WHEREAS, Companies that are required to participate in the | 14 |
cap and trade program will ultimately pass the cost of | 15 |
participation in the program on to consumers. The Congressional | 16 |
Budget Office estimates that price increases resulting from a 15% | 17 |
cut in greenhouse gas emissions would cost the average household | 18 |
between 1.7% to 3.3% of its after-tax income every year, with | 19 |
households in the bottom fifth of the income scale losing the | 20 |
largest share of income; and | 21 |
WHEREAS, The combustion of coal produces more than 50% of the | 22 |
electricity generated in the United States, with Ohio receiving | 23 |
more than 85% of its electricity from coal. Thus, the cap and | 24 |
trade program will result in massive increases in energy costs for | 25 |
all consumers because the cost to produce electricity from coal | 26 |
will be markedly higher. The increased energy costs will | 27 |
disproportionally impact states in the middle part of the United | 28 |
States such as Ohio that are more reliant on coal. The | 29 |
Congressional Budget Office has acknowledged that these increases | 30 |
in energy costs will effectively act as a regressive tax affecting | 31 |
every household in the nation, with a disproportionate effect on | 32 |
poorer families; and | 33 |
WHEREAS, The cap and trade program as proposed will result | 40 |
not only in a
massive windfall of hundreds of billions of dollars | 41 |
for the
federal government through the sale of emissions credits, | 42 |
but also
in the loss of hundreds of thousands of jobs. The | 43 |
program
ultimately will not result in the overall global decrease | 44 |
of
greenhouse gas emissions because those industries that emit | 45 |
greenhouse gas, if they are able to do so, will merely relocate to | 46 |
countries with less
stringent standards and continue to operate, | 47 |
and those countries are not poised to cap their carbon emissions; | 48 |
and | 49 |
WHEREAS, Any proposed new environmental or energy legislation | 50 |
enacted by Congress should promote and encourage new technologies | 51 |
such as zero-emission advanced nuclear power, biomass energy, fuel | 52 |
cells, and
clean coal with carbon capture and sequestration with | 53 |
a goal to
bring such technologies to market as quickly as | 54 |
possible. The
regulatory, liability, and legal barriers that | 55 |
prevent these
technologies from being commercialized and deployed | 56 |
should be
addressed before any cap is imposed on greenhouse gas | 57 |
emissions;
now therefore be it | 58 |
RESOLVED, That we, the members of the 128th General Assembly | 59 |
of the State of Ohio, in adopting this resolution, urge the | 60 |
Congress of the United States to refuse to enact cap and
trade | 61 |
legislation that would negatively impact Americans by increasing | 62 |
the costs of goods and services and instead enact legislation that | 63 |
encourages states to establish and develop their own renewable | 64 |
energy portfolio standards; and
be it further | 65 |