The People of America's Oil and Natural Gas Indusry

NC Jobs in Jeopardy

Jane Van Ryan

Jane Van Ryan
Posted August 20, 2009

As Energy Citizens are preparing to rally in North Carolina, a new study shows that as many as 87,000 jobs could be wiped out in the state if the House-passed climate bill becomes law. The study also projects that the average North Carolina household would see its purchasing power fall by as much as $840 a year, and the state domestic product would fall by 1.6 percent. The impact on the state's economy could be devastating as tax revenues shrink, taking away much-needed funds for schools, police and fire departments, and hospitals.

The study by CRA International analyzes the impact of the Waxman-Markey climate bill, which was narrowly approved by the House of Representatives in June. This fall the Senate will debate its version of a climate bill.

CRA International's findings also indicate that the legislation could eliminate 2 million jobs nationwide and lead to a 1.3 percent decline in the Gross Domestic Product (GDP) in 2030. By that year, the average U.S. household would lose $1,170 in its purchasing power.

CRA International is a global consulting firm. API commissioned the CRA International study. More information about the study is available here.