Less then 2/10s of a degree……
A plan backed by President Barack Obama and the Environmental Protection Agency to further cut greenhouse gas emissions would cost an estimated $38 billion to $45 billion every year but would drop global temperatures by less than two tenths of one degree, according to a report by American Action Forum, a center-right policy institute.
The plan will be presented at the United Nations Conference on Climate Change in Paris during the first two weeks of December.
AAF notes, however, that the United States already has regulated greenhouse gases at a cost of $26 billion a year with another proposed $1.7 billion. That’s not counting the additional $45 billion in the Paris proposal.
And existing regulations have cut global warming by 0.0573 degree Celsius, the EPA estimates. The president’s new goals would make the total reduction 0.125 degree.
“In other words, full achievement of the president’s climate goals will cost more than $73 billion in annual burdens to alleviate less than two-tenths of one degree of warming,” the report states.
AAF counted at least 15 rules on greenhouse gas reporting by the Obama White House and the EPA, including increasing fuel economy for cars and heavy-duty trucks, methane reductions from fracking, and limiting GHG emissions from new and existing power plants.
“The total cost from these 15 measures is $230 billion in net present value costs, more than $26 billion in annual burdens, and 2.9 million paperwork burden hours,” the report said.