Comments on: NBCC/CRA study estimates Waxman-Markey would reduce employment by 2.3 million jobs in 2015 http://www.globalwarming.org/2009/05/21/nbcccra-study-estimates-waxman-markey-would-reduce-employment-by-23-million-jobs-in-2015/ Climate Change News & Analysis Wed, 12 Dec 2012 14:44:39 +0000 hourly 1 http://wordpress.org/?v= By: Dan Fernandeshttp://www.globalwarming.org/2009/05/21/nbcccra-study-estimates-waxman-markey-would-reduce-employment-by-23-million-jobs-in-2015/comment-page-1/#comment-27633 Dan Fernandes Sat, 23 May 2009 22:25:15 +0000 http://www.openmarket.org/?p=13760#comment-27633 The National Black Chamber of Commerce impact estimates are far too small. The more likely impact is quite simple to estimate. We currently spend about 12% of GNP on energy, mostly from fossil fuels. Green energy (mostly solar) is about five times as expensive as current sources, so we will be spending 60% of GNP on energy once we make the conversion. That’s an extra 48% of GNP that will be sucked up by green energy. You will see the result as higher prices for all things made using energy, which includes just about everything. But that’s just a minimum impact estimate! Add to that the economic disruption that will be created by the huge energy tax (cap and trade), and the added government control of the economy that will be necessary to make the transition. Now you are looking at real sacrifice! The Soviet Union economy was 80% waste, and we may approach that situation under carbon rationing. The National Black Chamber of Commerce impact estimates are far too small. The more likely impact is quite simple to estimate. We currently spend about 12% of GNP on energy, mostly from fossil fuels. Green energy (mostly solar) is about five times as expensive as current sources, so we will be spending 60% of GNP on energy once we make the conversion. That’s an extra 48% of GNP that will be sucked up by green energy. You will see the result as higher prices for all things made using energy, which includes just about everything.

But that’s just a minimum impact estimate! Add to that the economic disruption that will be created by the huge energy tax (cap and trade), and the added government control of the economy that will be necessary to make the transition. Now you are looking at real sacrifice! The Soviet Union economy was 80% waste, and we may approach that situation under carbon rationing.

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