Spotlights
346 - Low-Cost Energy: Critical for the Economy and Our Way of Life

May 13, 2008

Key facts:

• Low-cost energy is not only critical to the economy, but also to our health, safety, and general welfare.



• Despite concerns over energy prices, policymakers are intentionally increasing energy prices through new taxes and regulations.



• The stated rationale for these harmful policies is to reduce carbon dioxide emissions in order to address climate change.



• These costly policies are being seriously considered even though they could devastate the economy and would disproportionately hurt the poor. Even worse, the most ardent global-warming alarmists admit these policies would have no effect on temperature.



• Among other policy options, federal and state policymakers are currently considering cap-and-trade programs. A cap-and-trade program could, by 2030, increase the price of gasoline in North Carolina to nearly $8 a gallon and result in a net job loss of about 146,000 people.



• North Carolina legislators already passed a renewable energy bill that could cost North Carolinians a half a billion dollars annually by 2021.



• Higher energy prices means far less wealth for the state. Wealth is crucial to major technological breakthroughs; they can happen only when there is significant wealth to invest in research and development.



• Wealth also enables individuals to better adapt to extreme weather events, such as those predicted by global-warming alarmists.

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