Greenhouse-gas limits affordable, study says; “Told ya so,” E.U. replies
A new study by the Energy Information Administration, an independent arm of the U.S. Energy Department, reveals that mandatory limits on greenhouse-gas emissions would not significantly affect the country’s economic growth through 2025. Surprisingly, or perhaps not, the report contradicts the principal argument the Bush administration has used against imposing such limits. European Union representatives, meeting with senior officials in Washington this week, took the opportunity to say “nyah nyah” and “we told you so.” The EIA estimated that placing caps on carbon dioxide, methane, and other greenhouse gases in order to reduce emissions 7 percent from currently forecast 2025 levels would reduce the nation’s gross domestic product by only one-tenth of 1 percent. To which a White House spokesflack replied, “Any reduction in U.S. GDP is serious, and would impact not only American businesses, but American families.” Unlike, say, global warming.
Get Grist in your inbox