Representative James Lankford (R-Okla.) issued the following statement after the Obama Administration announced plans for excessive new federal regulations on American energy producers the Administration claims will cut emissions from power plants, especially coal-fired plants, by 30 percent by the year 2020.
"The Administration's announcement of new regulations on American energy providers will hurt those in poverty, arbitrarily driving up electricity costs for all American families," warned Lankford. "The increased cost to low- and fixed-income American families will hit their budgets hard for food and electricity. Oklahoma utility companies have already predicted that existing EPA regulations will drive up electricity costs, and this only compounds that problem.
"When all is said and done, what will we actually gain in our effort to preserve our environment, if this change takes effect? Right now, the President says we need to be a world leader in climate change mitigation. But will these changes actually improve our climate, or will they just cost struggling American families more money?
"In the days ahead, Congress will deliberate the President's proposed changes, but the Administration has not provided compelling proof the benefits to the environment outweigh the high cost to American families," concluded Lankford.
According to reports of analysis by the U.S. Energy Information Administration (EIA), retail power prices will rise four percent on average over the next year, which will represent the largest increase since 2008. By 2020, retail energy prices are expected to increase an additional 13 percent. This drastic uptick in prices in just six years does not include the cost of new energy rules and regulations like the Administration's announcement this week or the regional haze compliance now facing Oklahoma energy customers.