Bush Administration Quietly Acknowledges Climate Security Act is Doable
March 21st, 2008
You may not have caught the economic analysis of the Lieberman-Warner Climate Security Act issued by the Environmental Protection Agency last Friday. The administration quietly released the report just before the weekend, but the results speak loudly, showing we can both tackle global warming and grow America’s economy.
The EPA analyzed the bipartisan global warming bill that is headed for a Senate debate in the coming months. According to EPA’s analysis, the U.S. economy would grow by 80 percent through the year 2030 after enactment of the Climate Security Act. That is less than one-half of one percent difference from projected growth without a bill.
It’s important to note that even these modest results don’t tell the whole story. The analysis fails to measure the important economic boom expected from the bill’s aggressive investment in clean energy jobs. In 2006, the renewable energy and energy efficiency industries generated 8 million jobs in America and nearly one trillion dollars in revenue. That’s a good start, but it is time for America to unleash the full economic power of a clean energy future.
It’s not surprising that the Bush administration took steps to disguise the fundamental conclusion that the Lieberman-Warner climate plan is doable and protects our economy. As E&E News reported on Tuesday, “James Connaughton, the chairman of the White House Council on Environmental Quality, cited EPA’s worst-case modeling projections for the bill from Sens. Joe Lieberman (I-Conn.) and John Warner (R-Va.).”
Those “worst-case” scenarios include the unbelievable assumptions that:
· American business will essentially stop innovating when it comes to low-carbon technologies, even though climate legislation would create an unprecedented incentive for clean and efficient energy technologies.
· Improvements in energy efficiency will slow to a trickle.
· An imaginary natural gas cartel, similar to OPEC, will spring up out of nowhere.
It’s a bit startling to see how pessimistic Mr. Connaughton has become in selectively choosing the scenarios to highlight. Does the administration really believe that American industry is unable to innovate and find ways to protect our environment while growing our economy?
The National Wildlife Federation believes that legislation with the basic framework of the Climate Security Act’s cap-and-trade system will serve as the opening of a new frontier. America’s innovators will seize on the opportunity to produce clean, efficient technologies. They will do it not just because it’s the right thing to do, but because it makes good business sense once a federal cap-and-trade program is in place. We look forward to the upcoming Senate floor debate on the Lieberman-Warner bill, and we will work to make the bill even stronger - for our environment and our future clean energy economy.
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