Sign Up |  Login

     
 
Daily News |  Most Emailed |  Most Viewed |  Most Recommended |  Most Bookmarked                                  
 Home
Oddly Enough  
Politics  
Sports  
Business  
Life  
Technology  
Top News  
 Most Popular
News > Politics
U.S. climate bill seen raising household energy cost

"A gasoline pump is seen at a closed-down Alliance station in Ventura"
2009-08-04 16:32:45

By Tom Doggett and Ayesha Rascoe

WASHINGTON (Reuters) - Climate change legislation passed by the U.S. House of Representatives would increase the energy costs of the average family by $142 a year in 2020 and by $583 in 2030, according to the government's top energy forecasting agency.

The estimate from the U.S. Energy Information Administration is in line with cost impact projections made by the Congressional Budget Office and the Environmental Protection Agency, and contradict claims by energy and business trade groups that consumers would pay thousands of dollars more a year under a government plan to fight global warming.

The EIA's estimate says gasoline prices would be 23 cents a gallon higher in 2020 and 36 cents more in 2030, according to a copy of the agency's analysis that was sent to U.S. lawmakers and obtained by Reuters.

Jeremy Symons, who oversees the National Wildlife Federation's climate change program, said the EIA's analysis shows that industry claims that efforts to fight global warming would significantly boost energy costs "are completely unfounded and simply scare tactics."

The EIA reviewed the impact of the climate change bill at the request of the House Energy and Commerce Committee. The agency sent its report to the panel, but has yet to make it public.

The House in June passed legislation to cut U.S. carbon emissions from utilities, manufacturers and others by 17 percent by 2020 and 83 percent by 2050, from 2005 levels.

The lower emission levels would be accomplished through a cap-and-trade system, where a U.S. company would be required to have a pollution permit to emit one ton of carbon dioxide and other greenhouse gas emissions each year.

Those companies that use cleaner energy and reduce their emissions could sell their permits to companies that pollute more.

The U.S. Senate is expected to unveil its climate change bill in September when lawmakers return from their summer recess.

(Reporting by Tom Doggett; editing by Jim Marshall)

Average Rating
   Email This to a Friend            Print This News  

  Bookmark:  
   News Comments
No Comments found
    Would you like to comment?
     (Maximum characters: 5000)
     You have characters left.
    
    Security code:  
                        
                         Refresh Image
                          
   Recent News

Healthcare bill passes first Senate test
Health bill poised to pass U.S. Senate test
Honduras de facto leader says will step aside
Honduras de facto leader says will step aside
Obama job approval rating drops under 50 percent
   Related News

Healthcare bill passes first Senate test
Healthcare bill clears first Senate hurdle
Healthcare bill poised to pass Senate test
Health bill poised to pass U.S. Senate test
Healthcare bill gains ahead of U.S. Senate test
Page load time: 0.49479198455811 ms