Let's Not Forget Cap And Trade

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The Hill posted an article today on the cost of the Cap and Trade Bill.  According to the article:

"The National Association of Manufacturers (NAM) and the American Council for Capital Formation (ACCF) released a study Wednesday that found under a high-cost scenario the House global warming bill could reduce economic growth by 2.4 percent and cost 2 million jobs by 2030."

Even if you believe in the concept of man affecting the earth's climate, that is a very high price.  The biggest impact of the bill will be in the manufacturing segment of the economy.  Environmentalists have obviously objected to the numbers in the study.  Part of the difference in the cost is the environmentalists assumption that 95 new nuclear plants would be built by 2030.  NAM and ACCF assumed that only 10 to 25 nuclear plants would be built in the next two decades.   Currently, we are in a 30-year period in which very few new nuclear plants were built; since mid-2007, there have been 17 license applications to build 26 new nuclear reactors. 

Analyses by the EIA, Environmental Protection Agency and Congressional Budget Office can be found here, here and here.  

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This page contains a single entry by Granny G published on August 12, 2009 8:17 PM.

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