Tags: Barack Obama | Climate Change | Global Warming | Money

Obama's 'Clean Power' an Overbloated Jobs Killer

Image: Obama's 'Clean Power' an Overbloated Jobs Killer
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Friday, 09 Oct 2015 09:27 AM Current | Bio | Archive

Harry Alford is right. Thepresident of the National Black Chamber of Commerce lately has taken heat from liberals for opposing Obama’s Clean Power Plan.

The Left finds it inappropriate that a black man who represents 2.4 million black-owned businesses would dare criticize Obama’s latest bid to foil so-called “global warming.”

This regulation spans 1,560 confounding pages and gargles 76 different acronyms. “The proposed Clean Power Plan would impose severe and disproportionate economicburdens on poor families, especially minorities,” Alford told the Senate Judiciary’s Oversight Subcommittee on Tuesday. “The EPA’s regressive energy tax threatens to push minorities and low-income Americans even further into poverty.”


Alford cited a study that his group commissioned. It found that in 2035, the CPP would boost energy costs for blacks by 16 percent and Hispanics by 19 percent.

For further proof of the CPP’s enormous burden, Alford easily could have turned to Obama’s own Energy Information Administration. Its May report titled Analysis of the Impacts of the Clean Power Plan and data on its website echo Alford’s warnings and show, if anything, that he should slam this draconian scheme even harder.

Using EIA data, I project that — between 2015 and 2040 — the CPP will:
  • Hack real GDP by $993 billion or an average of $39.7 billion per year.
  • Slice real disposable income by $382 billion or $15.3 billion annually.
  • Chop manufacturing shipments by $1.13 trillion or $45.4 billion every year.
  • Cut light-vehicle sales by 310,000 units or 12,400 each year.
  • Slash non-farm employment by 900,000 or 35,000 per annum.
  • Whack manufacturing employment by 1.7 million or 68,000 yearly.
Thankfully, Obama claims CPP will cut monthly household power bills by $7.

A White House fact sheet says that the CPP sets a “goal of reducing emissions to 17 percent below 2005 levels by 2020 and 26 to 28 percent below 2005 levels by 2025.”

This sounds lovely. However, mandating that emissions be 27 percent below 2005’s 6 billion metric tons of energy-related carbon dioxide would slash such output to 4.4billion metric tons — an amount last observed in 1983.

It seems cruel to demand that the 335 million Americans whom the Census forecasts will live here in a decade produce as little CO2 as just 234 million U.S. citizens yielded 42 years before 2025. Such lofty, fanciful central plans are a blueprint for economic and energy stagnation.

Due to anticipated padlocking of coal-fired plants under CPP, the Southwest Power Pool predicts, “the power grid would suffer extreme reactive deficiencies” including “cascading outages and voltage collapse.”

Despite its immense costs, the CPP delivers paltry ecological “benefits.” By 2050, CO2 concentrations would slip by less than 1 percent.

When he secured the 2008 Democrat presidential nomination, Obama crowed, “This was the moment when the rise of the oceans began to slow.” Now we know by how much. The CPP would limit sea-level rise by 1/100 of an inch — as high as three sheets of paper.

Satellite data demonstrate that Earth’s average temperatures have stabilized since 1998. Even if one embraces Obama’s breathless fantasies about a planet boiling in its own pressure cooker, the CPP does remarkably little about this.

The EPA estimates that Obama’s contraption will cut Earth’s expected warming by 0.02 degrees Fahrenheit by 2050. If such a temperature trim costs $382 billion in disposable income, a 1-degree Fahrenheit reduction would require $19.1 trillion — with a T — just slightly higher than today’s $18.4 trillion national debt.


“The value of this rule is not measured in that way,” EPA administrator Gina McCarthy told Rep. Lamar Smith, R- Texas, at a July hearing of the House Committee on Science. “It is measured in showing strong domestic action which can actually trigger global action to address what’s a necessary action to protect” the planet.

So, as the EPA’s chief admits, Obama has concocted a vastly expensive symbol. It kills jobs and, its authors hope, will inspire non-U.S. governments to handcuff their economies and shackle their people.

Deroy Murdock is a media fellow with the Hoover Institution on War, Revolution, and Peace at Stanford University. Read more reports from Deroy Murdock — Click Here Now.










 

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Even if one embraces Obama’s breathless fantasies about a planet boiling in its own pressure cooker, the Clean Power Plan does remarkably little about this. It kills jobs and, its authors hope, will inspire non-U.S. governments to handcuff their economies and shackle their people.
Barack Obama, Climate Change, Global Warming, Money
681
2015-27-09
Friday, 09 Oct 2015 09:27 AM
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