Jonathan Chait tears apart the recent Chamber of Commerce study claiming that the upcoming power plant regulations “will generate substantial adverse economic impacts in the United States.”
“The Chamber study employs a couple easily spotted gimmicks,” doubling demand for electricity assumptions, from a historical 0.7% to 1.4%.
“Second, it measures a far more ambitious plan than the administration is likely to propose … The Chamber measures a much stricter target: a 42 percent reduction by 2030.”
“Even so, while the study uses lots of impressive adjectives to describe the size of the cost it predicts, the numbers are pretty meager. It predicts the regulations will increase electricity costs by $17 billion a year. Scared? … For the average American, that’s about $100 a year in his electric bill.”
“The premise of the Chamber’s study is that global emissions lie completely outside of American influence, so we might as well use all the dirty energy we can and let future generations deal with it … But what the Chamber is actually demonstrating, in its attempts to frighten us, is that we hardly have anything to fear.”