Yesterday the U.S. Supreme Court ordered a temporary halt to the Obama administration’s plan to cripple the nation’s energy sector. 27 states had filed suit against the rules that would be enforced by the EPA – which included reducing carbon dioxide emissions by an impossible one-third by 2030.
The court order prevents the rules from taking effect while a separate legal battle over the legality of the rules themselves is resolved in the courts.
Any ruling undercutting this unprecedented power grab by the EPA is good news for North Carolina and the nation – in particular for low-income households who would be especially harmed by the rising electric bills and job destruction the EPA rules would have unleashed.
A year ago, Civitas published a study performed by the Beacon Hill Institute at Suffolk University that examined the harmful effects these EPA rules would have had on North Carolina. Among the findings were:
- EPA rules will cost the North Carolina economy a total of $1.7 billion between 2015 and 2030.
- The state’s economy will lose 32,120 jobs by 2030.
- Real disposable income would fall by $3.5 billion per year by 2030.
- Electricity bills for residential ratepayers will increase by about $355 per year by 2030, and for industrial ratepayers by nearly $52,000 per year.