New EPA Rules will cost state economy $968 million and eliminate 16,260 jobs by 2030
New Orleans – Today the Pelican Institute for Public Policy is releasing a new study by economists at the Beacon Hill Institute at Suffolk University which finds that the three recent Environmental Protection Agency regulations on mercury and carbon dioxide emissions will increase Louisiana electricity prices by 22 percent by 2030.
These increased electricity costs will reduce Louisianan’s real disposable income by $1,962 million, reducing the number of jobs in the state by 16,260 by 2030. In total, the regulations will cost the state economy $968 million over that time frame.
“Along with these significant costs, it is worth noting that the increase in electricity prices would disproportionately affect lower-income Louisianans who spend approximately 70 percent of their after-tax income on energy” said Pelican Institute president Kevin Kane. “These costs need to be taken into consideration by state and federal policymakers.”