Posted on 08/23/2022 4:28:55 PM PDT by Libloather
The Inflation Reduction Act, the tax and climate bill President Biden signed into law last week, could reduce the costs from climate-related damages by up to $1.9 trillion, according to an analysis by the Office of Management and Budget (OMB).
The analysis published Tuesday is based on three models crafted by Rhodium Group, Energy Innovation and Princeton University. They found the law’s climate provisions could potentially cut up to 1 billion annual metric tons of carbon dioxide by the end of the decade, nearly meeting the White House target of cutting emissions in half relative to 2005 by 2030.
To model the reductions beyond 2030, the analysis uses the “social cost of carbon” metric, or the financial damages associated with a projected future level of carbon pollution. The analysis notes that the model assumes yearly reductions through 2030 will continue at a comparable pace through the next two decades, which is likely a conservative estimate.
Meeting these projections could reduce financial damages from climate impacts by between $700 billion and $1.9 trillion up to 2050, the OMB models found. In addition to reduced property damage from climate disaster, the savings would also come in the form of fewer negative health impacts and fewer energy costs associated with hotter temperatures.
In the nearer term, the models project the law could save between $34 billion and $84 billion a year by 2030.
Environmental advocates are asking the Biden administration for a federal ban on new natural gas-powered heating appliances in homes and commercial buildings.
In a petition submitted to the Environmental Protection Agency (EPA) on Tuesday, 26 health, environmental and consumer protection organizations asked the agency for the ban.
Environmental and health advocates have fought to bar natural gas appliances in homes and buildings at the city and state levels...
(Excerpt) Read more at thehill.com ...
basically saving something by making at least 10x of damage and costs!
There’s word “could” again which means no chance but they don’t care they’ll have a new scam in 2030 ,LOL
Is it just me or does anyone else have this fishy feeling the Chinese might take advantage of our stupidity and soak up even more of our industry as we starve for energy?
No, can’t be.
no way to prove it....ever...
Of course.
There’s not an emergency the dems are running around with their hair on fire over that can’t be solved by throwing more taxpayer money at it.
Yep. This will be like shovel ready, you can keep your dr and save $2500, solyndra, book deals and every other scam the dims pull.
And since man made global warming is a religious belief, they should ALL be Fired immediately and Prosecuted for FRAUD!!
This article is absolute horseshit. First of all, the social cost of carbon garbage is one sided bookkeeping. Nothing is said about the benefits of CO2, social or otherwise. If you want to see what a CO2-free world looks like, look at the moon. No icky CO2 there! The modelling used in this tripe is trash, as all climate models are. The reason the models all say the world is burning up is because that is what they were programmed to do. Anyone who promotes this bilge is a liar, and anyone who believes it is a fool.
Yup. 16 buhzillion in damage. But, it could have been 18 right?
Meanwhile, trust the climate oligarchs to find private profit in public policy.
It’s Congressional spending that is the impending disaster.
I actually do know that and concur.
I got my degree in meteorology and understand the difference between weather and climate, and know what it takes to forecast accurately.
And that kind of long range forecasting is simply not possible.
Besides, I have yet to see any of them tell us what exactly the average temperature of the planet is supposed to be. Or how a month long hot spell will affect the climate average temperature for a region and make it i to a different climate zone.
The Hill, may as well be Media Matters.
Marijuana growers use CO2 to increase yield up to1600 ppm. I could imagine uses better than carbon sequestration.
Everybody knows the world is full of stupid people.
https://www.breitbart.com/environment/2022/04/21/worlds-worst-polluter-china-increases-coal-production-by-three-hundred-million-tons/
Separation of Church and State!
It’s not about the environment, it’s about CONTROL. Never forget that. Rats are good at Orwellian euphemisms.
VIDEO CLIP Climate experts believe the next ice age is on its way -1978
https://rumble.com/v1h3nhl-climate-experts-believe-the-next-ice-age-is-on-its-way-1978.html
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