Greenhouse gas regulations could cost trillionsby Jonathan DuHamel on Mar. 30, 2011, under Politics
The Environmental Protection Agency (EPA) is proposing to regulate carbon dioxide emissions under the Clean Air Act. Reports from the U.S. Chamber of Commerce and the Senate Committee on Environment and Public Works estimate that the cost of these proposed regulations will be about $78 billion per year. The regulations will affect industries, farms, hospitals, office buildings, and hotels to name just a few. The regulations will adversely affect our ability to produce energy and structural materials.
The regulations are meant to forestall dread global warming. So how effective will these regulations be? According to the EPA’s own estimate, the regulations will have this effect:
“Based on the reanalysis the results for projected atmospheric CO2 concentrations are estimated to be reduced by an average of 2.9 ppm (previously 3.0 ppm), global mean temperature is estimated to be reduced by 0.006 to 0.015 [deg]C by 2100 (previously 0.007 to 0.016 [deg]C) and sea-level rise is projected to be reduced by approximately 0.06-0.14cm by 2100 (previously 0.06-0.15cm).” - source: Federal Register 75, page 25,495.
If we add up the yearly costs, then by the year 2100, we will have spent about $7 trillion to make us cooler by 0.015 degrees Centigrade. This is beyond stupid.
The EPA has long been a den of policy-driven perversions of science. It is time for Congress to come to its senses and specifically forbid the EPA to regulate greenhouse gases. Even better would be for Congress eliminate the EPA.