U.S. Chamber: Misguided Climate Change Policies Will Negatively Impact Michigan's Economy

DETROIT, MI—The U.S. Chamber of Commerce and a group of national and state partners today held a discussion to draw attention to the economic implications future climate change policies could have on Michigan families, workers and businesses.

"Only by considering all the true costs and benefits of climate policy options—meaning not just the environmental impact but the economic impact—and debating it rationally, can we build a clean energy future. The alternative approach — throwing our economy in the water to see if it floats — serves neither the citizens of Michigan nor our planet," said William Kovacs, Chamber vice president of Environment, Technology and Regulatory Affairs. "Addressing greenhouse gas emissions means addressing economic policy."

According to an economic study by the American Council of Capital Formation of the failed "Lieberman-Warner Climate Security Act," an economy-wide cap-and-trade bill and the Senate's main climate change vehicle in 2008, Michigan would have lost up to 121,786 jobs and $20.9 billion dollars in gross state product by 2030, as well as gasoline price increases of up to 141% and electricity price increases of up to 177% if the bill had been signed into law. Today's dialogue featured business leaders, policy and economic experts, and other key stakeholders, and dealt with issues ranging from the costs of legislation like Lieberman-Warner to industry's voluntary efforts to reduce emissions and increase energy efficiency.

The Chamber co-hosted today's dialogue with the Alliance for Energy and Economic Growth, the National Association of Manufacturers, and the Detroit Regional Chamber of Commerce. This is the tenth climate change dialogue the Chamber and its partners have held in 2008.

"Michigan businesses and residents deserve to have their voices heard," continued Kovacs. "We are taking the debate over the costs of climate change policy out of Washington to where it truly belongs: with American consumers who will have to pay the tab."

The U.S. Chamber is the world's largest business federation representing more than 3 million businesses and organizations of every size, sector, and region.

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