In January 2008 Barack Obama¬†told¬†the San Francisco Chronicle:
‚ÄúUnder my plan of a cap and trade system¬†electricity rates would necessarily skyrocket. Businesses would have to retrofit their operations. That will cost money. They will pass that cost onto consumers.‚ÄĚ
He promised that his plan would cause electricity rates to skyrocket.
Chase Power, the parent company behind the $3 billion Las Brisas coal power plant in Corpus Christi, Texas, announced yesterday that it was cancelling the project.
‚ÄúChase Power ‚Ä¶ has opted to suspend efforts to further permit the facility and is seeking alternative investors as part of a plan of dissolution for the parent company,‚ÄĚ Chase CEO Dave Freysinger told the¬†Corpus Christi Caller-Times.
Freysinger made it very clear who was responsible for the projects death. ‚ÄúThe (Las Brisas Energy Center) is a victim of EPA‚Äôs concerted effort to stifle solid-fuel energy facilities in the U.S., including EPA‚Äôs carbon-permitting requirements and EPA‚Äôs New Source Performance Standards for new power plants,‚ÄĚ he said.
The Las Brisas power plant had been part of a larger Las Brisas Energy Center project planned for Corpus Christi‚Äôs Inner Harbor.Economists had projected that in the first 5 years of construction and operation the project would create as 1,300 direct and 2,600 indirect jobs. Now none of those jobs will exist.
‚ÄúThese costly rules exceeded the bounds of EPA authority, incur tremendous costs, and produce no real benefits related to climate change,‚ÄĚ Freysinger commented.