South Carolina

Much of the political support that has developed for the 2009 cap-and-trade bills depends on their provisions for developing carbon capture and storage (CCS) and nuclear power capabilities. However, basic engineering shows that large-scale CCS is both physically and economically impossible. Under current conditions, CCS and significant nuclear power expansion are essentially politically impossible. No cap-and-trade bill introduced in 2009 overcomes these fatal flaws. As such legislative promises concerning CCS and nuclear power are illusory and should be disregarded as meaningless.

Energy Bait-and-Switch
The Illusory Promises of the 2009 Climate Bills
October 2009
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According to Heritage Foundation* South Carolina will face in 2012 as a result of the proposed Cap and Trade Legislation:

•A decline in Gross State Product of $1,756,350,000
•Total Personal Income Loss of $2,430,580,000
•Non-Farm Job losses of 23,482
•Increase in Electricity Prices from 2012-2035 of $706.46 per household
•Increase in Gas Prices from 2012-2035 of $0.60 per gallon

*Impact of the Waxman–Markey Climate Change Legislation on the States
by David Kreutzer, Ph.D., Karen Campbell, Ph.D., William W. Beach, Ben Lieberman and Nicolas Loris
The Heritage Foundation
August 19, 2009
Read the Report

 

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