EPA Analysis Finds Climate Security Act Could Cut GHG Emissions 25% Below 1990 Levels By 2050 at a Cost of 0.06 to 0.16 Percentage Points of GDP per Year; Transportation Contributes Little
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| Sources of GHG abatement under EPA's ADAGE modeling. Click to enlarge. |
An analysis by the US Environmental Protection Agency (EPA) of the Lieberman-Warner Climate Security Act (S. 2191) currently pending before the full Senate concluded that under the act total US greenhouse gas (GHG) emissions are approximately 40% lower (~ 3,749 MtCO2e) than reference case emissions in 2030 (~11% below 1990 levels) and 56% lower (~ 6,030 MtCO2e) in 2050 (~25% below 1990 levels).
These reductions would be achieved at a projected cost to GDP of between 0.9% ($238 billion) and 3.8% ($983 billion) lower in 2030 and between 2.4% ($1,012 billion) and 6.9% ($2,856 billion) lower in 2050 than in the Reference Scenario. That works out to a cost of about 0.06 to 0.16 percentage points per year from 2010 to 2050.
