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Shop NowJoe Biden just made a move against fossil fuels that will crush the industry and kill our pockets in the same stroke.
Biden’s EPA just revealed new regulations for fossil fuel-fired power plants.
Even the Biden administration had to admit this will significantly raise energy costs in this country.
Just Brutal
The new measures will reportedly cut carbon emissions in the United States by 617 metric tons.
The problem is that the standards and timeline set are going to make it tough for some of the most than 3,300 power plants in this country to meet.
So, some of them will be shut down.
In terms of what it will cost the industry, the EPA predicts it could raise energy costs on average by about nine percent.
EPA Administrator Michael Regan stated, “By proposing new standards for fossil fuel-fired power plants, EPA is delivering on its mission to reduce harmful pollution that threatens people’s health and wellbeing.
“EPA’s proposal relies on proven, readily available technologies to limit carbon pollution and seizes the momentum already underway in the power sector to move toward a cleaner future.”
Michelle Bloodworth, the president and CEO of America’s Power pushed back, “Coal power plants are one of our most dependable and affordable sources of electricity.
“Unfortunately, EPA’s proposed carbon rule is at least the third rule EPA has issued within less than two years that is designed specifically to cause the premature closure of coal power plants.
“The proposal raises a number of critical legal questions, including whether EPA has the authority to force the use of technologies that are not economically or technically feasible for widespread use.
“One of the consequences of prematurely retiring coal plants is to exacerbate the risk of power outages.”
That estimate does appear to be a bit short, by the way, as Henry Hub, the industry standard for setting the spot price, is predicting a 10 percent increase in pricing.
Source: Fox News
