The National Black Chamber of Commerce wants to know how minorities will be able to afford energy after EPA regs spike prices.
I realize that Liberals will probably scoff at the National Black Chamber of Commerce as a “conservative” organization. But they never care about bias when they get support from Liberal black organizations. Besides, their statement is just common sense. Poor people will be devastated when energy prices are forced upward.
But another factor will be jobs. If power plants close, which groups will be hit hardest with unemployment?
The Washington Times reports, “Obama’s Clean Power Plan could push millions of minority Americans into poverty.”
This summer the Environmental Protection Agency (EPA) will finalize its carbon-dioxide emission regulations under President Obama’s Clean Power Plan. The EPA’s own data projects the regulations will reduce global carbon by less than 1 percent and sea level rise by one one-hundredth of an inch. The price Americans will pay for these “benefits” is layoffs and increased energy rates. Yet for the nation’s most vulnerable, the impacts will be far worse, pushing millions into poverty.
Proposed in June 2014, the Clean Power Plan imposes emission reduction targets on each state, with some facing targets as high as 50 percent and 70 percent. The problem is such aggressive targets are simply unattainable. This will force states to close power plants and use inefficient energy sources, causing hundreds of thousands of layoffs and double-digit rate increases in more than 40 states.
While the impacts of the regulations will harm the nation as a whole, job losses and rate increases will be particularly devastating to those already struggling under the president’s failed policies.
A recent report by the National Black Chamber of Commerce found the impact of the president’s and the EPA’s proposed regulations on minority communities would be devastating. The report focused on job losses, reductions in household income and increased poverty rates.
The chamber found that implementation of the EPA regulations would result in the loss of an increasing number of African-American and Hispanic jobs. In 2020 alone, 200,000 African-American jobs are projected to be lost, with Hispanics suffering more than 300,000 job losses. By 2035, the cumulative job losses for African-Americans would total nearly 7 million and for Hispanics over 12 million.
The report further found the EPA’s regulations would decrease median household income for African-Americans by more than $5,000 over the next 20 years. For Hispanic Americans, the losses would exceed $7,000 during the same period.
I expect the EPA to discount these findings, but I doubt they will try to refute them. The fact is that the EPA doesn’t care who it hurts and probably gave no thought, let alone study, to the impact their regulations will have on the economy.