Jane Van Ryan
Posted August 17, 2009
As the Senate will soon debate its version of a climate change bill, last Friday, a CRA International analysis of the "American Clean Energy and Security Act"--which passed by a narrow 219-212 House vote in June--reveals the devastating impact the legislation would have on Texans.
The API-commissioned study finds that as many as 341,000 Texas jobs would be wiped out and the average Texas household would see its purchasing power drop by as much as $1,790 a year if the House-approved climate bill becomes law. Texas is the nation's leader in crude oil and natural gas production and refining capacity, and vital to our ability to produce and deliver energy resources for millions of Americans.
The United States would also feel the effects of the bill with 2 million job losses nationwide and a 1.3 percent decline in the national gross domestic product in 2030. The average U.S. household would see its purchasing power fall by $910 in 2015 and by $1,170 by 2030.
For more information, read the full study.
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