report from the National Association of Manufacturers:
U.S. jobs decline by 1.8 million under the low cost case and by 2.4 million under the high cost case. The primary cause of job losses is lower industrial output due to higher energy prices, the high cost of complying with required emissions cuts, and greater competition from overseas manufacturers with lower energy costs...
By 2020 gasoline would increase between 8.4% and 11.1%, electricity between 5% and
7.9%. By 2030, gasoline prices increase between 20% and 26.1%, natural gas by 56.3% and 73.5% while electricity prices increase by up to 50%. Table 1 shows the increase in
energy prices faced by a typical household compared over the 2020-2030 period...
the primary impact would fall on the electric sector. W/M would result in the electric industry shutting down most carbon-based generation and/or using expensive, as yet
unproven technology, to capture and store CO2. To meetthe stringent goals of W/M, the electric industry would also have to substitute high cost technologies, such as biomass
and wind, for conventional generation.
