White House: Cut Carbon Now, or Pay $150B a Year Later
Climate change costs could jump 40% each decade
By Jenn Gidman, Newser Staff
Posted Jul 29, 2014 7:36 AM CDT
In this Feb. 25, 2008, file photo, the chimneys of a coal power plant.   (AP Photo/Frank Augstein, File)

(Newser) – When it comes to climate change, the United States can pay to cut carbon emissions now, or we can pay about $150 billion a year down the road as costs soar by about 40% a decade, according to a White House Council of Economic Advisers analysis out today, as per the New York Times. The main reason, as cited by Mashable: Dodging emissions cuts now "means steeper reductions will be required at a later date to reach a given temperature target." The report comes ahead of a coal-focused EPA proposal to slash carbon dioxide emissions by 30% by 2030; that plan, which could shut hundreds of coal-powered plants, faces scrutiny this week vis-a-vis hearings across the country.

Based on an analysis of 16 different studies on climate change, the White House report warns about the economic impact of “climate catastrophes,” including elevated sea levels and rising temperatures—and says that getting a handle on carbon emissions would serve as a sort of "climate insurance," notes Time. The cuts are catching heat, adds the Times, from sources including Mitch McConnell, a Koch brothers-backed Tea Party group that complains the "EPA is waging a war on traditional affordable energy," and, not surprisingly, the American Coalition for Clean Coal Electricity. But Dems are pitching it as fiscally responsible. "It’s becoming clearer and clearer that if you care about the deficit, you need to care about climate change," says Sen. Patty Murray. Also on the docket for today: new mandates on methane, reports CNN. The White House's latest report follows May's pretty dire National Climate Assessment.

View 2 more images
More From Newser
My Take on This Story
To report an error on this story,
notify our editors.
White House: Cut Carbon Now, or Pay $150B a Year Later is...
Show results without voting
You Might Like
Showing 3 of 138 comments
Aug 6, 2014 5:02 PM CDT
White House: Cut Carbon Now, or Pay $150B a Year Later. And lose 100,000's Jobs... And see manufactures do business else where ........ And watch your food cost go up another 50%.... And see fuel prices go up to 6.00 a gallon.... And watch your electric & Gas bill go threw the roof so we can freeze a little more Durant the winter months.... I smell Al Gore again, this man and the liberal democrat leftist,,,,,,, will do anything to screw the poor, and the middleclass people.... There's no such thing as Global warming, It's all about making money with this B.S. clean air act for the EPA & leftist Liberals Demigod's...
Aug 4, 2014 6:54 PM CDT
The 45% marking this ridiculous will surely pray the global warming away; it was proven to work in other cases like praying the gay away.
Jul 31, 2014 9:05 PM CDT
Steeper reductions will be required at a later date to reach a given temperature target? These people are nuts!