Competitive Enterprise Institute Exaggerated The Cost Of Cap-And-Trade

Competitive Enterprise Institute Exaggerated The Cost Of Cap-And-Trade

Competitive Enterprise Institute:

"Under the bill, the average household will pay about $248 more a month, say economists, about ten times more than voters said they were unwilling to pay..." [CEI's OpenMarket.org, accessed 9/1/09]

Rebuilding America For Less Than A Quarter Per Day

Reuters: "Climate Legislation Moving Through Congress Would Have Only A Modest Impact On Consumers." According to Reuters: "A new U.S. government study on Tuesday adds to a growing list of experts concluding that climate legislation moving through Congress would have only a modest impact on consumers, adding around $100 to household costs in 2020. Under the climate legislation passed by the House of Representatives in June, electricity, heating oil and other bills for average families will rise $134 in 2020 and $339 in 2030, according to the Energy Information Administration, the country's top energy forecaster." [Reuters, 8/5/09]

EIA: American Clean Energy And Security Act Would Cost Only $0.23 Per Day. According to a House Energy and Commerce Committee factsheet of the Energy Information Administration's analysis of the American Clean Energy and Security Act: "The U.S. Energy Information Administration (EIA) has completed an analysis of the American Clean Energy and Security Act (H.R. 2454), as passed by the U.S. House of Representatives... The overall impact on the average household, including the benefit of many of the energy efficiency provisions in the legislation, would be 23 cents per day ($83 per year). This is consistent with analyses by the Congressional Budget Office which projects a cost of 48 cents per day ($175 per year) and the Environmental Protection Agency which projects a cost of 22 to 30 cents per day ($80 to $111 per year)." [House Energy and Commerce Committee, EIA's Economic Analysis Of "The American Clean Energy And Security Act Of 2009," 8/4/09; emphasis original]

CBO: In 2020, Cap-And-Trade Will Only Cost An Average Of $175 Annually, "About A Postage Stamp A Day." In its analysis of the American Clean Energy and Security Act, the Congressional Budget Office wrote: "On that basis, the Congressional Budget Office (CBO) estimates that the net annual economy wide cost of the cap-and-trade program in 2020 would be $22 billion-or about $175 per household." Rep. Edward Markey noted it was "the cost of about a postage stamp a day." [CBO, 6/19/09; House Committee on Energy & Commerce Release, 6/20/09]

• Cap-And-Trade Would DECREASE Energy Prices For Low-Income Americans. In its analysis of the American Clean Energy and Security Act, the Congressional Budget Office wrote, "households in the lowest income quintile would see an average net benefit of about $40 in 2020." [CBO, 6/19/09; emphasis original]

By 2025, Cap-And-Trade Will Save Americans $95 Billion

By 2025, A Clean Energy Standard Would Save $95 Billion On Energy & Gas Bills.  According to the Center for American Progress: "A national renewable electricity standard, a key piece of the clean energy legislation currently before Congress, would save households and businesses in every state billions of dollars in electricity and natural gas bills... The numbers come from the Union of Concerned Scientists, who earlier this year analyzed a renewable electricity standard that would aim to have 25 percent of our electricity come from renewable sources by 2025. They found that this standard would save families and businesses $95 billion in electricity and natural gas bills through 2030 and spur new investments and hundreds of thousands of new clean-energy jobs." [Center for American Progress, 5/19/09]