Cheap energy, at one time, was part of our competitive advantage in manufacturing. Obama promised to make energy prices go up. He definitely kept that promise.
President Obama Admits: EPA Coal Ash Rule Among Costliest Regulations08/31/11
President Obama Admits: EPA Coal Ash Rule Among Costliest Regulations
McKinley bill will save economy billions, protect jobs
Washington, D.C. – In a response letter from President Obama to Speaker of the House John Boehner, the president acknowledged that his EPA’s proposal to regulate coal ash as a hazardous material is one of the seven most costly regulations his entire administration has proposed. According to a June 2011 Veritas economic report the president’s estimate that the coal ash rule would cost the economy up to $1.5 billion annually is grossly underestimated. The report stated that the EPA’s hazardous designation would cost up to $110 billion over 20 years with estimated job losses ranging from 184,000 to 316,000.
“President Obama admits there is a great cost to Americans because of the EPA’s proposed regulation on coal ash,” McKinley said. “While his estimates are dramatically low, he agrees with those of us who has said this is one of the costliest proposed regulations by the EPA. The question comes down to this: will the president finally make the economy a priority by supporting this jobs bill, or will he forge ahead down a path that even he now acknowledges will cost the economy dearly?”
Rep. David B. McKinley, P.E. (R-WV) introduced legislation that would prevent hundreds of dollars in increased electricity costs, stop hundreds of thousands of job losses, and strengthen and protect public health by blocking the EPA’s proposal and instead establish a state-based regulatory framework for coal ash. The bill would tighten the disposal and the management of coal ash and give states the control of the program as well as the ability to work with the EPA to ensure it is handled, stored and monitored properly. This legislation was passed through the full Energy and Commerce committee 35-12, with one-third of the committee’s Democrats crossing over to support it.
Majority Leader Eric Cantor announced Monday that McKinley’s legislation will receive a vote in the full House of Representatives this fall.