A major, crippling regulatory takeover has been at the very least delayed, and I hope it may be eventually averted altogether.
As I explained last summer, the proposed regulations would:
- impose at least $366 billion in costs
- hit residents in 43 states with double-digit percentage increases in their electricity bills
- cost consumers and businesses $41 billion to $73 billion or more for electricity per year
- prematurely shutter 45,000 megawatts of coal-fired power generation capacity — more than New England’s entire electric generating capacity — and as much as 169,000 megawatts if EPA cannot legally allow all options it specified for compliance.
- shut down 68,000 megawatts of fossil fuel electric generating capacity
- lead to widespread rotating blackouts in parts of the country
OK, but what would the offsetting benefits be? This:
- the Clean Power Plan would only reduce temperatures by 0.018 degrees Celsius by 2100
Read my newsletter today to see the EPA’s reckless game of imposing and forcing costly compliance with illegal rules, with the expectation that court action will be beside the point when it finally happens. That’s what this emergency stay hopefully puts a stop to.
Also read my colleague Jon Guze’s post below mine for more info.