Climate Cuts from Project 2025 Would Cost Americans Billions Of Dollars Per Year
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August 14, 2024
Project 2025 ― the plan that Republican operatives have drafted as a policy blueprint for a second Trump administration ― would raise Americans’ household energy spending by billions of dollars per year, all while increasing planet-heating emissions by billions of tons and costing the U.S. economy millions of jobs, a new analysis has found.
Gutting federal policies meant to encourage a shift toward greener electricity and electric cars would increase U.S. household spending on fuel and utilities by about $240 a year by 2030, jacking up nationwide costs by a combined $32 billion per year compared to the current trajectory.
By contrast, if the U.S. beefs up its existing climate policies enough to meet its 2030 pledge to halve its emissions, Americans will save $60 per year by the end of this decade. The savings are projected to grow over time: By 2050, U.S. household energy spending would decrease by $700 per year ― delivering cumulative nationwide savings of $110 billion per year.
The findings, published Tuesday by the nonpartisan climate-modeling think tank Energy Innovation, offer stark new evidence against the Trump campaign’s promise to lower U.S. energy prices by reversing President Joe Biden’s landmark climate-spending laws and ramping up fossil fuel production beyond already-record levels.
“Even if we increase oil and gas production in line with what’s outlined in Project 2025, we’re still looking at higher household energy spending,” Robbie Orvis, Energy Innovation’s senior director of modeling and analysis, told HuffPost.
“And that’s compared to current policies,” he added. “If you contrast that with a continued climate leadership scenario where we’re deploying even more clean energy, those are really very big differences.”
Current policies will only get the U.S. halfway to its pledge to the rest of the world to halve its emissions by 2030, the report found, meaning additional regulations and legislation are required to meet the goal.
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https://www.huffpost.com/entry/project-2025-climate_n_66bce83fe4b03d1ac02e0021/amp
