Shimkus: EPA Cap-and-Trade Rule ‘All Pain, No Gain’

WASHINGTON – Congressman John Shimkus (R-Illinois-15), a senior Member of the House Energy and Commerce Committee and Chairman of its Environment and Economy Subcommittee, released the following statement in response to the new cap-and-trade rule EPA unveiled this morning:

“After failing to win support for a cap-and-trade program in Congress, the Obama Administration is now attempting to implement a similar scheme through EPA rulemaking. Without a doubt, this new front in the War on Coal will raise electricity rates – especially in the Midwest – and cost hundreds of thousands of good paying jobs nationwide.

“All for what though? EPA Administrator Gina McCarthy already conceded that it’s ‘unlikely’ any of EPA’s climate-related rules will have a meaningful impact on the agency’s own indicators of global climate change. In fact, even if President Obama could close every coal-fired power plant in America tomorrow, the effect on global emissions would be entirely offset by just a fraction of the proposed coal-fired plants being built overseas.

“This rule will be all pain and no gain for American energy consumers and job seekers.”

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Update June 19: Rep. Shimkus reminds his Energy & Commerce Committee colleagues of the jobs lost in the War on Coal: