President Obama’s Energy Opportunity – What President Obama Must Say in his State of the Union
January 20, 2015
Washington, D.C. – Tonight, President Obama will address the nation in his State of the Union Address. The American Coalition for Clean Coal Electricity is urging the president to make the most of his energy opportunity.
“In his State of the Union address, President Obama has a momentous opportunity to restore energy security and make good on his promise to strengthen our country’s economy. America needs energy policy that works for our businesses and families; not job-killing regulations that have already caused widespread economic harm,” said Mike Duncan, president and CEO of ACCCE. “With a new Congress eager to make headway on important issues, the president and his administration must seize the opportunity to find bipartisan solutions and end the unilateral, overreaching executive fiat that has defined his second term. We’ll be watching the president’s remarks tonight and are hopeful he will outline a new plan to guide our nation on an energy pathway that creates jobs, keeps America competitive and supports a sound economy.”
In the first week of 2015 alone, the Obama Administration put forth 300 new regulations, following a year of costly environmental rulemaking as part of the president’s climate crusade. Last May, the comment period closed for EPA’s New Source Performance Standards. The agency is finalizing the rule, which is expected to be announced later this year. Perhaps the most destructive regulatory undertaking of note is the Clean Power Plan, proposed by the EPA last June, which threatens serious cost and reliability consequences.
Last year, NERA Economic Consulting studied the significant negative economic impacts resulting from the Clean Power Plan. The report, which relies on conservative data and often EPA’s own assumptions, showed double-digit electricity cost increases as a result of the proposal. According to the analysis, compliance costs could total $366 billion, or more, in today’s dollars.
Coal provides nearly 40 percent of America’s electric power, making it the most used feedstock for electricity generation. The coal-based power industry has led in developing ways to use our most reliable, affordable and abundant resource more cleanly and efficiently than ever before, investing nearly $120 billion so far to reduce emissions by 90 percent and putting in an additional $27 billion between now and 2016.