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.

1 minute read

May 23, 2010, 7:00 AM PDT

By Irvin Dawid


"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

Thursday, May 20, 2010 in Greenwire via The New York Times - Energy & Environment

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Get top-rated, practical training

The Seat of Government

Good Planning Under Bad Leadership

Planners must sometimes work under bad leadership. Here are suggestions for responsive planning in challenging political environments.

February 3, 2025 - Todd Litman

Amtrak train with downtown Seattle in background.

Amtrak Cascades Line Breaks Ridership Record

The route linking Portland, Seattle, and Vancouver, BC served nearly one million riders in 2024.

February 2, 2025 - Daily Hive

Close-up of Donald Shoup during interview.

Legendary Parking Guru Donald Shoup Dies at 86

Urbanists are mourning the loss of a dynamic voice for parking reform and walkable cities.

February 10, 2025 - StreetsBlog NYC

Top floors of blue and white apartment building with palm trees against sunny blue sky in Malibu, California.

LA County Leaders Seek to Increase Penalties for Rent Gouging

Landlords who raise rents sharply after disasters could face fines of up to $50,000.

February 11 - Los Angeles Times

Man and two children on bikes next to red and silver train on sunny day.

How ‘Anti-DEI’ Efforts Impact Sustainable Transportation Studies

Research into accessibility, transit equity, and traffic safety is losing federal funding at an alarming rate.

February 11 - Streetsblog USA

Man sitting in chair along River Seine in Paris with fishing pole.

River Seine ‘Teeming’ With Life

Decades of restoration efforts are yielding positive results as dozens of species of fish return to the once-polluted waterway.

February 11 - Reasons to Be Cheerful

Urban Design for Planners 1: Software Tools

This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.

Planning for Universal Design

Learn the tools for implementing Universal Design in planning regulations.