Studies Keep Showing: Lieberman-Warner Costs

By May 20, 2008Energy, Global Warming

From The Hill:

A study paid for by a group that represents oil refiners found that the global warming bill, co-authored by Sens. Joe Lieberman (I-Conn.) and John Warner (R-Va.), would raise pump prices by around 48 cents (in 2007 currency) by 2030. It also found that the bill would increase gas prices by as much as 13 cents over the next four years….[snip]For refiners, the bill would act like a tax on carbon dioxide, a leading greenhouse gas released when fossil fuels are burned. The total price hit would reach 60 cents, the study predicts.

About 80 percent of that would be passed on to consumers.

The report was performed by NERA Economic Consulting , a group that has helped craft a cap-and-trade system in Europe, and underwritten by the National Petrochemical and Refiners Association (NPRA) , a group that has called efforts in the United States to reduce greenhouse gas emissions ‘premature.'”

The report for the NPRA is available here.

Other studies on the costs and economic impact of the Lieberman-Warner bill:

  • Environmental Protection Agency.
  • Energy Information Administration.
  • Congressional Budget Office, cost estimate.
  • American Petroleum Institute, conducted by ICF International.
  • National Association of Manufacturers and American Council for Capital Formation, conducted by Science Applications International Corporation (SAIC).
  • MIT Study, “Analysis of the Cap and Trade Features of the Lieberman-Warner Climate Security Act (S. 2191).”
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