A new study by NAM and ACCF projects the costs to consumers of the Leiberman-Warner cap and trade bill (S. 2191). Using the Department of Energy model and realistic estimates of the number of new nuclear power plants that could be built [approximately 10 plants (10GW) by 2030 in their High Cost Scenario and 25 plants in their Low Cost Scenario—in contrast, EIA projected 145GW new capacity, even though there hasn’t been a new reactor built since 1978], the well-respected Science Applications International Corporation (SAIC) came up with these impacts on American consumers:
Job Losses: Between 1.2 and 1.8 million jobs lost by 2020; between 3 and 4 million lost by 2030
Disposable income decrease per household: Between $739 to $2,927 per year by 2020; between $4,022 to $6,752 by 2030
Gasoline price increase: Between 60% to 144% by 2030
Electricity price increase: Between 77% to 129% by 2030
Natural gas price increase: Between 84% to 146% by 2030
Reduced Gross Domestic Product: Between 0.8 percent and 1.1 percent off the gross domestic product in 2020 ($151 billion to $210 billion) and between 2.6 percent and 2.7 percent by 2030 ($630 billion to $669 billion).
Low income families will spend between 19% and 22% of their income on energy, compared to a projected 17% spent on energy without Leiberman-Warner.
If you’d like to know how Leiberman -Warner will affect your specific state, click here.
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