As noted last week, the Cap and Trade bill was recently approved by the US Senate Committee on Environment and Public Works, an important first stage in the approval process. Yesterday it was the turn of industry groups to present testimony to the Senate Finance Committee on the impact of the legislation on refinery and petrochemical jobs in the US.
The National Petrochemical and Refiners Association (NPRA) expressed its view that the total cost to US refiners would exceed $67 billion per year based on the total cost of both refinery and consumer emissions. NPRA believes that this would simply drive refining and petrochemical production overseas, with a huge impact for the US economy, significantly increasing unemployment whilst having little no net impact on global CO2 emissions.
As the world rushes towards Copenhagen, do we need to take a step back and really consider what we are doing here?
Firstly, polls show that very many people remain unconvinced about anthropogenic global warming, despite "the science is settled" statements of many national governments and the alarmist approach taken to promote the need for action. To leave this question unresolved in the minds of so many risks creating major social and economic issues in the future.
Secondly, we need to ensure that whatever course of action is agreed is implemented on a truly global basis, so that the chosen strategy can meet its stated aims, without simply leading to a redistribution of manufacturing assets around the globe.
Posts
No comments:
Post a Comment