NCPA TO RELEASE FIRST MAJOR INDEPENDENT STUDY ON THE POTENTIAL COSTS OF THE GLOBAL WARMING ACCORD


Dallas (May 17, 1999) - The United States would have to cut its energy use by one-quarter - the equivalent of stopping all highway, rail, sea and air traffic permanently - to meet the requirements of the Kyoto global warming accord, according to a new study set to be released by the National Center for Policy Analysis.

Global Warming Policy: Some Economic Implications, set to be released Wednesday, May 19th at the National Press Club, represents the first cost-benefit analysis of the controversial international accord, from a truly independent economist - independent from government and industry! The study says, the economic costs of compliance with the accord could be as much as seven times greater than any environmental benefits.

WHO: The Honorable Jim Barcia

Stephen Brown, Federal Reserve Bank of Dallas

National Center for Policy Analysis

Other speakers to be determined

WHAT: Press Conference to release

Global Warming Policy: Some Economic Implications

WHEN: 9:30 A.M.
Wednesday, May 19, 1999

WHERE: Zenger Room

National Press Club

Washington, D.C.

The 1997 accord, which has yet to be ratified by any industrialized nation, would require the United States by 2012 to cut emissions of carbon dioxide (CO2) to 7 percent below 1990 levels. This would be done by reducing the use of fossil fuels such as oil, natural gas and coal.