- Last Updated: 11:47 PM, July 1, 2012
- Posted: July 02, 2012
If the Supreme Court decision last week to bless ObamaCare doesn’t completely kill any chance of an economic rebound, a ruling by another panel of federal judges last week well might.
Without any legislative action at all, President Obama’s Environmental Protection Agency unilaterally imposed caps on carbon emissions that will effectively ban any new coal-fueled power plants in America — killing jobs and driving up energy prices.
And last Tuesday, a three-judge appellate panel backed the plan, embracing global-warming theories and citing the Clean Air Act as justification.
Foes of the caps, including 14 states, may appeal the ruling. But who knows when such an appeal may be resolved?
And the caps are part of a host of other EPA global-warming regs that, combined, will deal an economic blow felt far beyond the coal industry: Coal-fired electricity, remember, is historically one of the cheapest sources of juice in America.
The ruling is “a setback for businesses,” says Jay Timmons, president of the National Association of Manufacturers. Adds House Energy and Commerce Committee Chairman Fred Upton, it “threatens to drive energy prices higher, destroy jobs and hamstring our economic recovery.”
Ironically, Congress debated the idea of capping carbon output — and rejected it.
But President Obama would never let a small thing like congressional disapproval get in his way: His henchmen at the EPA moved ahead to impose the caps all the same. And now courts back the agency.
Bottom line: New legislation may be the only way to rein in the EPA, as Upton notes. And, indeed, GOP presidential hopeful Mitt Romney wants to strip the EPA of its right to regulate carbon dioxide.
That — and, of course, a repeal of ObamaCare — would be a healthy start on an effort to revive the US economy.Follow @NYPostOpinion