Specific proposals that several Western states would implement to comply with a proposed cap-and-trade carbon emissions control pact would destroy jobs and erode income, according to a report co-released by the Beacon Hill Institute (BHI) and the Washington Policy Center (WPC).

Reviewing the three cap-and-trade recommendations -- that consider "narrow" and "broad" market coverage and the use of offsets -- made by the Western Climate Initiative (WCI), the authors identified several flaws made by the seven-state consortium, consisting of Arizona, California, Montana, New Mexico, Oregon, Utah and Washington. Thus, calling into question the so-called cost savings of $11.4 billion to $23.5 billion heralded by WCI.

Under a scenario in which 25 percent of greenhouse gas emission permits would be auctioned off to emitters in a cap-and-trade scheme, BHI determined that the seven states:

Would lose between 35,177 to 165,397 private sector jobs, while the permit revenue would allow the states to hire up to 19,710 state employees.

Would put investment by firms at serious risk by slowing investment in the region by $1.6 billion to $4.5 billion.

Would diminish total personal income, which would fall by $10.2 billion to $47.71 billion per year.
Moreover, BHI found that none of the 7 WCI states would escape economic harm should cap-and-trade be imposed. Take Washington State for example. The state could lose:

18,292 net jobs.
$5.71 billion in personal income.
$302.54 in per capita disposable income.

The proposals' negative economic effects stem from the price and tax increases the states would impose on the energy and transportation sectors. Because a cap on carbon emissions is effectively a tax on energy production that is passed to industry, businesses and consumers, the effect is likely to drive commerce and jobs to other states or countries, says BHI.

Views: 64

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Less Prone commented on Doc Vega's blog post Was Sabotage or Terrorism used in the Collapse of the Francis Scott Key Bridge?
"Perfect for destroying the supply chain. It could well have been intentional."
11 hours ago
Less Prone favorited Doc Vega's blog post Was Sabotage or Terrorism used in the Collapse of the Francis Scott Key Bridge?
11 hours ago
Doc Vega posted blog posts
12 hours ago
rlionhearted_3 posted photos
15 hours ago
rlionhearted_3 favorited Doc Vega's photo
15 hours ago
tjdavis posted a video

Alabama’s Biggest Secret - Operation Paperclip 🇺🇸

In the north of Alabama is the city of Huntsville. It's here where German scientists built NASA in secrecy after World War II. Operation Paperclip is still s...
19 hours ago
tjdavis posted a photo
20 hours ago
Doc Vega commented on Doc Vega's blog post Americans You’re Being Squeezed Out!
"Cheeki kea always nice to her you chime in and you're damn right! "
yesterday
Doc Vega commented on Doc Vega's blog post Americans You’re Being Squeezed Out!
"Les Prone thanks for your support Dude! "
yesterday
Doc Vega posted a photo

The inconvenient truth

Trump spells it out!
yesterday
Sandy posted a photo
Wednesday
Less Prone favorited Doc Vega's blog post What Made the Founding Fathers of America so Brilliant?
Tuesday
Less Prone commented on Doc Vega's blog post Why didn't the Archeological World Announce Proof that Jesus Lived?
"Motives of Joe, to shit in the well by showing totally irrelevant proof?"
Tuesday
Doc Vega commented on Doc Vega's blog post Why didn't the Archeological World Announce Proof that Jesus Lived?
"Less, Motives of Wyatt or Joe? What archeologist wouldn't want proof of Jesus as part of his…"
Tuesday
Doc Vega commented on Doc Vega's blog post Why didn't the Archeological World Announce Proof that Jesus Lived?
"Less Prone, Considering Joe Rogan to be the gatekeeper of anything is just short of ridiculous the…"
Tuesday
Doc Vega posted a blog post
Tuesday
MAC posted a video

Don't Go To Hong Kong Now (Even on Connecting Flights)

Secure your privacy with Surfshark! Enter coupon code laowhy86 for an extra 3 months free at https://Surfshark.deals/laowhy86Article 23 in Hong Kong is real,...
Tuesday
cheeki kea commented on cheeki kea's video
Thumbnail

Terrorist Attack on Moscow - Ukraine Committing Suicide? | Larry C. Johnson

"...And I guess I'll just park this you tube here also for something to ponder from last year.…"
Tuesday
tjdavis posted photos
Tuesday
Less Prone posted a video

Climate: The Movie (The Cold Truth) NL

Deze nieuwe documentaire van de Britse filmmaker Martin Durkin toont aan dat klimaatalarm een verzonnen doembeeld is zonder enige wetenschappelijke basis. He...
Monday

© 2024   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted