One year ago today, President Obama officially announced his Climate Action Plan, a costly, overreaching and unilaterally implemented executive agenda that will wreak havoc on the American economy. To commemorate the anniversary, we’re delivering festive cupcakes to President Obama. But these cupcakes aren’t celebratory; instead, they have a sobering message—#AllPainNoGain—to demonstrate the plan’s costly consequences, with no payoff.
On today’s one-year anniversary, it’s become crystal clear that the costs of the president’s Climate Action Plan far outweigh any benefits the administration claims. The major outcome from these overreaching regulations out of the Environmental Protection Agency (EPA) will unfortunately come in the form of higher utility bills for communities and businesses. And the fact of the matter is that incomes are shrinking in America today, while energy costs are rising. We are already starting to see tangible rate increases that could be a preview of what’s to come.
These frightening real-life examples of cost increases help demonstrate why President Obama and EPA’s regulations for coal-based power plants are #AllPainNoGain. Now that a year has passed since President Obama’s Climate Action Plan roll-out, we are able to see that the administration’s measures carry huge cost for little to no environmental benefit.
In fact, President Obama’s newest regulations are predicted to cost consumers as much as $8.8 billion a year through 2030, while reducing global greenhouse gas emissions by a mere four percent—equivalent to decreasing sea level rise by less than the thickness of three sheets of paper—over 100 years.
You’d think we would have learned from the dramatic price swings that occurred this past winter from coast to coast, during which natural gas prices spiked and wholesale energy prices increased. Instead of crossing our fingers and hoping thermometers don’t dip below zero or above ninety, we should maintain fuel diversity and prioritize the use of affordable, stable and domestic energy resources like coal.
Over the course of this week, we’ll be highlighting how regulations rolled out over the past year have resulted in more hurt than help for American communities, and how the climate action plan has truly proven to be #AllPainNoGain.