McKinley Leads Hearing That Focuses on the Impact of Increased Utility Costs with Biden’s Climate Agenda

McKinley Focuses on Job Loss and Rising Prices During Hearing on the Impact of Biden’s Climate Agenda

Washington, D.C. - Today, U.S. Representative David B. McKinley, P.E. (R-W.Va.), Ranking Member of the Energy and Commerce Subcommittee on Environment and Climate Change, led and moderated an in person Congressional hearing entitled “Mounting Costs: The Real Harm of the Biden Administration’s Environmental Agenda on the American People and the Economy.”

The Committee heard from the following participants and experts in the hearing:

  • Douglas Holtz-Eakin - American Action Forum President
  • Tom Dobbins - Aluminum Association President and CEO
  • Michelle Bloodworth - Americas Power President and CEO

Below is an expert from the Congressman’s remarks:

President Biden and Congressional Democrats are pushing climate proposals calling for zero carbon emissions from power plants by 2035 and net zero emissions economy wide by 2050. 

Can this be done? Yes. But there are consequences. Rising energy prices, massive job losses, dangerously high global CO2 levels, and we will still have extreme weather events.

 

First, the average price of electricity would almost double by 2035 according to the electric power research institute if we go 100 percent renewable. The Institute for Energy Research and others have testified that residential utility bills will skyrocket between $2,000 - $4,000 per year with 100 percent renewables.

 

Increasing the cost of electricity hurts energy intensive industries like steel and aluminum, making them less competitive

 

Second, we will see massive job losses. Nearly 200,000 coal jobs would disappear with the elimination of coal-fired power generation according to the energy futures initiative. Much needed tax revenue gone, hurting, schools, hospitals first responders. Let’s use McDowell County West Virginia, for example the closure of coal mines and power plants in McDowell County caused a loss of 80% of its population.

 

…….

 

Third, it’s more than electricity costs. Americans are paying more for everything, gasoline prices have surged 56% over the past year, transporting goods is up 11.2% since May 2020, and food are rising at levels not seen 30 years. This war on fossil fuels is being exacerbated by inflation which is at a 13-year high.

 

Fourth, CO2 levels will still be at dangerous levels – above 350 ppm - according to John Kerry who also said that we could go to zero tomorrow and it would have no effect on global CO2 levels.

 

Fifth, all of this economic devastation and we’re still going to experience extreme weather events unless China and India reduce their emissions according to testimony to this Congress.

 

So, let me get this straight, utility bills will rise, neighbors will their lose jobs, schools will lose funding, CO2 in the atmosphere will still be dangerously high and we will still have extreme weather events.

 

Instead of short-sighted plans we have a bipartisan plan innovate first – allows for innovation to reduce emissions. Even G7 leaders acknowledge the complex issue and can’t agree to phase out coal.

 

Lowering global emissions requires innovation not regulation.

 

Background:

McKinley led and moderated a virtual forum entitled “President Biden’s Cancellation of the Keystone XL Pipeline and American Jobs” in April of this year. The hearing focused on job loss and community impact from the cancellation of the Keystone Pipeline XL.

To read about the hearing click on E&E NewsWV MetroNews, and Politico’s Morning Energy.

To watch the Congressman’s opening statement from today, click here.

To listen the Congressman’s questions from today, click here.

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