Photo: Ivanka Trump and Jared Kusher, for whom we have held great regard based on their dispassionate, logical, loyal and wise counsel.     If we ourselves misunderstand the larger picture and strategy, we invite additions/corrections and will highlight any corrections at the top of this and/or subsequent postings, as is our custom. The accuracy of our archives is our most important priority. -dh

Congratulations, Mr. President, on moving to pull back EPA’s fuel efficiency standards!

“The president’s daughter and son-in-law pushed the Republican executive to get rid of a reference to the global climate change accord known as the Paris agreement in an executive order he intends to sign.”  –Daily Mail by Francesca Chambers 

(The new study below should deter even some NYC influence leaders to rethink their support for threatening Michigan, Missouri, Pennsylvania, Ohio and other nationwide jobs in the spirit of ‘political correctness’.  -dh)

Climate Change Religion + Crony Capitalism Costs The United States Jobs & Prosperity … Without Benefitting the Environment

New Report Examines Costs to U.S. Industrial Sector of Obama’s Paris Pledge 

WASHINGTON, DC – Meeting the commitments President Obama made as part of the Paris climate accord could cost the U.S. economy $3 trillion and 6.5 million industrial sector jobs by 2040, according to a comprehensive new study prepared by NERA Economic Consulting. 

The study was commissioned by the American Council for Capital Formation Center for Policy Research with support from the U.S. Chamber of Commerce Institute for 21st Century Energy.

The report, “Impacts of Greenhouse Gas Regulations on the Industrial Sector,” explores several potential scenarios under which the United States could meet the Obama administration’s international emissions pledge as part of the 2015 Paris Agreement. Existing regulations fall well short of achieving former-President Obama’s goal of a 26 percent to 28 percent reduction in net emissions from the 2005 level by 2025, and an 80 percent reduction by 2040.

The study provides the first detailed analysis of the costs and impacts associated with the additional measures that would be needed to close this “gap.”

“This groundbreaking study is the first of its kind to showcase the economic pain and job loss that would result from imposing ever-tightening climate policy regulations on the U.S. industrial sector,” said Margo Thorning, senior economic policy advisor to the American Council for Capital Formation Center for Policy Research. “What’s more, the regulatory approach is unlikely to succeed in reducing global emissions as our industrial and manufacturing activity will seek a more-friendly regulatory environment, thereby undermining U.S. climate goals.”

“This study does the analysis that the Obama administration should have done in the first place, and it finds that it is next to impossible to meet the Paris pledge gap without major new restrictions on the manufacturing and industrial sectors – restrictions that could reverse the manufacturing renaissance we are currently experiencing, pushing jobs back overseas,” said Karen Harbert, president and CEO of the U.S. Chamber’s Institute for 21st Century Energy.

The report’s central scenario projects that additional regulatory actions necessary to meet the Paris target would by 2025 reduce U.S. GDP by $250 billion, reduce economy-wide employment by 2.7 million jobs, and lower household income by $160.

Industrial sector jobs would fall by 1.1 million, with the cement, iron and steel, and petroleum refining sectors suffering the largest production losses. Under the study’s core scenario, the industrial 2025 output declines by about 21 percent, 20 percent, and 11 percent, respectively. Higher energy costs also hurt domestic demand and the international competitiveness of U.S. industry, leading to a greater share of industrial demand being met by imports.

The study also examines the potential longer-term impacts of placing U.S. emissions on a trajectory to achieve the Obama administration’s long-term emissions goal of an 80 percent reduction by 2050. It found that in 2040, the last year of the model run, GDP would be reduced by nearly $3 trillion, industrial employment would fall by 6.5 million jobs, and average household income would decrease by $7,000.

Another finding is that emissions “leakage” to other countries is a significant factor, and ultimately renders the U.S. regulatory approach ineffective at reducing global carbon emissions. In 2025, 33 percent of industrial sector emissions reductions are transferred to other countries as production shifts from the United State to other parts of the world. The industrial products produced in these plants would then be imported back into the United States.

The study includes specific state impacts for four key manufacturing states—Michigan, Missouri, Pennsylvania, and Ohio. 

In Michigan, state GDP would decline by 0.8 percent in 2025, household income by $180, and employment by 74,000 jobs — including 13,000 manufacturing and industrial jobs. The hardest hit sectors would be iron and steel, and refining, with output declining by 14 percent and 9 percent, respectively. 

In Missouri, state GDP would decline by 1 percent in 2025, household income by $190, and employment by 53,000 jobs — including 7,000 manufacturing and industrial jobs. The hardest hit sectors would be iron and steel and cement, with output declining by 20 percent and 18 percent, respectively. 

In Ohio, state GDP would decline by 1.2 percent in 2025, household income by $390, and employment by 110,000 jobs — including 24,000 manufacturing and industrial jobs. The hardest hit sectors would be cement and iron and steel, with output declining by 16 percent and 13 percent, respectively. 

And finally, in Pennsylvania, state GDP would decline by 1.8 percent in 2025, household income by $1,000, and employment by 140,000 jobs — including 26,000 manufacturing and industrial jobs. The hardest hit sectors would be iron and steel and cement production, with output declining by 16 percent and 15 percent, respectively.

The full NERA report, executive summary, and national fact sheet are available at the ACCF website.


The American Council for Capital Formation Center for Policy Research is a nonprofit, nonpartisan economic policy organization dedicated to the advocacy of pro-growth tax, energy, environmental, regulatory, trade and economic policies that encourage saving and investment.


Does our earlier commentary (here) help you to stay firm on this matter?  If not, please review our links in the left column headlines.

ENERGY CENTRAL by Paul Driessen.  

Credit: The Daily Sheeple.  

After calling dangerous manmade climate change a hoax and vowing to withdraw the USA from the Paris agreement, President Trump has apparently removed language criticizing the Paris deal from a pending executive order initiating a rollback of anti-fossil-fuel regulations, to help jumpstart job creation.

Meanwhile, EPA Administration Scott Pruitt says he expects quick action to rescind the Clean Power Plan, a central component of the Obama Era’s war on coal and hydrocarbons. The US House Committee on Science, Space and Technology is reopening its investigation into NOAA’s mishandling or tampering with global temperature data, for a report designed to promote action in Paris in 2015.

Hundreds of scientists signed a letter urging President Trump to withdraw from the UN climate agency. They warn that efforts to curtail carbon dioxide emissions are not scientifically justified and will kill jobs and exacerbate US and international poverty without improving the environment or stabilizing climate.

Hundreds of other scientists told Mr. Trump he must not waver on climate stabilization efforts or make any moves to defund government or university climate research. Hundreds of businessmen and investors told the President failure to build a low-carbon economy puts American prosperity at risk.

Over in Britain, Members of Parliament say efforts to build a low-carbon economy have led to a 58% rise in electricity prices since 2006….  (See full article here)