28 June 2007 23:58 [Source: ICIS news]
Thomas Donohue, president of the US Chamber of Commerce, told the Senate Environment and Public Works Committee that legislative efforts to curb US contributions to global warming could “turn out the lights on our country’s economic future”.
Testifying in a hearing called to consider the potential impact of global climate change proposals on the
The committee, chaired by Senator Barbara Boxer (Democrat-California), is considering several “cap and trade” legislative proposals meant to reduce US emissions of carbon dioxide (CO2) and other greenhouse gases believed to cause global warming.
Boxer has vowed to advance legislation to reduce
Donohue, whose organisation includes many utilities and chemical producers among its 3m member firms, cited a study by the Massachusetts Institute of Technology (MIT) showing that the three main emissions bills before Congress could raise US electric power costs by 30-75% between 2015 and 2020.
“Faced with such rising energy costs, it would be no surprise to see many heavily energy-dependent industries migrate overseas and take American jobs along with them,” Donohue said. “The chemicals industry has already done so.”
Donohue also was critical of seemingly contradictory congressional goals.
“On one hand, Congress seeks to place serious limits on energy exploration, but on the other continues to push for energy independence and carbon-constraining climate change legislation,” he said. He said the
The US Chamber of Commerce is a private trade group not related to the federal government.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|