CATASTROPHIC: Obama EPA climate reg to cost West Virginia $47 BILLION, 229,000 job years


By: - Climate DepotOctober 5, 2016 5:22 PM with 12 comments

 

Testifying before the US Senate Environment Committee, noted economist Eugene Trisko says the government’s own economic multipliers show that EPA’s Clean Power Plan, “would lead to the cumulative loss of $47 billion of [West Virginia] economic output, $11 billion of household income, and 229,000 job years of employment by 2040.”

EUGENE TRISKO: “Applying US Department of Commerce economic multipliers specific to the West Virginia mining sector, we estimate that the EPA carbon rule, and this is just the rule that’s on the books today, would lead to the cumulative loss of $47 billion of state economic output, $11 billion of household income, and 229,000 job years of employment by 2040. A job year is one job held for one year. Even larger losses would occur if an extended Power Plan were adopted along the lines of the Paris Agreement. West Virginia state output could be reduced by a cumulative $60 billion by 2040 along with a $14 billion loss of household income. A total of 288,000 job years of employment would be loss. Clearly, West Virginia can not afford such draconian economic impacts.”

Hearing to examine the local impacts of EPA’s climate regulations
US Senate Environment and Public Works Subcommittee on Clean Air and Nuclear Safety
Logan, West Virginia
October 5, 2016