EPA Analysis Finds American Power Act Strategy Affordable, EDF Says
An analysis released by the U.S. Environmental Protection Agency confirms that a comprehensive solution to U.S. oil dependence is affordable and within reach, according to the Environmental Defense Fund (EDF).
EPA analyzed the American Power Act, a comprehensive energy and climate bill sponsored by Sens. John Kerry (D-Mass.) and Joe Lieberman (I-Conn.). EPA’s findings (pdf) show that the American Power Act’s objectives can be achieved for a few dollars a month for the average American.
“This new analysis is the latest in a series of studies confirming that we can readily afford a comprehensive climate and energy bill that would boost our economy, reduce our dependence on imported oil and help solve climate change,” said Nat Keohane, EDF’s director of Economic Policy and Analysis.
The analysis shows that the clean energy development in the American Power Act can be met for $79 to $146 per year per household, amounting to $3 to $5 a month for the average individual American. The cost will be even lower at first; EPA projects that key provisions, including those for energy efficiency improvements, will lead to lower household energy bills over the next two decades. Those families expected to be most affected by price changes will receive extra compensation under the American Power Act, so they’ll have an extra layer of protection. The analysis also confirms that the carbon limits in the legislation will help to prevent dangerous climate change, a key environmental objective.