For decades, politicians have talked about goals of energy growth, independence, and diversity, and today’s political rhetoric is not much different than in years past. While inaction in many areas is the same, what is different today is the aggressive regulatory action taken by Federal agencies, particularly the EPA, that is negatively impacting the availability and cost of energy.
To be clear, reasonable regulations are both necessary and beneficial in setting clear standards in business, and a healthy environment and a healthy economy are inextricably related because a healthy economy will foster technology development and other innovations that cut pollution and improve the environment (Google ‘Environmental Kuznets Curve’). Therefore, in order to promote both the economy and the environment, regulatory costs and economic benefits must be carefully considered together. Looking at recent and ongoing regulatory actions within EPA and other Federal agencies, it is clear this Administration is not consideringcosts and is on a path, through a myriad of regulatory moves with either insignificant environmental benefit or none at all, to try and diminish or stop the use of coal, an affordable and tremendously abundant U.S. energy resource.
With the surge of shale oil and natural gas production in the U.S. along with conventional energy reserves, the U.S. is the richest energy country in the world. This is an enormous economic advantage for our country but only if we useall our resources efficiently, especially our most affordable resources.