Barack Obama continues his war on cheap American energy.
In January 2008 Barack Obama told the San Francisco Chronicle:
“Under my plan of a cap and trade system electricity rates would necessarily skyrocket. Businesses would have to retrofit their operations. That will cost money. They will pass that cost onto consumers.”
He promised that his plan would cause electricity rates to skyrocket.
He wasn’t kidding.
Last year the Obama Administration, for the first time ever, blocked an already approved bid to build one of the largest mountaintop removal coal mines in Appalachian history.
This week the Obama Administration will issue its first limits on greenhouse gas emissions for new power plants.
The Washington Post reported:
The Environmental Protection Agency will issue the first limits on greenhouse gas emissions from new power plants as early as Tuesday, according to several people briefed on the proposal. The move could end the construction of conventional coal-fired facilities in the United States.
The proposed rule — years in the making and approved by the White House after months of review — will require any new power plant to emit no more than 1,000 pounds of carbon dioxide per megawatt of electricity produced. The average U.S. natural gas plant, which emits 800 to 850 pounds of CO2 per megawatt, meets that standard; coal plants emit an average of 1,768 pounds of carbon dioxide per megawatt.
Industry officials and environmentalists said in interviews that the rule, which comes on the heels of tough new requirements that the Obama administration imposed on mercury emissions andcross-state pollution from utilities within the past year, dooms any proposal to build a coal-fired plant that does not have costly carbon controls.
“This standard effectively bans new coal plants,” said Joseph Stanko, who heads government relations at the law firm Hunton and Williams and represents several utility companies. “So I don’t see how that is an ‘all of the above’ energy policy.”
The new rules aimed at making the air cleaner will cost the coal-fired power plant industry $180 billion - with the added cost passed down to the American consumer.