Jeffords' "Multi-Pollutant" Bill to Combat Global Warming
November 6, 2001
A Senate hearing was held October 31, 2001, discussing S. 556, the air pollution legislation of Senator Jim Jeffords (I-Vt.), which would force cuts of nitrogen oxides, sulfur dioxide, mercury and carbon dioxide emissions from power plants.
It would also cut billions of dollars in future Gross Domestic Product (GDP) and cost a million jobs, according to witnesses.
- The Environmental Protection Agency forecast that the bill would raise electricity prices in 2015 by 32 percent to 50 percent, and EPA's acting director testified it would cause natural gas prices to increase 20 percent by 2020.
- It would cause coal-fired electricity generation to decrease between 25 and 35 percent.
- The Energy Information Administration (EIA) concludes that, under this legislation, the Gross Domestic Product would be reduced by .8 percent in 2007 or about $100 billion with a loss of about one million jobs.
How much global warming "gain" would we receive from this proposal? According to Patrick Michaels, senior fellow in environmental studies at the Cato Institute, applying the United Nations' computer model to the Jeffords bill, it would prevent 0.04 degrees F of global warming over the next 50 years.
Jeffrey Holmstead, the EPA's top air official, testified that President Bush "strongly opposes" regulating carbon dioxide and it is thought he would veto a bill containing language that would mandate cuts in CO2.
Source: Gretchen Randall, "New Proposed 'Multi-Pollutant' Bill Would Cost Jobs And Billions Of Dollars," Ten Second Response, November 4, 2001, National Center for Public Policy Research, Chicago office, 3712 North Broadway - PMB 279, Chicago, Ill. 60613, (773) 857-5086.
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