Obama’s Energy Plan: Costs Rise, Jobs Decline
March 6, 2012
Rising gasoline prices are again spotlighting President Obama’s energy prescriptive — one of the most dangerous policies embraced by his administration. While he urges Americans to “place your bets on a clean-energy-future,” he is asking them to accept a heavy tax on our economy. When Obama claims, “We can’t rely on the fossil fuels from the last century,” he reveals an outdated grasp of our country’s energy profile. How ironic that this “new generation” leader is so behind the times.
A new report from Robert Bryce of the Manhattan Institute details the harm done by the fanciful quest for clean energy at any price. Mr. Bryce has studied the impact of so-called “renewable portfolio standards” (RPS) – the kind of directive that Mr. Obama wants to set for the entire nation — on the 29 states that have adopted these required minimum mandates for “green” energy. He finds that forcing utilities to buy wind and solar energy drives up electricity costs and slows growth. Specifically, in the states adopting RPS, electricity costs were on average 32 percent higher than in states without such mandates. In coal-dependent states, the damage is even worse; in the past decade, those regions have suffered a 54 percent hike in electricity costs.
In his 2011 State of the Union address, President Obama called for a renewable portfolio standard for the entire country – 80 percent to come from clean energy by 2035. Can our country afford to ladle sharply higher power costs on citizens and businesses? Those pushing these demands are clueless. They have not been required to produce cost-benefit analyses of these shifts to clean energy. In other words, we are flying blind even as we are well on our way to a country-wide mandate. Today, Bryce says, some two-thirds of the country’s population is impacted by these green mandates. As the policy spreads, the damage will grow.