The Obama Administration has emphasized what they describe as the problem of income inequality. They may have trouble reconciling that with their climate change policy.
The US Chamber of Commerce estimates that, at least through 2030, the cost of compliance with the White House’s new carbon regulations will lower the U.S. GDP by $50 million annually, leading to 224,000 fewer jobs each year, force American consumers to pay $289 billion in additional electrical rates annually, and lower total disposable income for U.S. households by $586 billion.
The burden this will place on both the poor and the middle class will be enormous, as the choice between putting food on the table, paying the rent or the mortgage, vs. heating, lighting and cooling their homes becomes very real. Many will also find that, due to a significantly depressed economy, their jobs will no longer exist.
This enormous cost to the already struggling U.S. citizenry will buy only a 1.8% reduction in total domestic carbon emissions. With that microscopic level of accomplishment, it is difficult to deny that a more intelligent approach would be to accelerate research into advanced technologies that could eventually provide far more results for far less cost.
The problem is that the extremist positions of the Administration and many of those advocating environmental measures based more on symbolism than actual achievable results do so based more on ideological goals, including a resentment of the free market, than on true concern for the health of the planet.
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There is no possibility for the foreseeable future that “green” energy can replace, at any cost, that which will be lost if some traditional fuel sources are taken off line. That’s not a debate, that’s a fact. Attempts to do so will seriously damage the already fragile U.S. economy.
Nor are international implications being considered by the green-at-any-cost advocates. Moscow funds its vast military buildup through its energy sales; taking U.S. coal off line will increase the Kremlin’s profits and provide greater assets to spend on its already massive armed forces. Europe will be more dependent than ever on Putin.
Middle Eastern oil will become far more essential, leading to greater strength to those that loath the west.
Concern for the health of the planet is appropriate. Radical solutions based on ideology, not facts, are harmful both to the cause of a clean environment and to the lives of the citizenry.