by Craig E. Richardson, E&E Legal President
As Appearing in The Hill
America needs to develop its natural resources within a framework of policies that protect the Earth through wise stewardship of the land. While the past eight years have yielded a windfall of policies, there has been little wisdom attached to them.
Take for example the Obama administration’s Clean Power Plant (CPP) rule. Enacted by executive authority alone and now awaiting the Supreme Court’s ruling as to its validity, it is purported to address climate change. The CPP would cost the energy industry between $41 billion and $73 billion per year, according to economic consulting firm NERA. Ultimately, it is consumers who would bear the compliance costs in the form of higher electricity rates, which would include double-digit price hikes in 41 states, with 28 states potentially facing peak year electricity price increases of at least 20 percent.