NMA: Paris climate agreement leaving US consumers with large price tag

The US National Mining Association has released a statement on President Obama’s unveiled plans at the Paris climate agreement, indicating it leaves US consumers with a hefty price tag as other countries ramp up their use of coal.

President Obama unveiled a plan at the climate conference in Paris that included plans for reducing carbon emissions from existing power plants. The National Mining Association (NMA) has cautioned that this will come with an overall price tag that should greatly trouble American consumers and business and will have little meaningful impact on global warming.

“The plan will replace low-cost power supplies with more expensive and less reliable sources of power. And these increases will show up in monthly utility bills and have a particularly devastating effect on low-income households. About half of all American families already pay close to 20% of their disposable income on energy-related expenses.” stated Luke Popovich, Vice President, Communications, National Mining Association.

Refuting the Obama administration’s claim that its Clean Power Plan (CPP) will be virtually cost free, a new analysis by Energy Ventures Analysis (EVA), finds consumers will pay an additional US$214 billion by 2030, with 45 states facing double digit increases in wholesale electricity costs and 16 states saddled with a 25% increase or more. Added to this total will be a projected US$64 billion bill to replace an estimated 41 000 MW of power plant capacity that will be forced to close, enough to power 24 million homes.

“While the Paris climate agreement is only a set of unenforceable guidelines, the president’s emissions reduction plan obligates the US to be the only ‘good kid in the class’ by shutting down coal power plans and increasing costs to consumers, even as other countries remain free to flout the U.N. guidelines and ramp up their use of coal,” Popovich continued.

“The irony is that the US already is the good kid, developing and implementing the clean coal technology that lets the world continue to use this plentiful and affordable resource without cumbersome and intrusive regulations.”

In an attempt to transform the nation’s electricity system under the Clean Air Act, the Environmental Protection Agency (EPA) mandates a 32% cut in US CO2 emissions by 2030 from 2005 levels. To accomplish this, the CPP would displace 40% of total US coal-fired power generation, but reduce global carbon dioxide emissions by less than 1% and global temperatures by 0.02°C by 2100.

“There are better ways to address climate change without damaging the merican economy – and actually have a meaningful impact on global warming. It starts with developing the technology that can make coal cleaner to use. After all, at the UN climate conference the president heard that the rest of the world will be using more coal whether he likes it or not. For that reason, better technology for the world – and not more regulation for the US -- is the most effective approach for addressing climate change,” concluded Popovich.

Edited from press release by Harleigh Hobbs

Read the article online at: https://www.worldcoal.com/coal/21122015/nma-paris-climate-agreement-leaving-us-consumers-with-large-price-tag-3320/