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EIA’s Analysis of Lieberman-Warner Reveals Massive Economic Pain
April 29, 2008

Contact: Marc Morano 202-224-5762
marc_morano@epw.senate.gov 
Matt Dempsey 202-224-9797
matthew_dempsey@epw.senate.gov   

Link to EIA Analysis

EIA’s Analysis of Lieberman-Warner Reveals Massive Economic Pain 

WASHINGTON, DC – Sen. James Inhofe (R-Okla.), Ranking Member of the Environment & Public Works Committee, issued the following statement on today's Energy Information Administration (EIA) analysis of the America's Climate Security Act – S. 2191 (Lieberman-Warner) global warming cap-and-trade bill.    

“Multiple government and private analyses now clearly show that the bill is wrong for America,” Senator Inhofe said. “The EIA analysis projected unacceptable increases in Americans average annual household energy bills up to $325 in 2020 and $723 by 2030. And this does not factor in transportation-related costs.  The EIA also found that the Lieberman-Warner bill would lead to higher coal, natural gas and petroleum prices.  

“Further, EIA’s gloomy economic analysis is contingent upon the U.S. building more than 2 1/2 times as many new nuclear plants as are currently operating -- an increase so massive and unrealistic as to be fictional. EIA also found Lieberman-Warner would result in up to a 9.5% drop in manufacturing output by 2030.  

“Despite this gloomy EIA analysis, proponents of Lieberman-Warner are still claiming the bill will not impose economic harm to America. Only in Washington could higher energy prices be characterized as not negatively impacting the U.S. economy. If Democrats have their way, Americans will pay significantly more at the pump, in their homes, and in many cases, with their jobs, all to accomplish an undetectable impact on the climate.  

“The question now is which U.S. Senator will dare to stand on the Senate Floor a month from now to vote in favor of significantly increasing the price of gas at the pump?”    

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Background: Both government and private sector analysis have shown the cost of the Lieberman-Warner bill to be extremely painful. See:   Inhofe Statement on EPA’s Analysis of Lieberman-Warner;  1.8 MILLION JOBS MAY BE LOST BY 2020, NEW STUDY SAYS;  New CBO Study Further Exposes Cap-and-Trade Flaws; NEW ANALYSIS: CARBON MANDATE WOULD HARM CONSUMERS, JOBS AND ECONOMY; CBO Warns that Cap-And-Trade Approach Could Create ‘Windfall' Profits & Harm Poor; EPA Analysis Projects Climate Bill Will Raise Gas Prices 53 Cents Per Gallon;  

Related Links:  

Inhofe Praises President Bush for Rejecting Lieberman-Warner Bill  

Democrats Face ‘Ferocious Infighting’ Over Global Warming Legislation  

EPA Analysis Projects Climate Bill Will Raise Gas Prices 53 Cents Per Gallon 

Inhofe Statement on EPA’s Analysis of Lieberman-Warner   

1.8 MILLION JOBS MAY BE LOST BY 2020, NEW STUDY SAYS    

Boxer Waves White Flag on Lieberman-Warner Climate Bill   

Are House Dems' climate bill efforts on track, or off the rails? – Greenwire - 03/10/2008  

Los Angeles Times editorial Strips bare the rhetoric and reality about cap-and-trade legislation  

New CBO Study Further Exposes Cap-and-Trade Flaws     

Lieberman-Warner Climate Bill 'Running into Resistance'   

Senator Bond’s Diagram of New Bureaucracy Required by Lieberman-Warner  

Look Closer at Global Warming ‘Solutions’  

LIEBERMAN-WARNER GLOBAL WARMING BILL LOSING MOMENTUM  

NEW ANALYSIS: CARBON MANDATE WOULD HARM CONSUMERS, JOBS AND ECONOMY  

Watch the U.S. Chamber of Commerce's new TV 30 Second ad opposing the Lieberman-Warner bill    

ANALYSIS CITED BY BOXER INCLUDES HUGE NUCLEAR ENERGY GAINS, DESPITE HER STAUNCH OPPOSITION TO NUCLEAR ENERGY    

Boxer's Rejection of More Time for Climate Bill Rings False     CBO Warns that Cap-And-Trade Approach Could Create ‘Windfall' Profits & Harm Poor    

Washington Times Editorial says Lieberman-Warner Bill equals 'pie-in-the-sky requirements for cutting greenhouse gases by unattainable amounts'    

Lieberman-Warner will lead to ‘higher energy prices, lost jobs and reduced GDP'    

Climate Bills Will 'Require a Wholesale Transformation of the Nation's Economy and Society'    

Lieberman-Warner Climate Bill Meets Resistance from Unexpected Sources    

Climate Bill Will Cost ‘Hundreds of Billions of Dollars' - Lieberman Concedes    

INHOFE SLAMS NEW CAP-AND-TRADE BILL AS ALL ‘ECONOMIC PAIN FOR NO CLIMATE GAIN'    

SENATOR INHOFE OPENING STATEMENT AT SUBCOMMITTEE ON GLOBAL WARMING    

Senator Inhofe Exposes Costly Global Warming 'Solutions'    

INHOFE, BOXER DEBATE GLOBAL WARMING ON SENATE FLOOR    

Cutting Emissions May Cost U.S. Economy Up to $1.8 Trillion    

Senators Propose $4500 Climate Tax on American Families  

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April 2008 Press Releases

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