The cost of War – on Coal
Townhall – Bob Beauprez – 6/30/2013
Obama justifies
both his unilateral action and cost of the War on Coal with the same
explanation Progressives use for virtually every item on their agenda. We
simply must "combat this threat on behalf of our kids." It's
always for the children, isn't it?
As we said in a post yesterday,
"Obama's new War is a war against ourselves. Virtually all of the
coal is domestically produced supporting
American jobs, families and communities, and providing a huge portion of the
affordable energy necessary to support citizens and businesses throughout the
nation."
A team of Heritage
Foundation Scholars analyzed and quantified the cost of Obama's War on Coal for
just the first years from 2015-2030. Led by David W. Kreutzer, Ph.D.,
Research Fellow for Energy Economics and Climate Change, the Heritage scholars confirmed
our assertions from yesterday's blog post. Obama's war "with no
compelling scientific argument" to justify it, will most certainly have
tangible, harmful consequences for every American citizen.
Here's a link
to the entire Heritage report, and below is a key excerpt with the summary
findings:
While it may not be clear
exactly which policies will be used, it seems clear that zeroing-out coal-fired
electric power plants is a goal of this Administration’s environmental team.
This paper will analyze the economic impact of setting such a target. We look
at the first 16 years of a 20-year phase-out of coal power: 2015–2030.
The analysis shows
significant economic losses extend beyond the obvious areas of coal mining and
power generation. In particular, we find that by 2030:
Employment falls by more than 500,000 jobs;
Manufacturing loses over 280,000 jobs;
A family of four’s annual income drops more than
$1,000 per year, and its total income drops by $16,500 over the period of
analysis;
Aggregate gross domestic product (GDP) decreases
by $1.47 trillion;
Electricity prices rise by 20 percent;
Coal-mining jobs drop 43 percent; and
Natural gas prices rise 42 percent.
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