President Obama recently chose a steamy day at Georgetown University to announce his new climate action plan. But a new report from the Heritage Foundation is throwing lots of economic cold water on Obama’s overheated agenda. For starters, Heritage says reduced power generation from coal-fired plants will kill 500,000 American jobs, and cost nearly $1.5 trillion of lost national income by 2030. The report also predicted a 42% rise in natural gas prices, and a loss of more than 4 out of 10 coal-mining jobs. With no actual warming in 17 years, and rising questions about the science behind man-made climate change, Americans may be reluctant to sign onto the President’s grand energy deprivation scheme.
July 29, 2013 by David Rothbard,
David Rothbard is co-founder and President of CFACT.