Just remember, “under my plan of a cap and trade system, electricity rates would necessarily skyrocket” (full quote at Newsbusters)
Utility giant American Electric Power said Thursday that it will shut down five coal-fired power plants and spend billions of dollars to comply with a series of pending Environmental Protection Agency regulations.
The company’s dramatic plan to comply with the regulations could give Republicans and moderate Democrats ammunition in their ongoing fight against EPA’s efforts to impose new regulations aimed at limiting greenhouse gas emissions and air pollutants including mercury and arsenic.
Rep. Shelley Moore Capito (R-W.Va.) and Sen. Joe Manchin (D-W.Va.) immediately pounced on AEP’s announcement.
“This is a perfect example of the EPA implementing rules and regulations without considering the devastating impact they may have on local economies and jobs,†Capito said.
And with each plant closed with nothing to take its place, costs to the consumer go up.
