Report: Senate Climate Legislation Good For Economy

In the first major study of how the Senate climate legislation would affect the economy, a non-partisan think tank indicated it would create new jobs and reduce American reliance on oil and coal while increasing usage of both nuclear and renewables.

"Cap & Trade" has been labeled by opponents as a 'job killer', yet the Peterson study clearly shows that the American Power Act, introduced by Senators Kerry and Lieberman that uses this carbon-pricing strategy, would create jobs.

"The Peterson Institute for International Economics said in its 18-page report that the bill from Sens. John Kerry (D-Mass.) and Joe Lieberman (I-Conn.) creates the new jobs between 2011 and 2020 because of its mandatory limits on greenhouse gases, which will prompt $41.1 billion in investments per year as the nation shifts away from traditional fossil fuels like coal and oil and toward new nuclear power and renewables."

The bill would "prompt a significant reshuffle in U.S. energy supplies...For starters, fossil fuels would fall from 84 percent of the current U.S. energy supply down to 70 percent in 2030. By contrast, renewables and nuclear energy would soar by 2030 from their current 8 percent rates for U.S. energy consumption, to 14 percent and 16 percent, respectively."

"The Peterson Institute study marks the first comprehensive review of the Senate proposal since its release last week."

Thanks to Greenwire

Full Story: Study: Kerry-Lieberman Climate Bill Would Prompt Decade of Job Growth

Comments

Comments

The Jobs Created Will Bleed the Middle & Lower Classes

Simple Math from Chicago, IL USA :If I paid $200.00 a month for Electric + $135 Budget (Natural Gas) in January 2010 That's $335. Maybe my $132.00 (40% hike) will pay for some new Gov't desk jobs, but I will be buying less durable goods at Wal-Mart, and eating more McDonalds $1 burgers and Bologna sandwiches that will drive up my demand on the ObamaCare Health System. Why not just let supply-side Capitalism work like it had for the last 200 years. The word is out that Global Warming is a hoax, the proff is that Al Gore & his cronies refuse to debate in a public forum!

Jobs created.

Why not just let supply-side Capitalism work like it had for the last 200 years. The word is out that [globul warmin's a scay-um!], the [proof] is that Al Gore & his cronies refuse to debate in a public forum!

Silly long-ago refuted talking points notwithstanding, free markets cannot procure ecosystem services, which are non-rival and non-excludable. Basic, first semester stuff.

Best,

D

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