Press Release: Yet Another CBO Study Shows Small Costs of Clean Energy Legislation
Digital Combustion Simulation When researchers arrive at a particular after lots of experimentation they already have used up lots of resources in terms of money, man, material and time. Now scientists are trying to arrive at a result by simulating the experiments on computers and thus saving on lots of resources. A team of researchers from ETH [.]Posted in: Hydrogen Fuel, Inventions |
| South Atlantic Council Votes Unanimously to Explore Catch Shares By Eileen DoughertyWe know that Southeast fishermen and business owners arent happy with the long season closures in place for many popular snapper grouper species, but today marks a victory toward better management that will help move the fishery away from closures. Today the South Atlantic Fishery Management Council voted unanimously to explore a catch share amendment [.] |
| Live by the sword. If the climate-change bill becomes law, it will have a severe impact on the Texas economy, local officials say. A study commissioned by the state comptroller says 135,000 to 277,000 jobs could be lost in 2012, the year the legislation would take effect. |
| Press Release: Yet Another CBO Study Shows Small Costs of Clean Energy Legislation Contact: Tony Kreindler, 202-572-3378, akreindler@edf.org Sharyn Stein, 202-572-3396, sstein@edf.org(Washington, DC – September 18, 2009) The Congressional Budget Office (CBO) just released another report showing that the costs from clean energy legislation would be small – and could help America avoid the severe economic impacts of climate change.The report, titled “The Economic Effects of Legislation to Reduce Greenhouse-Gas Emissions,” is based on other previous analysis and can be found at akreindler@edf.org Sharyn Stein, 202-572-3396, sstein@edf.org(Washington, DC – September 18, 2009) The Congressional Budget Office (CBO) just released another report showing that the costs from clean energy legislation would be small – and could help America avoid the severe economic impacts of climate change.The report, titled “The Economic Effects of Legislation to Reduce Greenhouse-Gas Emissions,” is based on other previous analysis and can be found at http://www.cbo.gov/doc.cfm?index=10573. Here are some of the CBO’s main findings:• Without policies to reduce carbon pollution, climate change will have negative and possibly severe economic impacts on the United States.• With legislation including a cap on carbon pollution, the cost to consumers will be modest, and in line with previous independent estimates.• Low income families (the lowest 20-percent of households) would see purchasing power rise as a result of the House-passed clean energy bill, thanks to the allocation provisions. Higher income households would see a very small increase in costs.• The reduction in household purchasing power, taking into account compensation from the allocation provisions, would amount to 0.1-percent in 2012 and 0.8-percent in 2050, with an average of 0.4-percent over the period 2012-2050.• Nationally, the House legislation would reduce the U.S. gross domestic product (GDP) — relative to the no-policy scenario — by 0.2 to 0.7 percent in 2020; 0.4 to 1.1 percent in 2030; 0.7 to 2 percent in 2040; and 1.1 to 3.4 percent in 2050. At the same time, real GDP is projected to be roughly two and a half times greater in 2050 than today under either scenario. (Note that taking no action would also reduce GDP growth, perhaps to a much greater degree, because of the impacts of climate change.)• Annual U.S. economic growth between 2010 and 2050 would be reduced by 0.03 to 0.09 percentage points, relative to a business-as-usual growth rate of 2.4 percent. (Again, this “business as usual” estimate assumes a fictional world in which climate change does not occur.)An earlier CBO analysis of the House clean energy bill found it would cost the average American household about as much as a postage stamp per day. Other analyses by the Environmental Protection Agency and the Department of Energy found similar results. This is the fourth study to confirm the same conclusion – America can afford to pass legislation that will make us more energy independent and will help fight climate change. In fact, we can’t afford not to.###Environmental Defense Fund, a leading national nonprofit organization, represents more than 500,000 members. Since 1967, Environmental Defense Fund has linked science, economics, law and innovative private-sector partnerships to create breakthrough solutions to the most serious environmental problems. For more information, visit www.edf.org. |
| Green tech will help Canada stay competitive: Sask. premier. Canada and the United States need to invest in green technology in order to remain competitive, Saskatchewan Premier Brad Wall told a U.S. congressional delegation visiting Regina on Sunday. |