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Wednesday, August 5, 2015

Economist: EPA Clean Power Plan Could Cost $2.5 Trillion in Lost Economic Growth

From The Daily Signal:
The Obama administration unveiled its climate change regulations for new and existing power plants, calling the plan “the biggest, most important step we’ve ever taken to combat climate change.” 
It may be the most “important” from a top-down, regulatory mandate for high energy prices, but it won’t accomplish much, if anything, in terms of combating climate change. 
Even though electricity generation accounts for the single largest source of carbon dioxide emissions in the United States, the estimated reduction is minuscule compared to global greenhouse gas emissions. 
Climatologists estimate that the administration’s climate regulations will avert less than two hundredths of a degree Celsius by 2100. 
In fact, all the plan will do is bring about higher energy bills, lost income, fewer jobs and a weaker economy – with little to no impact on the Earth’s temperature.
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