"The president has stated that his plans for the energy sector will necessarily cause utility rates to “skyrocket“ and result in the closure of coal-fired power plants.
The Heritage Foundation released a study last fall that found the EPA regulations the Obama administration has announced in order to achieve its climate change goals would reduce the United States’ Gross Domestic Product by $2.5 trillion by 2030. Further, employment levels would “track nearly 300,000 jobs below the no-carbon-regulation baseline in an average year, with some years seeing an employment deficit of more than 1 million jobs.”
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