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Tuesday, May 26, 2009

Black Chamber of Commerce Climate Study Released

The National Black Chamber of Commerce (NBCC) released a new study that determines the potential economic impacts of the federal cap-and-trade system outlined in the bill. Compiled by CRA International, the analysis determines that by 2030 the law would:

1) reduce national GDP roughly $350 billion below the baseline level;

2) cut net employment by 2.5 million jobs (even after accounting for new "green" jobs); and

3) reduce earnings for the average U.S. worker by $390 per year.

NBCC President and CEO Harry Alford, left, said the findings add to a growing body of evidence that demonstrates cap-and-trade would make American consumers poorer and the products they buy more expensive. He added the NBCC study finds there will be little, if any, environmental impact to justify the high price U.S. families will have to pay, since the trading system will deliver virtually negligible changes in global CO2 emissions so long as developing nations such as China and India don't buy in.

AAEA supports cap & trade but agrees with NBCC that China and India need to be participants in any global climate change program.

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