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Friday, December 01, 2006

Kyoto Costs Examined, Succinctly

Americans on opposite sides of the issue address the question of projected costs of ratifying the Kyoto Treaty:
Union of Concerned Scientists, 1998:
Recently [a Republican Congressman] claimed that complying with the Kyoto Protocol would increase the prices of consumer goods by more than 50 percent and the price of gasoline by 70 cents a gallon. Others have argued that the country would lose millions of jobs. Such alarmist economic assertions rely on faulty analysis...
National Center for Public Policy Research, 2000:
The Kyoto Protocol... would require the United States to make drastic reductions in greenhouse gas emissions by 2010 to combat the alleged threat of man-made global warming. If ratified by the U.S. Senate, the treaty would inflict major harm on the economy and impose great costs on low-income families. ...Kyoto would increase the price of gasoline by up to 66 cents per gallon, raise the average electric utility bill by 86 percent and hike the cost of heating fuel oil by 76 percent. Each U.S. household would have to spend an additional $1,740 per year on energy.
A bulletin from post-Kyoto Europe may shed light on who which group was more correct:
BBC, 2006:
Electricity prices could double in Europe if power firms are to meet emissions reduction targets under the Kyoto Protocol, says a report.

Posted by Amy Ridenour at 7:08 PM

Copyright The National Center for Public Policy Research