Panel bashes climate legislation

A climate change bill that has passed the U.S. House of Representatives could result in as many as 35,500 lost jobs in Louisiana by 2030, mostly in manufacturing, while the average household could lose $874 of disposable income, according to a study co-sponsored by the National Association of Manufacturers and the American Council for Capital Formation. But the bill, which seeks to reduce U.S. carbon emissions through a “cap and trade” system, would do little to impact global emissions because of increased pollution from China and India, says Margo Thorning of the council, one of several speakers who attacked the Waxman-Markey bill at an industry-sponsored discussion today at LSU. David Dismukes, associate executive director at the LSU Center for Energy Studies, says the bill could create opportunities for the state; for example, by creating markets for forestry products to fuel renewable energy. But Dismukes says the new opportunities would not nearly offset the economic costs. The panel did not include any cap and trade supporters. LABI, the U.S. Chamber of Commerce, the Louisiana Oil and Gas Association, and the LSU Center for Energy Studies co-hosted the event. See the full version of this story here.—David Jacobs

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