Maine Heritage Center Issues New Study on Cost-Effective Climate Change Policy

Study depicts alternative method for reducing green house gases that would not have such an immediate and draconian effect on the U.S. and Maine economy.

Published: 27-May-2005

LAND -- The Maine Heritage Policy Center (MHPC) today released "Climate Change policy: A Cost-Effective Strategy for the U.S. and Maine," a policy paper that lays out the economic costs associated with the "targets and timetable" approach in the Kyoto Protocol and offers instead the reduction in energy intensity as an effective alternative solution to reducing green house gases. The report is a comprehensive review that includes dynamic economic modeling. The report is available online at www.mainepolicy.org.

Margo Thorning, Ph.D. the senior vice president and chief economist of the American Council for Capital Formation and a Senior Visiting Fellow at The Maine Heritage Policy Center authored policy paper. Dr. Thorning is an internationally recognized expert on tax, environmental, and competitiveness issues.

"This report represents a thorough quantitative analysis of how the 'targets and timetable' strategies to curb green house gases would negatively impact the U.S. and Maine," said Bill Becker, executive director of the Maine Heritage Policy Center. "Dr. Thorning's report displays the importance of cost-benefit analyses while crafting public policy."

The report analyses the economic consequences of Maine endorsing climate policy legislation modeled on the New England Governor/East Canadian Premier's agreement. The proposal uses the Kyoto-type targets and timetable approach to cap greenhouse gas emissions at 1990 levels by 2010, reduce the cap to 10% below 1990 levels by 2020, and then reduce emissions to between 75% to 85% below 2000 levels by 2050.

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