CEO DATELINE - Business groups blast Obama efforts to fight climate change
CEO DATELINE - Business groups blast Obama efforts to fight climate change
- December 21, 2015 |
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Walt Williams
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President Barack Obama's climate change policies have earned him a sharp rebuke from two business groups, both of which say his plans will ultimately do more harm to the economy than help the environment.
On Saturday, the president vetoed two resolutions passed by the Republican-controlled Congress that would have prevented the Environmental Protection Agency from implementing new greenhouse gas regulations for power plants. The regulations are a key part of Obama's strategy to fight climate change.
The U.S. Chamber of Commerce argues what the regulations will really do is drive up the cost of doing business. Karen Harbert, CEO of the Chamber's Institute for 21st Century Energy, said the rules would not result in "any significant reduction" in greenhouse gas emissions.
"The president's veto of legislation that would have halted his EPA's regulatory overreach ignores reality in favor of politics, and leaves the legal system as the best remaining course for those of us who are seeking to protect consumers and businesses, at least during the remainder of this administration," she said.
The National Mining Association took its criticism even further, commissioning a study that concluded consumers would pay an additional $240 billion in electricity costs by 2030 under the new regulations. Forty-five states would see double-digit spikes in wholesale electricity costs, the association said.
"There are better ways to address climate change without damaging the American economy—and actually have a meaningful impact on global warming," said Luke Popovich, NMA's vice president of communications. "It starts with developing the technology that can make coal cleaner to use."
The White House said the plan put forward by the president would cut greenhouse gas emissions by 30 percent by 2030, resulting in a savings of $50 billion in climate and health-related costs.
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