Will EPA Regulations Chill Economic Recovery?
Gas, heating oil prices heading up
- Duration 7:40
- Date Dec 31, 2011
Gas, heating oil prices heading up
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Hold onto your wallet in 2012 as the new year gets ready to ring and that gas prices are heading.
Up along with the cost heat your home.
And someone -- says you can thank all the -- EPA rules that are kick NN.
So -- more to come in the new year well it put a chill on any chance for recovery in 2012.
However what I -- Cheryl Casone welcome that passionate.
Our cash and -- crew this week Wayne Rogers Tracy Byrnes.
Very well bound and David Mercer so welcome to all of you intrinsic to start with you on this one minutes and very -- -- think the EPA.
And these new rules are gonna make it harder for the economy -- actually recovered 2012 which we need to.
Let's check any time the government imposes new rules or regulations it costs businesses money and as a result that gets passed on us we're already seeing refineries shut down.
And now we're heading into the winter season -- already going up gas is going up it is just going to continue to get worse.
When these rules kick in you know at 60% -- -- these plants that are could be affected.
I have bought RD completed.
These these restoration issues -- is it the coal fire plants so a lot of these plans of -- kind of come on line and made the changes.
Do you think that we do get a 40% of economies this offer.
It's not so much what the afforded this is gonna suffer not a mean the fact of the matter is that people have already comply that is that is to -- -- it in a free market system you believe in a level playing field.
If I've already spent the money and I'm part of that 60% authority complied with these rules.
Why should my competitive be allowed to escape from -- but complying with those rules everybody should comply with the rules or no -- should now.
The fact of the matter is -- -- -- rules every now and then I mean every year every four years three -- four years they come -- and something stricter and stricter so it cost the industry a little more money.
But if you're complying already -- many people are the rest should comply.
Well David the reason I bring up to wait how to bring -- up to you about about coal fire plant potentially closing down as were starting to see that already.
-- Phillips and cynical artists and they're probably gonna be shutting down three.
Different plants here in the northeast that can affect heating oil prices and that could affect the economy overall for the northeast -- but that's a fair argument against the EPA's new rules.
It may to have something to do with it but there are a lot of other factors is the global.
Energy market that dictates price is this competition among the pipelines and refineries.
-- so there are a host of factors.
But what's important here with the EPA.
Is that they have.
In their studies in their research and in there watchdog capacity have the -- other additional cost whether it's 111000.
On you know that are dying premature birth or.
As my tax a 100000 kids or children suffering from acute asthma.
You know those -- cost that.
You know our country is bearing.
And they are saying let's have preventative medicine which is cheaper.
Then waiting until this gets to crisis proportions and everybody suffers and higher cost so it's saying let's retrofit these plants so we can avoid those deaths and not to see him as collateral damage.
In -- -- thank you mention is very day he mentions the issue of costs of but the cost of about nine point six billion dollars.
Annually is that it is the expenditure worth it to maybe clean up the environment at the potential lost to -- On a recovery for -- point well.
Well first off the nine point six is an estimate we know when government estimates something just go about three or four or five times higher.
-- -- on for the environment -- but here's the way I look at business is already done a great job throughout the last few decades.
I don't think they need the EPA which has a whip out and -- -- really know what trying to make them move faster you know you've got to us they emissions -- 96%.
Over the last two decades sulfur and nitrogen jet engine down 50%.
Businesses -- get the job done my disable it leave well enough alone.
They'll get the job done you don't you have to be -- part of the EPA should be a partner -- -- not be the task -- and that's what they're doing right.
-- -- again goes back to cost -- the issue goes back because Edison electric says this is the most expensive role in EPA.
They're gonna companies the power companies -- -- the keep the lights on across the country they're concerned about the cost of this somewhere if you're -- it.
No I I understand all of them but I'm I'm saying that you can't ask for people some people though by a law that other people not to you're gonna say okay I would have a rule a law against Marta.
-- you can go admired of people the other people can't I mean that's insanity so you can't -- these people to spend.
All the money -- I five complied already and I've taken it out of my budget and I've already complied with the law.
Why should this other guy over -- -- be allowed to get away without complying with the let us not the income right now.
Wait a -- the economic questions the economic question here is if the involving money.
It's all by the way.
Anybody who does this is gonna be good for the cut cut of the economy in God's gonna create jobs if you have to do all of these things -- all of these people have to do this work that going to be employed.
That's so I got to speak up at my boys are not here.
If money was here he would say the capitalistic system would pull this through and pull it off on their on the consumer would demand higher standards and as a result.
This Smart entrepreneurs and business men of the world would do it and Layfield would be sitting here saying we don't have a national energy policy and our security is that risk.
Because David you said there are global pressures they keep pushing oil prices high we should not be a position we we -- where we are subject to do that ever on a daily.
Look at that end to that -- on that plane they are.
There are yeah response look -- they yeah if I might today.
You know on a global scale we pay the cheapest energy cost anybody try and fill their tank in Europe will find almost double the prices or a hundred dollars and tackle tank.
It at whatever it may be nonetheless we are paying very cheap let cost of energy relative to the rest of the world we might as well also.
-- attribute some of that.
Sham being relied completely Zito you say they are pricey thrill -- that by using increases justifiable because we pay less than the rest of the world.
-- -- -- -- -- -- -- -- -- -- -- -- -- What's justifiable in the cost is saving lives and preventing health care crises that can emerge from this just like we -- with the BP oil spill if we have prevented that can take a preventative measures.
We would not have had a ripple effect throughout the well.
I was in this day and be sure you can Obama do it now measures without.
You know spike -- in too much higher costs.
Okay all right let -- know I'm Elaine Rogers might resonate you're trying to get in weighing wanted to definite us.
Well I guess what is that a trick CME and putting aside what John and Jonathan might say I mean the clear -- an air act was passed over twenty doesn't often got thank if you can't -- -- -- -- -- -- asking you to.
All of a sudden do this overnight they'd had plenty of time to -- -- and 60% of the people in the country have done it the rest should do it.
All right -- -- Luck Layfield -- and on here called bomb is and I look at a couple of things number one another goal look at the price of -- stocks over the last year.
With attack on the coal industry they are down forty to 50%.
The coal industry is heading into shambles because too many rules and regulations and an agenda to go to -- Green energy thing that may or may not work.
Of my issue is just the overarching be overreaching that never stopping.
The rule a day that keeps coming out of the PA I -- a good marriage between the EPA in business is not what we're seeing right now are American business that works that would be night's alright guys thanks to all of.