsin and the rest of the country. These regulations are a hindrance to the economy and should not be forced down our throats.”

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    GR82DRV

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    I live in Wisconsin.

    [i]”The original Clean Power Plan proposal would cost Wisconsin $920 million in 2030 and increase electricity prices by 19 percent. Wisconsin would also lose 20,995 jobs from these higher energy costs, leading to $1.82 billion less disposable income and $236 million less investment in the state.”[/i]

    Many people here, especially Obama supporters, believe that none of this could be remotely true… They believe there is no way that anyone would let something like this to happen, so this [i]must[/i] simply be political rhetoric.

    More people, especially here, need to read Obama’s book, look into Obama’s past record of public statements, and examine the people with whom he keeps company.

    This is EXACTLY the result he wants! He believes that we must de-industrialize America and redistribute our wealth to the control of collectivist United Nations/IPCC social funds. If he can make a state led by a person like Scott Walker be the first to feel the burn, so much the better.

    As recently discussed here, Obama is clearly setting himself up to be a wealthy climate industry power broker when he leaves office. Undoubtedly much of his desired redistribution of wealth will find its way into his own bank accounts.

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    Amber

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    Is Obama/ EPA banning the export of coal that would otherwise have been used to create jobs in the USA ?

    Why would they take action that will contribute to higher emissions of CO2 when that coal is exported and undermine jobs in the USA .

    USA energy consumers will pay much higher rates , as the President announced years ago .
    This short sighted policy was adopted in parts of Europe. It leads to fuel poverty and people dying from hypothermia . The foolish policies are now being unraveled.

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