Economics of Climate Change in South Carolina
Written by: David G. Tuerck, PhD
Economic analysis of the Climate, Energy and Commerce Advisory Committee (CECAC) report would cost taxpayers billions of dollars while offering a negligible environmental benefit, according to the Policy Council study performed by economists at the Beacon Hill Institute. The Center for Climate Strategies, authors of the CECAC report, propose tax increases and heavier regulations on businesses.
Findings from the study:
-CECAC recommendations would cost South Carolina taxpayers $11.9 billion between 2008 and 2020.
-In 2009 the recommendations would cost the state 13,542 jobs.
-In 2009 private investment would drop by $204 million
-In 2009 the average South Carolina family would incur a direct cost of $1,836.
-Projected global emissions for 2025 would be reduced just 0.012 percent.