The Heritage Foundation’s Center for Data Analysis has a state-by-state forecast of losses to come under the Lieberman-Warner bill, Senate Bill 2191, America’s Climate Security Act of 2007.
Arbitrary restrictions predicated on multiple untested and undeveloped technologies will lead to severe restrictions on energy use and large increases in energy costs. In addition to the direct impact on consumers’ budgets, these higher energy costs will spread through the economy, injecting unnecessary inefficiencies at virtually every stage of production and consumption.
Ohio’s report shows billions lost in Gross State Product and tens of thousands of lost jobs. Ohio wasn’t been the most job friendly state to begin with. Electricity stands to go up by 23%, natural gas by 11%, and gasoline by 20%.
One Presidential candidate has remarked that cap-and-trade is a “market solution.” There will indeed be a market: just not a free or desirable one. This is just another tax.
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