July 25, 2013
By Nicolas Loris
President Obama’s climate plan would have a chilling effect on the economy, not the environment.
If the Environmental Protection Agency moves forward on greenhouse gas regulations for new and existing power plants, which would particularly impact coal, it will cost more to heat and cool your home, to cook your meals, to light your home.
Phasing out coal, electricity prices would increase 20 percent and cause a family of four to lose more than $1,000 in annual income. Higher energy prices would ripple through the economy. Consumers would have less money to spend. Businesses would face higher operating costs and pass those costs on to the consumer.
As the economy is squeezed from both ends, Heritage found that significantly reducing coal as a source of energy would destroy more than 500,000 jobs by 2030. All of this economic pain would come with no real impact on the climate.
Even if the U.S. stopped emitting all carbon dioxide today (virtually halting all economic activity), the Science and Public Policy Institute found that the global temperature would decrease by 0.17 degrees Celsius by 2100.
The president is right to say that we can have economic growth and an improved environment. But this isn’t the plan to do it.
- Nick Loris is senior policy analyst at Roe Institute for Economic Policy Studies at The Heritage Foundation.
First appeared in Yale Environment 360
Herbert and Joyce Morgan Fellow
Read More >>
Request an interview >>
Please complete the following form to request an interview with a Heritage expert.
Please note that all fields must be completed.
Heritage's daily Morning Bell e-mail keeps you updated on the ongoing policy battles in Washington and around the country.
The subscription is free and delivers you the latest conservative policy perspectives on the news each weekday--straight from Heritage experts.
The Morning Bell is your daily wake-up call offering a fresh, conservative analysis of the news.
More than 450,000 Americans rely on Heritage's Morning Bell to stay up to date on the policy battles that affect them.
Rush Limbaugh says "The Heritage Foundation's Morning Bell is just terrific!"
Rep. Peter Roskam (R-IL) says it's "a great way to start the day for any conservative who wants to get America back on track."
Sign up to start your free subscription today!
The Heritage Foundation is the nation’s most broadly supported public policy research institute, with hundreds of thousands of individual, foundation and corporate donors. Heritage, founded in February 1973, has a staff of 275 and an annual expense budget of $82.4 million.
Our mission is to formulate and promote conservative public policies based on the principles of free enterprise, limited government, individual freedom, traditional American values, and a strong national defense. Read More
© 2015, The Heritage Foundation Conservative policy research since 1973