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Cost of Climate Change

Cost of Climate Change. Climate Change Symposium Carolyn Sampson Minnesota Rural Electric Association. Minnesota Rural Electric Assoc. Our members 44 electric distribution and 6 generation and transmission cooperatives throughout rural and suburban Minnesota 1.8 million people

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Cost of Climate Change

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  1. Cost of Climate Change Climate Change Symposium Carolyn Sampson Minnesota Rural Electric Association

  2. Minnesota Rural Electric Assoc. Our members 44 electric distribution and 6 generation and transmission cooperatives throughout rural and suburban Minnesota 1.8 million people Consumer members from across the political spectrum

  3. Proposed Climate Change Solution “Cap” amount of CO2  produced (power plants = 40% CO2 produced) Lower cap annually with a goal of 80% CO2 reduction by 2050 (2005 baseline)

  4. Economic Impact by income Who is affected Low Middle High (< $18k)  (<$56k) (>$88k) $612 – 6.2% Impact $1,100-2.4 % Impact$2,091 – 1.4% Impact “Average” MN electric co-op consumer:  20% below state per capita income *According to the Tax Foundation

  5. Meanwhile—EPA is acting Massachusetts v. EPA (2007) “Endangerment Finding” -- leads to CO2regulation

  6. Projected Cost to Minnesotans Minnesota #2 in CO2 intensity  1 kWh of electricity produces 2.21 pounds of CO2(avg. household consumes 600 kWh per month) $20 per metric ton of CO2 (conservative estimate)  $22 electric bill increase (24%) per month per household Economic impact per household$1066-$3455* (by 2020) *National Association of Manufacturers (EIA data – DOE division)  Jobs lost 22,000 – 34,000 (by 2020)

  7. Global Results: Complete reduction of emissions in Minnesotawould be eclipsed within 6 weeks by global emission Said another way – Next Generation Act (80% reduction by 2050 on 2005 baseline) would have absolutely no effect on global climate Yet a state-imposed carbon tax would raise cost on almost all consumable goods

  8. Prospect of Global Gaming Governance Indicators 3 (country’s percentile rank) Government Regulatory Rule of Control of EffectivenessQualityLawCorruption U.S. 90-100th90-100th 90-100th 75-90th China 50-75th 25- 75th 75 - 80th 25-50th EuroUnion 75-80th 75- 80th 75 - 80th75-80th Russia 25-30th 0 - 25th 0 - 25th 0 -25th India 50-75th 25 - 50th 50 - 75th 50-75th * According to World Bank

  9. Join the Campaign www.OurEnergyMN.coop

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