US EPA Sees Little Economic Impact from CO2 Cuts
http://www.planetark.com/dailynewsstory.cfm/newsid/43285/story.htm
http://www.planetark.com/dailynewsstory.cfm/newsid/43285/story.htm
Lieberman also said the EPA analysis found that his plan would hold US carbon dioxide levels below 500 parts per million by the end of the century, a key level that international scientists say will allay the worst global warming impacts.
The EPA analysis also found that US gasoline prices would rise by 26 cents a gallon in 2030 and 68 cents a gallon by 2050, and electricity and natural gas prices would rise slightly.
Cap-and-trade regimes envisioned in many legislative proposals in Congress would create a multi billion-dollar market for trading emissions credits.
If the McCain-Lieberman bill is enacted, the EPA found the market for credits and offsets would be US$25 billion in 2030 and US$57 billion in 2050.
Haase Comments: I am not sure where this "analysis" is getting numbers.... a simple inflation model will put the price of gas nearly double that with just cost of living increases???
I can also prove with very solid data, electricity and natural gas prices will also double in the same time frames (2030).
Hey maybe the "analyst" should try a inflation calculator. www.westegg.com/inflation
Simple math: In 23 years (2030) $3 dollar a gallon gas will be $6 (Double) and by 2050 a gallon of gas should be $19.
I am not sure why they are minimizing the cost of environmental protection or the MASSIVE impact of what our energy demands will cost the U.S. in just ten years.
My guess is that a lot of people are planning to line pockets on the $25-50 BILLION dollar Cap-and-trading racket.
After this report, I hardly think I would let the this EPA analyst run my 401k.
While there is currently enough federal funding is in place to resolve that vast majority of Environmental problems in the U.S. .... I have know idea how bad the energy wars will get, but it will be much worse that the 70's and at a minimum quadruple our current energy costs by 2020.
I would bet my 401k on that ;-)