Posted on 08/23/2022 4:28:55 PM PDT by Libloather
The Inflation Reduction Act, the tax and climate bill President Biden signed into law last week, could reduce the costs from climate-related damages by up to $1.9 trillion, according to an analysis by the Office of Management and Budget (OMB).
The analysis published Tuesday is based on three models crafted by Rhodium Group, Energy Innovation and Princeton University. They found the law’s climate provisions could potentially cut up to 1 billion annual metric tons of carbon dioxide by the end of the decade, nearly meeting the White House target of cutting emissions in half relative to 2005 by 2030.
To model the reductions beyond 2030, the analysis uses the “social cost of carbon” metric, or the financial damages associated with a projected future level of carbon pollution. The analysis notes that the model assumes yearly reductions through 2030 will continue at a comparable pace through the next two decades, which is likely a conservative estimate.
Meeting these projections could reduce financial damages from climate impacts by between $700 billion and $1.9 trillion up to 2050, the OMB models found. In addition to reduced property damage from climate disaster, the savings would also come in the form of fewer negative health impacts and fewer energy costs associated with hotter temperatures.
In the nearer term, the models project the law could save between $34 billion and $84 billion a year by 2030.
Environmental advocates are asking the Biden administration for a federal ban on new natural gas-powered heating appliances in homes and commercial buildings.
In a petition submitted to the Environmental Protection Agency (EPA) on Tuesday, 26 health, environmental and consumer protection organizations asked the agency for the ban.
Environmental and health advocates have fought to bar natural gas appliances in homes and buildings at the city and state levels...
(Excerpt) Read more at thehill.com ...
So how do the environmental weenies think ppl will be able to cook at home? Solar, wind & water power? Can’t use icky electricity, of course. 🤦♀️
This weather scam and the pronouns pick your gender are sci fi horror
To have the power to spend other people’s money is extremely intoxicating and extremely addictive. Just think if you had the power to tax your neighbor and spend the money as you wish.
The Fools on The Hill pimping more “news predictions” aka FAKE NEWS. The idiots have begun hiring psychics to do the news. What a crock. Jo Jo doesn’t even know what planet he’s on anymore.
They are understating the benefits. It is closer to one hundred eleventy billion
“basically saving something by making at least 10x of damage and costs!”
Cut excess spending and you will get the 1.9t back in less time.
Carbon Monoxide concentrations around the planet -
could
( not will,. COULD )
reduce the costs from climate-related damages by up to $1.9 trillion, according to an analysis by the Office of Management and Budget (OMB).
The analysis published Tuesday is
based on three
national socialist ( nazi)
models
crafted by the climate con artist Rhodium Group, Energy Innovation and Princeton Marxism University.
Jmho.
Thereby killing off 25% of the earth’s plant life.
My problem with believing in Warmageddon is that to believe in it means disbelieving that we’re still in the downside of the Holocene Glacial Era. It’s not like the Modern Warm Period is anything new under the sun. And the general trend since the Holocene Epoch 7,000 years ago is for the warming periods to be lower in temps than most of the recent ones.
When it is 2030 I hope every conservative shouts out that We are still here and the liberals all lied to get money for their green new deal scam!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.