Among the countless issues and storylines that drove the historic 2016 presidential election, few if any drew a more striking contrast than the Trump and Clinton campaigns’ respective approach to energy policy, and coal in particular. Mrs.
Yogi Berra once famously said “A nickel ain’t worth a dime anymore.” If he had been talking about EPA’s Regional Haze regulations, he could have been talking about a whole lot more nickels--$2 billion dollars worth to be exact.
It was about a year ago that we posted a bit of analysis on the U.S. Energy Information Administration’s (EIA) independent look at the economic and energy market impacts of the Environmental Protection Agency’s (EPA) Clean Power Plan (CPP) proposed rule. You can probably get a hint what we found out from the title—EIA Analysis Shows EPA’s Carbon Regulations All Economic Pain for No Climate Gain. We concluded that:
Take a look at the chart below, which was taken from a presentation made by Jim Skea, Co-Chair of the Intergovernmental Panel on Climate Change’s (IPCC) Working Group III, to the Parties to UN Framework Convention on Climate Change (UNFCCC) here in Bonn, Germany last week.
The curved line depicts what Mr. Skea describes as the increase in the “level of effort, as measured by carbon price” needed to limit the increase in the average global surface to no more than 2.0°C, the aspirational goal in the Paris Agreement. That’s some steep curve!
Since February 3, 2017, the Federal Energy Regulatory Commission (FERC)--one of the essential pieces of our nation’s energy puzzle-- has been hobbled, and the time is now to get it back working again. On that day, Commissioner Norman Bay departed, leaving FERC unable to carry out many of its statutory duties. With just two commissioners, FERC was left for the first time in its history without an operational quorum.
“Infrastructure Week” is a series of events this week put together by a coalition, including industry and labor, focused on raising awareness about the need to build better infrastructure for our country. At the U.S. Chamber, we are glad to be a part of the effort. We know that safe, reliable infrastructure of all kinds is needed to ensure economic growth.
Energy infrastructure is an engine for American jobs & economic growth. #TimetoBuild