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Barack Obama's green plans could cripple America's economy


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Barack-Obamas-green-plans-could-cripple-Americas-economy.htmlThe Telegraph:

The economic costs of the President's ill-conceived climate change drive will dwarf any benefits

Richard Wellings

03 Aug 2015


With the US recovery still sluggish, President Obama is taking an enormous risk with his tough line on climate change. Low energy prices have played an important part in making American businesses competitive during the global downturn. They also helped keep living costs relatively low in a period when the real incomes of poorer Americans have been falling.


Cheap energy isn’t just the result of the shale-gas boom. In much of the US, the power industry continues to rely on coal. Consumers in Kentucky, where over 90% of electricity is generated from coal, enjoy electricity prices roughly 50% lower than in the UK – an indication of the huge potential cost of Obama’s plans.


Indeed much higher bills are almost inevitable now that the US is adopting EU-style policies. Carbon emissions from the power sector will be cut by an ambitious 32% by 2030 (compared to 2005 levels). Worse still, the ‘Clean Power Plan’ will favour expensive renewable energy over the relatively low-cost option of cutting emissions by switching from coal to natural gas.








But Wait! Its not all bad news How Obama’s New Clean Power Plan Might Be Just Enough To Stave Off A Climate Catastrophe


The next few years are unprecedented in human history. We know with unusually high scientific certainty that the near-term choices we as a nation and a species make about carbon pollution will determine whether or not we will destroy our livable climate in the coming decades — thereby ruining the lives of billions of people irreversibly for centuries to come.




No...Really That's What They Say. biggrin.png



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