“Nature is an awful lot more powerful than we are.” — New York City Mayor Michael Bloomberg assessing the damage to the city after the most devastating storm in decades hit the country’s most densely populated region, cutting off communication and leaving millions without power.(The Associated Press, 2012)
I couldn’t agree more, Mr. Mayor; and your goal of shutting down coal-fired electrical generation in the U.S. will have no effect on changes in climate. However, the achievement of your goal would have a very real effect on the economy in this country, and a very negative impact on the standard of living for millions of Americans. A recent study by Civitas (available here) concludes that energy-intensive manufacturing industries in the UK, such as cement, chemicals, glass, ceramics, steel, and aluminum, are threatened or closing as a result of the high cost of energy due to carbon reduction policies:
A new pamphlet by Kaveh Pourvand examining the £400bn a year mineral products industry, warns that Britain has the highest carbon reduction targets in Europe, and that this is causing great damage to manufacturing.
Published by Westminster think-tank Civitas, Mr Pourvand’s pamphlet argues that the mineral products sector, which employs 70,000 people, is crucial to the UK economy. However, UK manufacturing is under threat from high energy prices, especially energy intensive industries (EIIs).
EU legislation already adds “considerable costs” to energy prices. However, the UK’s current environmental strategy raises energy prices to high levels, even in comparison to the rest of the EU.(Civitas, 2012)
The economics of high energy costs are no different in this country; artificially increasing the cost of energy through regulation will lead to the loss of manufacturing and will be devastating for American workers and their families. This isn’t hypothetical — these are very real consequences.
Civitas. (2012, Dec 26). Britain’s £800m cement industry threatened by carbon reduction policies. Retrieved from http://www.civitas.org.uk/press/prIdeasFEG2.htm
The Associated Press. (2012, Oct 31). Quotations of the day. Retrieved from http://www.boston.com/news/nation/2012/10/31/quotations-the-day/yKHhHe2g5luO61SUCnRghI/story.html