California touts new warming law as boon to economy

Fri, 2007-03-02 09:07Bill Miller
Bill Miller's picture

California touts new warming law as boon to economy

Their testimony came in the third in a series of hearings Senator Barbara Boxer, chair of the Senate Environment and Public Works Committee, is holding prior to drafting national legislation. On March 21, former Vice President Al Gore, whose movie on global warming recently won an Oscar for documentary films, will appear before her committee.

Boxer had hoped California's forecast of a huge financial dividend from controlling emissions would help soothe the discontent of some committee Republicans skeptical about global warming and fearful of the impact curbs will have on the economy.

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In Washington, the powers that be are considering a plan for carbon emissions that targets changes in the climate as well as global warming. The plan could end up costing the United States economy from 1.8 million all the way up to 2.4 million jobs over the next twenty years. Many lawyers are answering questions everyday from clients who are concerned about the plans that the Obama administration and the Democrats to put fees and caps on pollution and carbon emission. The bill could cost consumers a great deal. It is estimated that the average household by 2020 could lose as much as $250 each year.


If you want to see the future of the shale industry — what today's drilling rush will leave behind — come to Bradford, Pennsylvania.

A small city, it was home to one of America's first energy booms, producing over three quarters of the world's oil in 1877. A wooden oil rig towering over a local museum commemorates those heady days, marking the first “billion dollar oil field” in the world.

But times have changed dramatically in Bradford. Most of the oil has been pumped out, leaving residents atop an aging oil...

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