The jury’s deadlocked before the law’s even been written
Jun 01, 2008 | 12:46 PM
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Depending on who you ask, the cost of a cap-and-trade program varies widely.
The conservative National Association of Manufacturers (NAM) released a study in March predicting that by 2020 a cap-and-trade program would be responsible for an electricity price hike of between 28 and 33 percent and gas price increases of 20 to 69 percent per gallon. And that would be in addition to losses of 1.2 million to 1.8 million jobs.
"Sobering" is how John Engler, NAM's president, described the report, adding that he believes "the environmental impact of climate change is still under scientific analysis."
But among scientists, there really is no debate. The vast majority say that climate change is happening and that the burning of fossil fuels is the culprit, according to the Intergovernmental Panel on Climate Change. If nothing is done during the next 10 years to reduce emissions, sea levels will rise, storms and droughts will intensify and mass migration will occur, throwing the world into chaos.....
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