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November 16, 2007
New Research Reveals One State's Energy Recommendations Won't Work in Florida, Nationwide
WASHINGTON, DC- A new study commissioned by the U.S. Chamber of Commerce and Florida Chamber of Commerce reveals Florida's current plan to reduce greenhouse gases through a mandated statewide emission cap will lead to higher energy prices, a heavier burden on low-income groups and substantial job losses.
"These findings highlight what might work for one state does not directly translate to another state or the United States as a whole," said Bill Kovacs, vice president of Environment, Technology, and Regulatory Affairs for the U.S. Chamber of Commerce. "There could be detrimental effects on Florida's people and economy. It's important to have further research and proper perspective on this issue as Florida explores its future energy options and ways to reduce emissions."
Global research company CRA International, conducted a macro-economic analysis of environmental mandates and found the plan outlined for Florida will:
- Increase electricity prices by 26% in 2015 and 32% by 2025.
- Increase gasoline prices by 32% by 2015 and 50% by 2025;
- Cost Floridians 251,000 jobs by 2015 and more than 380,000 jobs by 2030;
- Mean lower income families will have to pay an additional 4% of their resources to energy within the next seven years;
- Reduce the Gross State Product by 1.9%, costing $6 billion per year by 2020.
The Florida Chamber has been working with Governor Charlie Crist to find balanced energy solutions, like increasing the state's investment in alternative energy research and development to create more skilled jobs for Floridians. Additional recommendations include a consumer education campaign and incentive-based emissions reduction program, as well as expediting nuclear energy options.
Florida's suggested mandates are strikingly similar to those in S. 2191 "America's Climate Security Act" introduced by Senator Joseph Lieberman and set to be pushed through committee in early December. The U.S. Chamber opposes S. 2191 because it fails to address the international nature of global climate change, promote accelerated technology development, preserve American jobs and the economy, and reduce barriers to development of climate-friendly energy sources.
The U.S. Chamber is the world's largest business federation, representing more than 3 million businesses and organizations of every size, sector and region.
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