Wednesday, January 18, 2012

Projecting The Economic Gains Of Nationwide Carbon Pricing

The Analysis Group released the report The Economic Impacts of the Regional Greenhouse Gas Initiative on Ten Northeast and Mid-Atlantic States. It is a study of the Regional Greenhouse Gas Initiative agreement between Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New York, Rhode Island, and Vermont.

Findings included regional economic gains of more than $1.6 billion and 16,000 new jobs in the three years of the program.

The population of these 10 northeastern states is 40,494,453.

The population of the United States is 308,745,538.

(via census.gov)

Projecting the job and economic gains of carbon cap and trade for these 10 states to the United States as a whole gives (over three years):

-105,990 jobs created

-more than $10 billion in economic gain

For comparison, the Keystone XL Pipeline which is in the news has been projected by the Cornell Global Labor Institute to eliminate more jobs than it will create.

[original news item via ThinkProgress]