Engineering News

CBO Study Reveals Large Climate Bill Cost for Americans - API
September 21, 2009

American Petroleum Institute President Jack Gerard made the following statement on the Congressional Budget Office report that found that if cap and trade provisions of the Waxman-Markey climate bill are implemented, the US gross domestic product would be reduced by as much as 3.5 percent below what it otherwise would have been in 2050.

"Despite repeated assertions by proponents of the House climate bill that the legislation would cost Americans less than a postage stamp a day, yet another government study shows that is not the case. Like a Treasury Department analysis revealed this week, a Congressional Budget Office study shows that climate legislation will come at a big cost for the American people and for American industry.

"CBO said the House climate bill would reduce the gross domestic product of the United States by as much as 3.5 percent a year. An economic drop of this magnitude could lead to the loss of millions of American jobs and would have a huge impact on many American businesses. The Senate should carefully assess the impact on ordinary Americans when it debates its own climate bill. The bill should be equitable as well as economically and environmentally efficient and It should take into consideration the huge burden placed on consumers and the transportation industries, as well as encourage the use of low-emission natural gas."

Source: American Petroleum Institute

Engineering News Archive


Applicant Procedures
Job Seekers
Resume Help
Professional Organizations
Engineering Career Information
Engineering Colleges

Recruiters for
Professionals in the Chemical
& Pharmaceutical Industries
We recruit exclusively for Engineers and Operations/Maintenance Management Personnel in the following areas:
Specialty chemicals
Bulk chemicals
Commodity Chemicals
Fine chemicals
Industrial gases
Career Center | FAQs | Privacy
SESI Corporate Headquarters (954)755-3121 ext 109
© Search Enterprises, Inc. All rights reserved.
Submit a Job About Search Enterprises Submit a Resume Candidates Job Opportunities Search Enterprises Home