Obama’s Climate Change Plan Is Going To Hit You Hard In The Wallet

If you think it’s tough making ends meet now, just wait until President Obama implements the climate action plan he laid out in his speech yesterday. Oddly enough, he didn’t mention anything about growing the economy or bringing down the unemployment rate. Those aren’t his priorities.

Mr. Obama’s “climate action plan” adds up to one of the most extensive reorganizations of the U.S. economy since the 1930s, imposed through administrative fiat and raw executive power. He wants to reduce greenhouse gas emissions by 17% by 2020, but over his 6,500-word address he articulated no such goal for the unemployment rate or GDP.

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The plan covers everything from new efficiency standards for home appliances to new fuel mileage rules for heavy-duty trucks to new subsidies for wind farms, but the most consequential changes would slam the U.S. electric industry. These plants, coal-fired power in particular, account for about a third of domestic greenhouse gases.

It gets worse. His plan will cost thousands of jobs.

In general every $1 billion spent complying with an EPA rule threatens 16,000 jobs and cuts GDP by $1.2 billion—and the agency is now writing scores of multibillion-dollar rules. Keep in mind that last month the Administration quietly raised the “social cost” of carbon by 60% in a regulatory filing related to microwave ovens. That means the EPA can jack up costs by 59.99% and still justify them by claiming the higher benefits.

This regressive burden won’t merely be borne by average American consumers and utility rate-payers—especially in the Midwest and Southern regions that use the most coal. This also threatens one of the few booming parts of the economy, the energy revolution driven by shale gas and unconventional oil. The return of manufacturing to the U.S. depends on this cheap abundant energy, and it could as easily re-relocate overseas as the U.S. becomes less competitive.

For good measure, Mr. Obama also declared that he will approve the Keystone XL pipeline “only if this project does not significantly exacerbate the problem of carbon pollution.” Yet the oil in Alberta won’t stay in the ground if Mr. Obama blocks the route to the Gulf of Mexico. It will be shipped by rail and boat to China and elsewhere. The only question is whether America will benefit from this shovel-ready project that will create tens of thousands of jobs. (Read More)

Even if you don’t have a job that will be effected, these policies are still going to cost you dearly. It’s going to drive up the cost of just about everything.

Whether it’s regulating appliances or eliminating coal from the nation’s energy diet, Obama’s plan has the same effect: hiking the cost of living.

Think through your day. Everything you buy, everything you eat, everything you wear… it was all produced using energy. Just a few of the things that will be more expensive under Obama’s plan:

  • Heating and cooling your home
  • Buying a car and driving—from your work commute to soccer practice and everywhere in between
  • Turning on the lights
  • Washing and drying clothes

But that’s not all. Think even bigger. What will it mean for President Obama’s war on coal tohike natural gas prices by 42 percent?  ….

From food processing to waste treatment—the entire cycle of life will cost more!

Of course, it doesn’t help that you will also have less income. Forthcoming research from these Heritage experts shows that Obama’s anti-coal policies will cause a family of four to lose more than $1,000 in annual income. (Read More)

All of this for what?

But let’s pretend we were able to stop emitting all carbon immediately. Forget the electricity to cool our homes in the summer months. Shut down the power plants. Stop driving our cars. No talking. The Science and Public Policy Institute found that the global temperature would decrease by 0.17 degrees Celsius—by 2100. These regulations are all pain no gain.

Even if you believe that carbon emissions cause global warming, is a decrease of 0.17 degrees Celsius worth the destruction of the economy?

Here’s a better idea:

At the same time as Sen. Bob Corker, R-Tenn., wants to spend $38 billion to hire 20,000 more border agents and build a fence on the Mexican border, President Obama on Tuesday proposed to use his executive powers to override Congress and write stricter environmental rules.

Why not combine the two projects, and build a fence of solar panels along the border? That would generate renewable energy for Obama, and ensure the safety of the border.

The land boundary between America and Mexico is 1,914 miles. The total cost of building a 15-foot fence and installing solar panels would be about $12 billion. And it could face south, towards the sun.

This would make more sense than Obama’s green initiatives.

In a video posted on the White House website over the weekend, Obama once more made the case for ethanol, electric cars, windmills, and solar panels.

No matter that by some measures global temperatures have not risen for the past 15 years. (Read More)

That sounds better than any of the ideas coming out of Washington, DC.