Kerpen on FoxNews: Electric rates will soar now that Obama's EPA has crushed coal-fired power plants
This rule will effectively block any new coal-fired power plants from being built in America, and a second round of related rules – expected after the election, of course – will shut down existing coal-fired power plants.
The result will be steeply higher electricity prices, lost jobs, and lower standards of living. Remarkably, this is all done in the name of global warming, but even EPA Administrator Lisa Jackson admits it will have no discernible impact on global temperatures. Obama’s EPA is crippling the U.S. economy not to accomplish anything, but just to enjoy a nice, warm, green feeling of self-satisfaction.
Four years ago, then-candidate Barack Obama explained his anti-coal energy policy in an editorial board meeting with the San Francisco Chronicle. Obama said: “Under my plan of a cap-and-trade system, electricity rates would necessarily skyrocket. Even regardless of what I say about whether coal is good or bad.” He went on to explain: “So, if somebody wants to build a coal plant, they can — it’s just that it will bankrupt them.”
Indeed Obama attempted to make good on his campaign promise to bankrupt the coal industry and make electricity prices skyrocket the legitimate way – by proposing cap-and-trade legislation in Congress. It was jammed through the House but crashed and burned in the Senate, where many Democrats understood such an energy rationing plan to be political suicide.
They were right.