New laws to cut California greenhouse gas emissions 40 percent below 1990 levels could have huge negative impact on the state, according to a new report in the L.A. Times.
“A preliminary analysis just released by the California Air Resources Board, which has sole authority to impose the new rules, projects a potential reduction of 25,000 to 102,000 jobs and the loss of $7 billion to $14 billion in gross state economic output. The board said those impacts are small relative to the state’s economy,” the newspaper reported.
The cost of everything from electricity, gas, food to homes could be headed up as a result, the article said.
“The Legislature relied on years of sophisticated computer modeling to understand how staying the course on the use of fossil fuels will disrupt Earth’s climate. No one, however, can point to detailed economic study of how the new goals will affect the world’s sixth-largest economy,” according to the Times.
Critics say that California’s efforts by themselves will not significantly affect global warming.
Proponents of the measure say the state is poised to champion new energy efficient technologies and products to combat climate change that will be a big boost to the state’s economy and its workers.
EDITOR'S NOTE: The Energy Times will convene a major executive energy conference, the Renewables Rush, in San Francisco on April 5 that will explore the state’s energy and climate policies and its impact on utilities and their customers.