On October 21, 2016 the Institute for 21st Century Energy of the U.S. Chamber of Commerce released the third report in its Energy Accountability Series. The latest report is entitled, "What If… the United States Was Forced to Pay EU Prices?"
Any economist will tell you that the most effective way to curb a certain “unwanted” societal behavior is to make that behavior cost-prohibitive. Far too many politicians and activists in the U.S. look at European energy prices with envy. They also covet nearsighted European energy policies that have been enacted, all too often in pursuit of political goals with no environmental benefit and significant economic costs.
U.S. energy abundance has brought prices lower and lower, which in turn has encouraged significant investment in new American manufacturing. Conversely, we’ve seen the impacts felt in Europe after a decade of experimental policy to make energy more expensive and less accessible. In this new installment of our Energy Accountability Series, we look at a world where these extremists get their way in an effort to answer the question, What If… the United States was Forced to Pay EU Energy Prices? The results are staggering…significantly raising the prices of energy and goods for every American household and business, creating a huge drag on an already under-performing economy. Such a drastic turn for hobble American competitiveness and squander the tremendous advantage the recent renaissance has provided.
As with the first two reports, there are national numbers and state specific information for Colorado and others. We focused on how higher energy costs will hurt jobs, the economy, and manufacturing as well as people on fixed incomes. You can find the Colorado specific numbers on the state fact sheet.