In 2008, Barack Obama explained his energy policy like this: “Under my plan of a cap and-trade system, electricity rates would necessarily skyrocket…”
The day after the 2010 election, Obama said: “Cap and trade was just one way of skinning the cat; it was not the only way. It was a means, not an end.”
The Obama administration is now apparently pursuing the same end of bankrupting coal and causing electricity prices to skyrocket via regulatory means, and Utility MACT (which the EPA’s own low-ball estimate indicates will cost over $10 billion per year) is a key element of that effort.
CNN recently reported that over 90 percent of utility industry executives believe the costs of Utility MACT and related regulations will be passed on to retail customers, and more than half predict the price increases will be significant.