Taking the full cost of wind and other renewables into account, the Heritage Foundation’s Center for Data Analysis has found that an RES would: 1) raise electricity prices by 36 percent for households and 60 percent for industry; 2) cut national income (GDP) by $5.2 trillion between 2012 and 2035; 3) cut national income by $2,400 per year for a family of four; 4) reduce employment by more than 1,000,000 jobs; and 5) add more than $10,000 to a family of four’s share of the national debt by 2035.
And that is just the “cap” half of President Obama’s Cap and Ban approach. The first Obama oil drilling ban already caused some oil rigs to leave U.S. waters entirely.
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