The Center for American Progress has a nice analysis of the history of incorrect predictions by the utility industry, which invariably overestimate the cost of environment regulations. Daniel J. Weiss and Nick Kong, in an article titled, “Fool Me Twice, Shame on Me,” which begins:
Recent studies by the National Association of Manufacturers, the Chamber of Commerce, and the National Mining Association are predicting a rate increase for electricity if the Lieberman-Warner Climate Security Act (S. 2191) becomes law. These studies–just like others we have seen in the past on acid rain legislation and other bills that address pressing environmental issues–are meant to spark fear in the hearts of legislators and paralyze them with worries about an angry public blaming them for skyrocketing electricity prices and other ills.
These types of predictions have been proven wrong time and time again. Public officials should ignore the rerun of these scare tactics.
You’ll want to read the whole article to catch the terrific table that shows how electricity rates have dropped substantially since 1990, even though the industry had predicted the Clean Air Act would increase rates.
- Wrong Again 2: Delayers cry wolf with same old Garbage In, Garbage Out economic model
- Wrong Again 1: Business Attacks Climate Security Act