If voters knew how America's economy would look after two terms of President Barack Obama's administration, Mitt Romney would win in a landslide.
In the 2008 campaign, President Obama told the San Francisco Chronicle that the “notion of no coal...is an illusion.” He noted that he favors a cap-and-trade system “[s]o if somebody wants to build a coal-powered plant, they can. It’s just that it will bankrupt them because they’re going to be charged a huge sum for all that greenhouse gas that’s being emitted.”
While Obama did not get to implement cap-and-trade, he found other ways to shut down coal burning power plants.
In the name of a rigidly anti-prosperity ideology, Obama's administration, through the Environmental Protection Agency, is continuing its war on jobs and reliable sources of energy. And like most onerous regulations, the true costs are not immediately visible.
As announced by Lisa Jackson, the chief EPA Administrator, three new regulations for air emission standards have been announced, which will cost American consumers more than $13 billion per year. Also, according to estimates by the Senate Republican Policy Committee, other rules dealing with coal ash and air could cost an additional $90 billion annually.
Obama's claim to have an "all-of-the-above" energy strategy is a ruse. Instead, his administration seems determined to extend our economic recession, while government bureaucrats find creative ways to make energy more expensive.
More than 2,000 employees of the coal industry were laid off this year, and that industry expects 10,000 more layoffs in direct and related jobs. In addition, as reported by Human Events, leaked documents from the Obama administration estimates that one rule on water quality requirements will be responsible for an additional 7,000 fired workers.
The new regulations are so extreme that, in effect, they require all new power plants must be powered by natural gas, an imperfect fuel.
This may make the natural gas lobbyists who work with the Obama administration happy, but the incredible amounts of methane expanded natural gas would not please environmentalists.
In five months, natural gas prices have increased by 52%, with the Obama administration's rules largely to blame. According to Reuters data, as demand is expanding globally, natural gas is quickly approaching a price which is $2 more than the same per unit, which results in higher energy prices for cash-strapped consumers who already heat their homes with natural gas.