A new analysis by the New York University School of Law’s Institute for Policy Integrity finds that the Waxman-Markey Clean Energy and Security Act (ACES) will produce $1.5 trillion in likely economic benefits.
Using conservative assumptions, the benefits of H.R. 2454 could likely exceed the costs by as much as nine-to-one, or more. The estimated benefits do not include a significant number of ancillary and un?quantified benefits, such as the reduction of co?pollutants (particularly sulfur dioxide and nitrogen dioxide), the prevention of species extinction, and lower maintenance costs for energy infrastructure. Due to those limitations, the benefits estimates should be considered to be very conservative.
At the same time, a new study by the Union of Concerned Scientists concludes that “global warming inaction could cost the nation hundreds of billions by the end of the century.”
via Climate Progress
