Experts say that the new EPA regulations could close hundreds of power plants, according to the New York Times, but anyone with common sense knows that imposing costly regulations on any industry is bad for business. These closure will leave many states, like Kentucky and West Virginia, in the lurch, but the proposed rules will also have a much broader effect as well: they will raise energy prices and therefore the prices of everything that uses energy. So unless you’re walking to the store to buy a homemade basket crafted from locally grown plants raised without the aid of modern farm equipment, look forward to a price increase on your baskets (oh, and everything else too).
It shouldn’t be news to the President that the economy is in tough shape (after all, it was in the news, which is where the President learns most things about the country) and that we’re one more quarter of contraction away from another recession. If only he would take a look at the House passed Electricity and Security Affordability Act or our work to approve the Keystone pipeline and critical infrastructure projects or to rein in red tape, he would see that there’s a way to help the economy, and onerous regulations by EPA fiat is not the way.