The People of America's Oil and Natural Gas Indusry

Another Forecast of Climate Bill Costs

Jane Van Ryan

Jane Van Ryan
Posted August 13, 2009

Yesterday, the National Association of Manufacturers (NAM) and the American Council for Capital Formation (ACCF) released a study--Economic Impact of the Waxman-Markey American Clean Energy and Security Act--that again demonstrates the significant costs associated with this House-approved legislation. The Senate will soon take up similar legislation that could have a profound impact on Americans' everyday lives, especially if it resembles this version.

The study found that under a high-cost scenario, the House bill could reduce economic growth by 2.4 percent and cost 2 million jobs by 2030. And though the impact of the bill will grow over time, the economy will start feeling the effects of the carbon cap almost immediately.

For more information, read the full study.

ABOUT THE AUTHOR

Jane Van Ryan was formerly senior communications manager and new media advisor at the American Petroleum Institute (API), where she wrote blog posts and produced podcasts and videos. Before coming to API, Jane managed communications for a large science and engineering corporation, and for a top-tier research and engineering university. A few years ago, you might have seen her in your living room when she delivered the news on television. Jane officially retired from API in 2011 and now freelances as an independent communications consultant when not gardening at her farm in Virginia.