Nonsequitur: The Costs of Obama’s Proposed EPA Regulations
May 29, 2014
In early June, President Obama is expected to announce new EPA regulations* aimed at reducing carbon emissions to 42% of 2005 levels by 2030. An independent study by the US Chamber of Commerce’s Energy Institute looked at the costs of these regulations. Selected summary charts are posted below. You can read the full report here. “Highlights” include 224 million jobs lost PER YEAR, GDP losses of $51 billion PER YEAR, and increased energy costs at more than $285 billion.
*Please note that these new EPA regulations are not part of new legislation, developed and approved by Congress. Instead, the President has opted for “executive orders” to make these sweeping and hugely impactful changes.