The Leader Board
Jun 20 2012
The Controversial EPA Regulation Would Create 'A Ripple Effect Through The American Economy'
ECONOMISTS: 'Loss In Income Equivalent To 180,000 Full-Time Jobs'
"…would result in dramatic and irreversible changes to the nation's electric sector leading to higher electricity costs, killing jobs and creating a ripple effect through the American economy." (CNN News, 6/14/12)
ECONOMISTS: "Overall macroeconomic impacts… a loss in income equivalent to 180,000 full-time jobs… while the largest job losses are in 2015, there are continuing job losses over time as the economy shrinks due to higher energy costs." ("An Economic Impact Analysis Of EPA's Mercury And Air Toxics Standards Rule," NERA Economic Consulting, P.4, 3/1/12)
- EPA: "Costs and Employment Impacts: The projected annual incremental private costs of the final MATS Rule to the electric power industry are $9.6 billion in 2015." ("Regulatory Impact Analysis For The Final Mercury And Air Toxics Standards," EPA, ES-14, 12/11)
KENTUCKY: Jobs of '350 miners' at risk. "Chris Lacy, an executive at Licking River Resources, a Kentucky mine that supplies Big Sandy with about 700,000 tons a year of coal, had already predicted he would have to lay off some of his company's 350 miners if the plant closed." ("A.E.P. Backs Down On Coal Plant Retrofit," The New York Times' "Green" Blog, 5/30/12)
'Electricity Prices Are Projected To Increase'
"Table ES-1 summarizes the potential costs for the electricity sector… Average U.S. retail electricity prices are projected to increase by an average of 6.5 percent over the period [2012-2020]." ("Potential Impacts Of EPA Air, Coal Combustion Residuals, And Cooling Water Regulations," NERA Economic Consulting, E-3-4, 9/11)
- Tennessee & Kentucky electricity prices could increase nearly 19%. "Regional Electricity Retail Price Impact, 2012-2020 (Percentage Changes)… KY & TN: 2016: 18.6%" ("Potential Impacts Of EPA Air, Coal Combustion Residuals, And Cooling Water Regulations," NERA Economic Consulting, C-15, 9/11)
PRESIDENT OBAMA: "Under my plan of a cap and trade system electricity rates would necessarily skyrocket, even, you know, regardless of what I say about whether coal is good or bad, because I'm capping greenhouse gases, coal powered plants, you know, natural gas, you name it, whatever the plants were, whatever the industry was, they would have to retrofit their operations. That will cost money. They will pass that money on to consumers." (Barack Obama, Interview With The San Francisco Chronicle, 1/17/08)
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