Posted on 08/14/2015 12:17:54 PM PDT by Kaslin
U.S. households are saving hundreds of dollars a year because natural gas prices are low, but that’s about to change. Astudy by NERA Economic Consulting has found new regulations on power plants mandated by the Environmental Protection Agency’s Clean Power Plan (CPP) will increase natural gas prices to 2007 levels, virtually guaranteeing these savings will soon be wiped out.
A study by the Brookings Institution found natural gas prices have plummeted as horizontal hydraulic fracturing, also known as horizontal “fracking,” has caused U.S. natural gas production to skyrocket to all-time highs, making the United States the world’s top producer of natural gas.
Record-high production caused natural gas prices to fall from $8.03 per million cubic feet (mcf) in 2007 to less than three dollars today. As a result, U.S. natural gas consumers will save $181 to $432 per person, depending on which part of the country they live in. For a family of four living in Ohio, the savings add up to $1,036 of their money they get to keep. People change car insurance providers to save substantially less money than that.
Unfortunately, these savings will soon go up in smoke because of CPP.
The goal of the Obama administration’s new regulations is to reduce carbon dioxide emissions by 30 percent of 2005 levels by 2030. Because wind and solar account for less than 5 percent of U.S. electricity generation, despite receiving decades of subsidies and billions of taxpayer dollars, this goal can be accomplished only by shutting down coal-fired power plants and replacing them with natural gas-fired electricity generation.
This transition has already begun. In April of this year, natural gas accounted for more electricity generation than coal for the first time ever, with natural gas generating 31 percent, compared with 30 percent for coal. Regulating coal out of our energy portfolio will have serious negative consequences because it means abandoning a reliable, abundant, and affordable source of energy. The Obama administration’s ideological war against coal means demand for natural gas for electricity generation will continue to grow, with the goal of the CPP to increase the use of natural gas to account for an average of70 percent of the electricity generated in each state, causing natural gas prices to climb back up to approximately $7.80 per mcf and essentially incinerating the savings U.S. consumers currently enjoy.
Those who argue the power plant rules are needed to avoid the negative effects of climate change should reconsider their position. EPA’s own climate models show the regulations will reduce the amount of projected warming by a negligible .018 C, an amount below the margin of error in the calculations. In other words, these regulations will cost billions of dollars to implement, will significantly increase the costs of natural gas and electricity, will hurt low-income families the most, and will have no positive impact on the environment whatsoever.
EPA officials argue we need the rules in order to set an example for the rest of the world. That brings to mind something our mothers told us: “If your friends all jumped off a bridge, would you jump off too?” The big carbon dioxide emitters, such as China and India, are listening to Mom and are not going to jump with us. On the contrary, they’re building new coal-powered plants every day.
Low natural gas prices made possible by horizontal fracking are a tremendous boon for families struggling to make ends meet, but even these low prices are barely compensating for the significant, long-term damage being inflicted upon our energy system by the Obama administration’s reckless war against affordable energy. By the time people realize the impact of the Clean Power Plan regulations, it may be too late to reverse the damage.
Ping.
Natural gas burns CLEAN. These leftscum aren’t concerned about pollution. They want us to live in caves.
As noted by others here, the prosperity of civilization is directly related to how much energy is at the disposal of the median citizen. That’s what they are attacking: prosperity and civilization itself!
heard on the radio that the Environmental Activists say we (US) have already consumed our ‘fair share’ of natural resources. We are now ‘stealing’ from the rest of the world.
Ridiculous.
If you want your natural gas, you can keep your natural gas.
They want us to live in high density urban locales where we are more easily controlled. Raising energy prices is a good way to drive a lot of people in that direction.
They don’t necessarily want us to live in caves, but they do want to herd us into the cities. Look at the electoral map of America by voting pattern down to the precinct level, which I am sure the democrats have. The cities are packed with governmentally dependent reliable democrats. The independent affluent suburbs are the only places you find conservatives who favor limited government in any meaningful numbers. To guarantee a perpetual lock on political power, you have to herd the independent suburban dwellers into the cities where they will be converted into democrats. To do this, you destroy the two things essential for suburban existence; abundant well-paying jobs and cheap energy. Every policy of this regime serves one or both goals of eliminating well-paying jobs or ending cheap energy.
It’s exactly what he meant by “fundamentally transforming America.”
If Obama ever leaves office I wonder how much kickback money will come back to him from Siemens, Vestas, and GE.
“EPA officials argue we need...to set an example for the rest of the world.”
Oh, we’re doing that, alright. Setting an example of what blithering idiots we have running this country.
Well said. Agree 100%.
This is the article to which I was referring.
You said Kaslin didn't link to the article.
Look.....
Like Cheap Natural Gas? Obama’s Clean Power Plan Will Regulate It Out of Existence
Townhall.com ^ | August 14, 2015 | Isaac Orr
Posted on Friday, August 14, 2015 2:17:54 PM by Kaslin
Now. You see the link to Townhall.com ^ ? Click it. It does not take you to Townhall.com. It takes you where? That's right. To the article. Directly to the article. This is what I've been telling you over and over.
Do you get it now?
OUT-OF-CONTROL Executive branch. DEFUND EPA
http://www2.epa.gov/planandbudget/budget
http://www.businessinsider.com/epa-caused-colorado-river-disaster-2015-8
We can no longer afford UNaccountable bureaucrats (socialists).
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