5 Most Costly Effects Of Obama’s Latest War On Coal, According To This New Report

The Chamber of Commerce just released a new report outlining the devastating economic effects that President Obama’s and the EPA’s costly carbon regulation proposal would have on American incomes, power plants, jobs, and electricity costs.

The White House needs to be focusing on how to help get Americans back to work, not focusing on developing new big government ways to strangle the economy.

Here are 5 of the most costly effects of President Obama’s carbon regulation proposal:

1. As much as 40% of existing coal plant capacity will be shut down by 2030. 

According to the report, Obama’s plan will rapidly accelerate the retirements of America’s coal power plants, leading to as many as 40% of these plants shutting their doors by 2030. That means lost jobs, and lost electrical capacity.

2. The EPA’s new carbon regulations are going to spike electricity costs for Americans by as much as $17 billion. 

According to the report, under Obama’s plan, Americans can expect to pay much more for electricity. Thanks to the massive retirement of coal plants, electricity costs will spike by as much as $17 billion per year. How big the costs increase are will depend partially on which part of the country you live in, but it’s a guarantee that no matter where you live, everyone’s prices will be going up.

3. The EPA’s regulations will cost as many as 224,000 American jobs annually.

The EPA’s War on Coal is expected to cost as many as 224,000 American jobs annually, as coal plants shut down and the cost of compliance with costly EPA regulations skyrockets.

4. The EPA’s regulations will cost the US economy $51 billion annually. 

The bill for compliance with the EPA won’t just be paid by workers who get let go; the regulations will cost the U.S. economy by as much as $51 billion per year.

5. The EPA’s regulations will lead to disposable income per household dropping by an average of $200 per year. 

Even if you and your family members don’t work in coal related fields, you won’t be free from the EPA’s War on Coal. According to the report, the economic impact of the new regulations will cost the average American household $200 per year in disposable income, rising to a peak of $367.