The National Association of Manufacturers (NAM) and the American Council for Capital Formation (ACCF) today unveiled a comprehensive study on the impact of The American Clean Energy and Security Act of 2009, also known as the Waxman-Markey Bill (HR 2454). The bill aims to reduce greenhouse gas emissions and to cap the amount of carbon that is emitted by U.S. industry. The legislation does so by mandating a cap and trade program and other provisions governing fuel choices available to businesses and consumers. This bill passed the House of Representatives by a slim margin (219-212) earlier this summer. The Senate is expected to release its version of climate legislation in September.
The study, which was commissioned by the NAM and ACCF and conducted by Science Applications International Corporation (SAIC) using NAM and ACCF input assumptions, assesses the impact of the Waxman-Markey Bill on manufacturing, jobs, energy prices and our overall economy. The NAM and ACCF released national data as well as the analysis for 15 industrial states that would be impacted greatly if this or similar legislation is signed into law.
Jay Timmons, executive vice president of the NAM said, “Climate change is a very complex issue
No, it isn't, Jay. It's very simple, and we have NOTHING to do with the cyclical changes that have been happening for eons and will continue to do so no matter how stupid we get.
and I hope Senators will look closely at this study as they consider climate change legislation this fall. At a time when our country is struggling to come out of our longest and deepest economic downturn since the Great Depression, lawmakers should be focused on policies that provide incentives for businesses so they can create jobs and grow. Unfortunately, this study confirms that the Waxman-Markey Bill is an ‘anti-jobs, anti-growth’ piece of legislation.
That's not a bug for the clowns pushing this, it's a feature.
Further, leaders of countries such as China and India have made it clear they have no intention of reducing their own emissions.
Why should they? We got ours, and now they want to get theirs.
Waxman-Markey would give an edge to overseas competitors, discouraging domestic investment and the creation of American jobs.”
As I said - feature, not bug.... >:-(
Additionally, the provisions of the stimulus package passed in February are included in this study. Key findings include:
-Cumulative Loss in Gross Domestic Product (GDP) up to $3.1 trillion (2012-2030)
-Employment losses up to 2.4 million jobs in 2030
-Residential electricity price increases up to 50 percent by 2030
-Gasoline price increases (per gallon) up 26 percent by 2030
The 15 states analyzed in the initial study include Arkansas, Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Missouri. North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia, & Wisconsin.