Reuters – August 6, 2007
How much does it cost to save the planet? According to Energy Information Administration the current bill to reduce the carbon footprint of the US would cost the US economy $533B. Is that too much?
I rarely trust these numbers as they always seem to be wrong. When have you ever heard of a study like this being correct? I think the models for economic prediction are almost as bad as the models to predict the climate!
Also, the article states that gasoline prices will only be 23 cents higher in 2020 than 2009. That would be a bargain compared to the steep increase in gasoline in the last 3 years! Statements like this only make me question the authenticity of the study.
I also question that this is enough. What will this do for our economy (read this scary prediction). Al Gore has asked for a 90% reduction. If we need 90% then why are we trying for 60%? If we don’t need to get to 90%, is 50% okay? How about 40%? Will 30% do the trick? I repeat my call for a ton of money to be spent on climate science to really model this out and then lets do exactly what we need to do – if anything.
A Senate bill to cut U.S. greenhouse gas emissions would raise energy prices and also reduce American economic output by more than half a trillion dollars over two decades, according to a government report released on Monday.
One proposal, introduced by Sens. Joseph Lieberman and John McCain, would gradually reduce total U.S. emissions by the year 2050 to 60 percent below 1990 levels.
However, the proposal would cut into the U.S. economy and raise gasoline and other energy prices paid by consumers, according to an analysis of the legislation by the Energy Information Administration.
The EIA said the fuel price increases would not be large enough “to create dramatic shifts in consumer behavior,” but there would be more demand for fuel efficient vehicles.
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