Will Carbon Caps Be A Boon Or Bust For The Economy?
William Yeatman, policy analyst at the Competitive Enterprise Institute, said he’s worried about the impact of the new regulations on the economy, in part because existing carbon reduction technologies haven't been tested on a large scale.
Yeatman said the changes could effectively put a stop to new coal plant construction, and lead to an over-reliance on natural gas for electricity production, making consumers vulnerable to price fluctuations.
“My fear would be that 10 years down the road, because we effectively banned new coal-fired power plants, all we're gonna get is gas plants," he said. "If we were to get a price spike like we saw only five years ago, then it could cause some real problems.