Posted: 09/30/2009
Reasonable Responses to Climate Change
New NCPA Study Examines Policies that Effectively Address Climate Change
Dallas (September 30, 2009) - The cap-and-trade bill that Senators Barbara Boxer and John Kerry are slated to introduce today could cost taxpayers more than $1,761 per family annually and will not reduce global warming temperatures anymore than one-tenth of a degree by 2050, according to a study released today by the National Center for Policy Analysis.
"The bill will do nothing to effectively address global warming, will cause more harm than it prevents, and will impose enormous costs on American families," said H. Sterling Burnett, Senior Fellow with the National Center for Policy Analysis and author of the study.
For example, the study concludes that:
- Cap-and-trade would cost an average of $314 billion a year in lost GDP or $9.4 trillion over the period from 2012 to 2035.
- It would increase the cost of residential electricity 31 percent to 50 percent by 2030
- Job losses would total 2.5 million by 2030
"Climate change is mainly projected to add to existing problems, rather than create new ones," Burnett said. "No-regrets policies that provide benefits beyond their effects on climate as well as policies that help us to adapt to future climate change should be implemented."
The new NCPA study examines several policies that would reduce greenhouse gas emissions, reduce America's dependence on foreign oil and reduce energy prices for consumers.
These "no-regrets" policies include:
- Eliminating fuel subsidies
- Reducing regulatory barriers to building new nuclear power plants.
- Encouraging breakthroughs in new technology by fostering competition
"Taken together, these policies could do a great deal to minimize the risks of global warming while at the same time promoting economic growth and global development, not to mention providing sustainable financial support for Americans and their families," Burnett said.
To read the full study, "Reasonable Responses to Climate Change," log on to http://www.ncpa.org/pdfs/st324.pdf. To arrange an interview with H. Sterling Burnett, contact Leah Gipson.