The Brookings Institution released their own analysis of analysis on the costs of cap and trade yesterday. Unlike Heritage’s recent Center for Data Analysis study, the Brookings effort does not analyze any particular bill, but does look at the economic costs of four policy scenarios. Their conclusions:
Welfare effects
- Loss in Personal Consumption of $1 to $2 trillion present value
- Incremental stringency produces high incremental cost, e.g. extra 8 % reduction increases costs 45%
- US GDP in 2050 lower by 2.5%
Employment effect
- -0.5% at peak in first decade
This Brookings study confirms what the EPA, IPCC, RFF, MIT, and The Heritage Foundation have all already reported: carbon cap and trade is a jobs and GDP killer.
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I am a 3rd generation Coal Miner. My power bill here in WV is only $0.07.4 cents a Killowatt hour which is the 2nd lowest in the USA. Cap and Trade will devastate WV all of our senior citizens living on fixed incomes. I agree with Ronald Reagan; government is the problem. I am asking the Government to please stay away from WV, we don't need you.
Cap and Trade only works if it is across the Board, which it has never been and never will be!
Hozro
If the goal of Cap and Trade is to reduce green house gas emissions for global warming purposes, then I would say the government is being disingenuous. I say this because they they are not seriously considering nuclear power as a major new source of energy. Nuclear is the only way of producing a significant enough amount of, "green house gas friendly", energy that we could then consider reducing coal fired energy production.
I do not believe the government is actually interested in Global Warming. They just see it as a means to an end of increasing the federal government's power.
Not to worry, Mr. Obama has plans to "save or create" millions of new jobs, 600,000 by this summer.
What he didn't say is that all of those saved and created jobs will be in the Federal government.
IN 2010 I WILL VOTE NO INCUMBENTS
We own a small manufacturing company in Michigan, employing 30 people. If cap and trade increases utility bills by 50% as predicted, that would be equivalent to 2 whole jobs at our company (in the winter months). Since we operate largely at break-even, we would be forced to let 2 people go in order to pay the higher energy costs. We are just one small example. What would the impact be over ALL small businesses?
Obama has already told us that costs (taxes?) will skyrocket. When I saw him announcing the closing of coal fields in WV and threatening any further construction of power plants during his drive for office I was appalled. His plans are to destroy all energy production that truly keeps our country productive. (I find too many friends who do not know what I'm talking about. Frightening!!)
This is disgusting, Mr President. Perhaps you could go with the facts and the positive solutions.
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I have to say that I am just SICK AND TIRED of all Government but I am mostley let down by Obama's Administration. Change we can believe in would be the opposite of what they are doing with this Cap and Trade program and I am just glad that they don't have the easy 60…My Right Wing friends were right…An ignorant Republican is better than an educated Democrat…