Jeffords Legislation Wrong Approach

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Jeffords Legislation Wrong Approach

DISTRICT OF COLUMBIA, WASHINGTON, Mar. 16 -/E-Wire/-- The Global Climate Coalition said today new legislation introduced by a bipartisan group of northeastern Senators regulating carbon dioxide emissions power plants is wrongheaded in light of America's current energy woes.

"As we continue discussions about a national energy policy, it is important to strike the proper balance between the nation's energy needs and the nation's environmental priorities," GCC Executive Director Glenn Kelly said. "Though well-intended, efforts aimed at regulating carbon dioxide emissions are misguided and costly."

Kelly said the only means of reducing carbon dioxide emissions would be to limit the use of fossil fuels (coal, natural gas, and oil) that now provide over 80 percent of our national energy needs. He added such proposals threaten our nation's ability to meet its growing energy requirements, which are critical to preserving a sound economy in the short-term.

A December 2000 report by DOE's Energy Information Administration found that emissions reductions of SO2 or NOx reflecting current proposals would have little impact on the nation's electricity costs.

By contrast, including CO2 would result in significant costs for the nation and American energy consumers within ten years, including: Â· Raising the electricity "resource cost of service" by $70 - $90 billion annually; Â· Increasing national electricity prices by 29 to 42%; Â· Increasing the already rapid growth in natural gas consumption by 54 to 75%; Â· Raising natural gas prices by 31 to 55%; Â· Lowering US economic activity (GDP) by $60 - $84 billion (in 2010 alone).

"Energy needs and environmental responsibility go hand-in-hand despite those who argue otherwise," Kelly added. "American's deserve abundant energy supplies, American's deserve a clean and healthy environment, and today's technologies promise both."

Kelly also said GCC agrees wholeheartedly with President Bush, members of Congress and all Americans who feel global climate change is an issue that must be taken very seriously.

"Despite the many diplomatic, economic and scientific complexities and uncertainties that even the best experts don't fully understand, American industry will continue to devote itself to finding common sense approaches that address all greenhouse gas emissions, improve our efficiency and promote, develop and implement the new technologies that will change the way we use energy in the future," he said.

Global Climate Coalition

Frank Maisano, (202) 628-3622

http://www.globalclimate.org

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