20 June 2014

Steve Daines’ hot air bill could increase electricity prices

He doesn’t call it that, of course. It’s official name is the Coal Jobs and Affordable Energy Protection Act. It would prevent the Environmental Protection Agency’s proposed carbon dioxide regulations (PDF) to by reduce by 2030 American CO2 emissions 30 percent from their 2005 level “…from taking effect until these simple but important benchmarks are met:”

The Department of Labor certifies that the regulations would not cost jobs.
The Congressional Budget certifies that the regulations would not result in any loss in the gross domestic product.
The Energy Information Administration certifies that the regulations would not increase electricity rates.
The Federal American Electric Reliability Corporation certifies that electricity deliver would remain reliable.

Daines’ conditions, of course, are designed never to be met.

The EPA’s goal, however, is reasonable and can be met. In fact, according to the Bloomberg Daily Environment Report, we’re already more than halfway there:

Though the EPA anticipates its proposed rule will reduce carbon dioxide emissions from the existing fleet of power plants by 30 percent from 2005 levels by 2030, many of those reductions already have been achieved as a result of the slowing economy and a shift from coal to natural gas to fuel power plants. Carbon dioxide emissions from power plants have declined by nearly 16 percent since 2005, according to the EPA’s Inventory of U.S. Greenhouse Gas Emissions and Sinks: 1990-2012. [Emphasis added.]

Furthermore, the benefits outweigh the costs:

The EPA anticipates the proposed rules would produce net climate and health benefits of between $48 billion and $82 billion at a cost of between $5.4 billion and $8.8 billion to the power industry in 2030. The EPA anticipates its proposals could reduce retail electricity bills by 8 percent as states and power companies invest in measures to reduce electricity demand. [Emphasis added.]

So why does Rep. Daines think that introducing a bill that could increase the price of electricity win vote?