Obama: My Plan Makes Electricity Rates Skyrocket – Barack Obama: “Under my plan of a cap and trade system, electricity rates would necessarily skyrocket.” (That video is from January 2008)
Now we have those news stories in May and June 2011 ….
Two new EPA pollution regulations will slam the coal industry so hard that hundreds of thousands of jobs will be lost, and electric rates will skyrocket 11 percent to over 23 percent, according to a new study based on government data.
Overall, the rules aimed at making the air cleaner could cost the coal-fired power plant industry $180 billion, warns a trade group.
“Many of these severe impacts would hit families living in states already facing serious economic challenges,” said Steve Miller, president of the American Coalition for Clean Coal Electricity. “Because of these impacts, EPA should make major changes to the proposed regulations before they are finalized,” he said.
The EPA, however, tells Whispers that the hit the industry will suffer is worth the health benefits. “EPA has taken a number of sensible steps to protect public health, while alsoworking with industry and other stakeholders to ensure that these important Clean Air Act standards—such as the first ever national Mercury and Air Toxics Standards for coal-fired power plants—are reasonable, common-sense, and achievable,” said spokesman Brendan Gilfillan. [Read Rep. Darrell Issa: Obama's Bad Policy, Harmful Regulations Add to Gas Prices.]
What’s more, officials said that just one of the rules to cut sulfur dioxide and nitrogen oxide emissions will would yield up to $290 billion in annual health and welfare benefits in 2014. They say that amounts to preventing up to 36,000 premature deaths, 26,000 hospital and emergency room visits, and 240,000 cases of aggravated asthma. “This far outweighs the estimated annual costs,” says an official on background.
You see they are doing it for our own good….Right?
We may not have jobs but we will live longer (presumably)
Never mind that on the other side of the globe, China is using 3 times more coal than America.
What is EPA going to do about that? How are they going to prevent Chinese pollution in the air from entering through the American borders?
Answer that EPA!
The report says China’s consumption rose by 11.2 percent last year compared with 3.7 percent in the United States. China’s surge led a 5.6 percent increase in global energy demand, the biggest one-year jump since 1973.
China was by far the world’s largest consumer of coal, taking 48 percent
The Department of Agriculture (USDA)announced that it has awarded $17.4 million for pilot projects that will begin exploring how to establish a market for greenhouse gas (GHG) credits, a key component of a cap and trade system, to help reduce carbon and other emissions that apparently contribute to global warming.
In a cap and trade system, farmers, ranchers, and other agriculture producers theoretically stand to make money by selling credits to other, GHG-intense businesses such as manufacturers and power companies.
The Agriculture Department was getting involved in the establishment of carbon markets, which currently exist only in states like California and the Northeast, was to better integrate the federal government into regional cap and trade systems, so that the government has a better understanding of how GHG offset markets function.
But in reality what is happening in Europe that instituted the cap and trade? Millions of pollution permits in Europe’s emissions trading scheme do very little for the environment….Here is a story from January 2011
European emitters of greenhouse gases, mostly power companies, find it easier to buy in carbon credits from China and India to meet their targets than to cut the emissions of their own operations.
So who loses out? The environment, of course. Instead of the money going to schemes that genuinely tackle emissions and slow global warming, it pays for a scheme in which there is a massive incentive for industrial plants to keep producing the gases they are then paid handsomely to destroy.
What we are doing in America with the coal industry can be compared with what European Union is doing with their Airline industry…. Committing economic suicide
With the European Union’s emissions trading scheme (ETS) set to affect airlines next year, Lufthansa CEO Christoph Franz has warned the cap-and-trade plan will put Europe’s airlines at a competitive disadvantage.
Those additional costs couldn’t completely be passed on to customers because of intense fare competition in the sector, Franz explained. Chinese officials told him during a trip to the country this month they would consider imposing fees on European flights to counter the costs of ETS credits, he added.
Karin Holm-Müller, an environmental economist at the University of Bonn and a member of the German government’s advisory board on environmental policy, said airlines aren’t the first industry branch to fear cap-and-trade arrangements will dull their competitive edge.
“Considerations have been made to some degree about whether individual industries are too affected in competition [by cap-and-trade system],” she told Deutsche Welle. “One could consider how significantly air travel is affected… but in principle air travel should be included in the cap-and-trade system because it offers an additional opportunity to reduce greenhouse gas emissions.”
According to Michel Adam, environment manager for the Association of European Airlines (AEA) in Brussels, airlines from other continents are only affected when they touch down in Europe under the ETS plan.
“If you travel from North America to Asia and your journey includes a stopover at an EU airport, then the whole journey will be covered by the ETS and will have to include its price,” Adam said. “So flying via Dubai or North Africa would be cheaper than flying through the EU.”