President Obama formally unveiled his plan to reduce carbon emissions from power plants yesterday. He has spent the last 2 years working on this plan and states, "The single most important step that America has ever made in the fight against global climate change."
The plan will put the EPA in charge of regulating carbon emissions from power plants and aims to cut carbon emissions by 32% below 2005 levels by 2030. Power plants are the largest source of carbon emissions in the United States. The plan also try to increase renewable energy production as well.
Critics of this plan are not thrilled, with some people calling the new regulations down right illegal and will raise the costs of electricity. Obama, however, states that these new regulations will save the average consumer $85 per year on their electric bill.