A new study released by the National Association of Manufacturers finds several EPA rules could drive up energy manufacturing costs and eliminate millions of American jobs. The report details the shockingly high costs associated with just six regulations:
The annual compliance costs for all six regulations range from $36 billion to $111.2 billion (by EPA estimates) and from $63.2 billion to $138.2 billion (by industry estimates). The total capital expenditures for all six regulations range from $174.6 billion to $539.3 billion (by EPA estimates) and from $404.5 billion to $884.5 billion (by industry estimates).
National Economic Research Associates recently analyzed seven proposed EPA regulations, projecting that the energy sector will be substantially impacted. Although NERA’s analysis is conservative, the costs are similarly staggering:
Compliance costs for the electric sector total $198 billion to $220 billion and average $15.0 billion/year to $16.7 billion/year. Peak year compliance costs total $36 billion to $44 billion. U.S. employment losses average 544,000/year to 887,000/year. Peak year employment losses are 700,000 to 2.2 million.
Both reports show how the EPA’s regulatory agenda can kill jobs in multiple industries and harm our economy. It’s time that the administration stop considering these destructive regulations and instead put our nation on the path towards greater prosperity and a renewed economy. By keeping electricity prices low for business and families, coal helps to fuel the job creation that we need to get our economy back on track.