Viewing blog posts written by Jack Stewart

Report says carbon reductions will cost $100 to $500 billion

Posted by Jack Stewart, on July 17, 2007

An Electric Power Research Institute technical analysis released in June on the costs and potential of greenhouse gas reductions indicates a substantial price to California consumers and businesses.  For some reason these finding were not reported anywhere in the mainstream press when the analysis was first released.  A key finding was that, to reduce the State's greenhouse gas emissions to levels mandated by AB 32, it will cost California's economy between $100 and $500 billion through 2050.

Here's an excerpt from the press release:

"Depending on how California implements its climate legislation, cumulative real costs to the state’s economy range from 0.2 percent to 1.2 percent ($100 billion to $511 billion) through 2050. In general, costs increase as limits on California’s future greenhouse gas become more stringent, the report says."

Reaching the environmental and economic goals of AB 32 will be a challenge for consumers, employees and employers in California.  It is vital that we minimize costs through rational regulations and a cap and trade system that encourages businesses to achieve least cost reductions. Without low cost alternatives, California businesses will be less competitive in global markets, consumers will have fewer choices to buy California-made products, and emissions will rise in other states and countries where products can be made cheaper. No environmental purpose will be met by that strategy.

Tags: AB 32

0 comments | Post your comment

Comments: 0

Post a comment:

E-mail address: required, but will be kept private

Name or nickname: will display on page

Post your comment here:

This helps us eliminate spam.

Copyright © 2020, California Manufacturers & Technology Association. All rights reserved.