Inhofe Takes to the Floor

Senator James Inhofe spoke before the US Senate for almost two hours about the human consequences of climate change mitigation policy last Friday, October 26. Here’s a sample:

Both the Energy Information Administration (EIA) and Wharton Econometric Forecasting Associates analyzed the costs of Kyoto when it was signed, and the costs were staggering. For instance, EIA found the annual cost would be up to $283 billion a year, and that's in 1992 constant dollars. Wharton put the cost even higher, at more than $300 billion annually, or more than $2,700 per family of four each year.

The estimated costs to comply with carbon legislative proposals in the U.S. would also be unreasonable. The NCEP approach would do nothing to lessen global warming even according to the alarmists, but according to EIA, it would still cost more than 118,000 American jobs simply to make a symbolic gesture.

And according to an MIT study, the Sanders-Boxer bill would cost energy sector consumers an amount equal to $4,500 per American family of four. The same study found the Lieberman-McCain bill would cost consumers $3,500 per family of four. Similarly, EIA found that it would have cost 1.3 million jobs. A new EPA analysis shows the Lieberman – McCain bill would cost up to half a trillion dollars by 2030 and $1.3 trillion by 2050.

Read the rest by clicking here, which will take you to Marc Morano’s invaluable EPW Web Log.