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“GLOBAL WARMING TREATY” mentioning the U.S. Dept. of Energy was published in the Extensions of Remarks section on pages E2023 on Oct. 10, 1998.
The publication is reproduced in full below:
GLOBAL WARMING TREATY
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HON. KEN CALVERT
of california
in the house of representatives
Friday, October 9, 1998
Mr. CALVERT. Mr. Speaker, yesterday I submitted a portion of a study performed by the Business Roundtable which details the devastating economic consequences that could occur if the United States ratified the global warming treaty negotiated in Kyoto last December. Today I am submitting the introduction of a similar study performed by the CONSAD Research Corporation, one of the foremost economic research organizations. I would urge all my colleagues to consider this analysis as the debate surrounding the Protocol continues.
Finally, I would encourage all Members to review a report the Department of Energy's own Energy Information Administration released today. The report is just one more warning of the possible disastrous consequences of ratifying the Protocol. The report can be found on the Internet at www.eia.gov.
The Kyoto Protocol: A Flawed Treaty Puts America at Risk
SECTORAL AND REGIONAL ECONOMIC IMPACT ANALYSIS
Introduction
CONSAD Research Corporation, one of the Nation's leading economic forecasting firms, conducted a May 1998 economic analysis of the proposed Kyoto Protocol. Their analysis parallels findings by other leading economic forecasters which detail the negative impact this treaty will have on employment, economic output, and standard of life for working families, senior citizens, and those who live on fixed or low-incomes. The study provides a 50 state breakdown of job losses And economic dislocation due to policies enacted to implement the Kyoto Protocol.
CONSAD Research's key findings are that, implementation of the Kyoto Protocol will mean:
Consumers and businesses will be forced to pay higher energy costs. the resulting increase in energy costs will also drive up prices on all consumer goods;
Approximately 3.1 million fewer American workers will be working in the year 2010 as a direct result of this treaty
(assuming high permit fee range);
U.S. Gross Domestic Product (GDP) in the year 2012 will decline by the least $177 billion and perhaps by as much as
$318 billion;
Key strategic industries (aluminum, pulp and paper, chemical, and others) will experience persistent employment losses as well as losing market share for these products in international markets;
Every region of the U.S. will experience increased unemployment due to the treaty, with the greatest loses occurring in California, Arizona, Louisiana, Oklahoma, and Texas;
The highest job losses will be in high-skilled, high-wage employment sectors, with many U.S. workers being forced to take employment in lower-paying jobs in service-related industries rather than facing prolonged periods of unemployment; and
The U.S. standard of living will decrease as working families are forced to reduce consumption of goods and services in every major category--including food, energy, and health care.
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