Report: Obama’s Paris Climate Change Plan to Cost Up to $45 Billion Per Year

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Free Beacon:

Meeting the climate change goals proposed by President Barack Obama for the upcoming United Nations conference in Paris will cost up $38 to $45 billion annually and reduce global temperatures by less than two-tenths of one degree, according to a report released Thursday.

 

The report, by the American Action Forum, a center-right policy institute, calculated the costs of past and pending regulations the administration is planning to use to go around Congress to meet international goals to reduce carbon emissions.

 

“As the world meets in Paris at the United Nations (UN) Conference on Climate Change during the first two weeks in December, it is important to take note how the U.S. has already regulated greenhouse gases (GHGs),” the report, written by Sam Batkins, AAF’s director of regulatory policy, said. “According to American Action Forum (AAF) research, regulators have already imposed $26 billion in annual costs to limit GHGs and have proposed an additional $1.7 billion. However, to meet President Obama’s climate goals the nation will have to spend up to $45 billion more each year by 2025.”