Recent comments by former Sen. Rick Santorum, a Republican running for president, alleged that environmental regulations on behalf of President Barack Obama’s administration are choking the economy and killing jobs.
“Under the Bush and Clinton administrations, they averaged 60 regulations, over $100 million a year. This administration hit 150 last year,” Santorum said recently. “You want to know what’s crushing business? This administration is crushing business.”
Asked by Cramer for his thoughts, American Electric Power CEO Nick Akins agreed with Santorum’s comments. Akins is calling for a regulatory approach that is “sound, reasonable and consistent.” He might even include a greater review process before regulations are put into place, but didn’t elaborate.
If changes aren’t made to regulations, Akins said consumers and companies will continue to take the hit. One solution would be putting into place a comprehensive energy plan.
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