Tags: Barack Obama | Climate Change | Global Warming | Money | study | regulations | environment

Study: Climate Regs Could Cost $4.5T

Study: Climate Regs Could Cost $4.5T

EPA nominee Scott Pruitt (AP Photo/Sue Ogrocki)

By    |   Monday, 19 December 2016 05:17 PM

Democratic Party regulations aimed at fighting climate change could end up costing American taxpayers $4.5 trillion over the next 30 years, according to a study by the American Action Forum.

That would be a cost of about $10,300 per American.

Even if a less-aggressive plan pursued by President Barack Obama is continued by subsequent administrations, the cost would be at least $1 trillion, The Hill noted.

The cost comes from the Democrats' goal of cutting greenhouse gases by 80 percent over the next three decades.

AAF's Director of Regulatory Policy Sam Batkins, who authored the study, said attempting to cut carbon emissions is an expensive proposition, and such moves typically are paid for by consumers in the form of higher prices.

"Consumers could expect to pay more for energy, household goods, and a host of other products and services," he said. "The cost of using a car would rise by over $300 per year by 2050."

Regulations should ideally balance burdens with benefits, the study noted, but added the Democratic plans in this case do not.

"AAF has analyzed a sample of DOE rule-makings, and all but one generated more costs than the reported GHG benefits," the study said. "Across all government agencies, there have been 24 rules during the Obama Administration where costs have exceeded benefits. Regulators often rely on consumer savings and 'co-benefits' to justify regulations that have burdens greater than their benefits."

AAF is headed by Douglas Holtz-Eakin, a former director of the Congressional Budget Office, and, according its website "injects forward-thinking ideas into the public debate that will build a better economic future, promoting innovative, free-market solutions to create a smaller, smarter government."

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Democratic Party regulations aimed at fighting climate change could end up costing American taxpayers $4.5 trillion over the next 30 years, according to a study by the American Action Forum. That would be a cost of about $10,300 per American.
study, regulations, environment, taxpayers
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2016-17-19
Monday, 19 December 2016 05:17 PM
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