{"id":2639,"date":"2008-01-21T10:12:39","date_gmt":"2008-01-21T16:12:39","guid":{"rendered":"http:\/\/wordpress-367309-1145705.cloudwaysapps.com\/2008\/01\/21\/analyses-finds-law-would-cut-carbon-with-modest-impact-on-economy\/"},"modified":"2008-01-21T10:12:39","modified_gmt":"2008-01-21T16:12:39","slug":"analyses-finds-law-would-cut-carbon-with-modest-impact-on-economy","status":"publish","type":"post","link":"https:\/\/sustainablog.org\/articles\/analyses-finds-law-would-cut-carbon-with-modest-impact-on-economy\/","title":{"rendered":"Analyses Finds Law Would Cut Carbon with Modest Impact on Economy"},"content":{"rendered":"
<\/a> The U.S. Environmental Protection Agency (EPA) and the Energy Information Administration (EIA) have both published analyses of Senators Arlen Specter (R-PA) and Jeff Bingaman’s (D-NM) proposed “Low Carbon Economy Act of 2007” (S. 1766<\/a>)<\/p>\n Using a cap-and-trade system<\/a>, the Act aims to cut global warming emissions to 2006 levels by 2020, 1990 levels by 2030, and then 60 percent below 1990 levels by 2050.<\/p>\n Both reports found that the Act would cut emissions 24-26 percent from the “business-as-usual” approach by 2030, while the impact on economic growth and prices would be “modest.” The studies also found that the legislation would spur new clean technology and carbon capture development in coal plants.<\/p>\n Among the details of the reports:<\/p>\n Senator Bingaman commented in a news release<\/a>:<\/p>\n The EIA and EPA reports both show that a well-designed climate program can reduce emissions at a low-cost to our economy. Both studies conclude that our climate change legislation would dramatically transform technologies to spur carbon capture and sequestration, greatly lowering emissions from coal-fired power plants.<\/p><\/blockquote>\n Interestingly, while the emissions targets in the McCain-Lieberman Climate Stewardship and Innovation Act of 2007 (S. 280<\/a>) imply larger cuts than the Specter-Bingaman Act, the EPA found that the McCain-Lieberman proposal relies heavily on international carbon offsets and therefore both bills result in similar levels of domestic global warming emissions cuts.<\/p>\n Energy Information Administration<\/a> The U.S. Environmental Protection Agency (EPA) and the Energy Information Administration (EIA) have both published analyses of Senators Arlen Specter (R-PA) and Jeff Bingaman’s (D-NM) proposed “Low Carbon Economy Act [ … ]<\/p>\n","protected":false},"author":83,"featured_media":17387,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21,7],"tags":[271,272,201,80,8516],"yoast_head":"\n\n
\nEnvironmental Protection Agency <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"