The biggest result won’t be a stemming of alleged man made global warming, it will be the rise in unemployment in states such as Ohio and Pennsylvania.
Via Free Enterprise:
The Environmental Protection Agency is close to issuing the first limits to cut U.S. greenhouse gases from power plants, with an announcement possible as soon as today, according to people familiar with the matter.
The rules from President Barack Obama’s administration would set emissions for all power plants at the level established for a natural-gas plant, or about half what is released from a coal-burning facility. Any new coal plants would need expensive carbon-capture equipment, according to the people, who declined to be identified before an announcement.
The proposed nationwide standards would be the first by the EPA for carbon-dioxide from power plants, the largest source of those emissions in the U.S. Environmental groups such as the Sierra Club are pressing the Obama administration to issue tight standards to head off an increase in global warming that they warn could be catastrophic.“It will make it nearly impossible to build a new coal plant,” Michael Brune, executive director of the Sierra Club, said in an interview. “The market has been moving in this direction already” so the rule “captures the end of an era.”
This comes as no surprise to anybody who paid attention to the President’s intentions prior to his election, in which he promised to bankrupt the coal industry.
Obama, January 2008: “So, if somebody wants to build a coal plant, they can — it’s just that it will bankrupt them, because they are going to be charged a huge sum for all that greenhouse gas that’s being emitted.”
When Obama talks of having a laser focus on the economy, what he means is having a laser focus on putting ideology above economy.
Earlier this month, Sean Hackbarth reported on the effects that the administration’s extreme environmental agenda is having, with the announcement of more plany closings:
Yesterday, GenOn Energy, the third-largest U.S. independent power producer, announced they were shutting down power plants, because “forecasted returns on investments necessary to comply with environmental regulations are insufficient.” That’s financial-speak for “Regulations make it too costly to keep them running.”
Shutdowns will begin in June at the units, which don’t generate enough profit to cover the costs of complying with the rules, Houston-based GenOn said today in a statement. The plants, located at eight sites in Pennsylvania, Ohio and New Jersey, generate 3,140 megawatts in the wholesale market overseen by PJM Interconnection. Except for one unit, all of the plants burn coal, according to GenOn’s website.
Jeff Ostermayer at Shopfloor.org reminds us that “These closings will again result in the loss of jobs and have a negative impact on the local communities. Often we forget about the ripple effect of these regulations and how it can impact a small town and community.”
Read the rest here…