President Obama doesn't have a lot of time left in office, but his new policy could cripple America for many years after he leaves office.
Under the guise of climate change, Obama just passed legislation that would cut power plants more than ever in U.S. history. According to Yahoo news, The plan calls for the U.S. to cut overall power plant emissions 32 percent by 2030 compared to the 2005 levels.
The Obama administration estimates that their plan would have a price tag of $8.4 billion annually by 2030. The administration’s attempt to justify the legislation argued that power bills would decrease because people would use less electricity and rely more heavily on low-cost sources like wind and solar.
The energy industry has dismissed those estimates. While effective, solar and wind power are still very costly alternatives compared to coal. Instead of causing everyone to be suddenly wind and solar-dependent, people would be forced into paying higher power rates. Also, the U.S. economy could see a sharp decline.
Wisconsin Governor Scott Walker said the new regulation was like a “buzz saw” to the U.S. economy, while Jeb Bush said that the plan “will throw countless people out of work and increases everyone's energy prices.”
Many states say Obama's power move (pun intended) is a gross overreach of federal power, compromising America's free market system. If the Obama Administration can limit power production (a huge industry), who's to say they can't do the same for food production or the tech industry? What stops them?
Many are upset, and 16 states are challenging the mandate that had the Obama Administration celebrating this week. Texas, Kentucky, Kansas, Indiana, and Wisconsin are a few states that said they would vigorously fight the ruling. West Virginia Attorney General Patrick Morrisey predicted that 20 to 25 states would join the suit against the government.
With legislation this large, there will be a long and drawn out fight surrounding it. But Obama has already managed to control American health insurance, redefine marriage, and partner with Iran. Will controlling America's energy be next?
Do you think this move is good for the environment or bad for the economy? We would love to hear your thoughts.