All the attention on the energy front today is going to the BP spill, but the Environmental Protection Agency quietly released its long-anticipated analysis of the Kerry-Lieberman climate bill (PDF). The verdict? Much like its counterpart in the House, the bill would impose a “modest” cost on American households, to the tune of $79 to $146 per year (averaged over the period 2010-2050).
The Kerry-Lieberman bill itself appears all but dead, but the timing of the analysis is still critical, as Senate leaders are deciding whether or not to include carbon-capping provisions in the energy bill they hope to debate this summer. The pricetag predicted by the EPA will allow them to claim that the cost of the legislation will be less than a postage stamp a day for an average household. But as Eric Pooley points out several times in his new book “The Climate War,” “it’s not that expensive” just isn’t a very persuasive argument. Instead, Democrats will need to convince the public of the bill’s benefits — and that’s an area where the EPA analysis won’t help much.
David Roberts has a good rundown of the key findings by the EPA today:
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