REMI is a highly respected research group that serves clients like Price Waterhouse Coopers, the Nuclear Energy Institute, the National Federation of Independent Business and the American Gas Association. REMI ran a 20-year analysis that examined a steadily rising fee on carbon pollution that returns 100% of revenues back to American households as a monthly dividend.
The startling results of the analysis found that over 20 years such a policy would have the following beneficial effects as compared to not implementing the policy:
· Add an additional 2.8 million jobs to the economy
· Grow the GDP by an additional $1.38 trillion
· Save 227,000 American lives because of cleaner air
· Cut CO2 emissions to 50% of 1990 levels
· Raise the average American family’s annual income, even accounting for the cost of living
Amazingly, this analysis shows that even if a carbon fee and dividend policy had no positive environmental effect it would be a wise policy solely for the purpose of stimulating economic growth. How does it do that? It charges some of the richest corporations in the world for the pollution they emit into our air and then puts that money into families' pockets where it will be spent. The study found that labor-intensive industries like retail, services and healthcare would do especially well. Construction, auto manufacturing, and real estate also show more economic growth with this policy than without it.
Addressing global warming and growing the economy is not a cats & dogs mix after all; they actually go hand in hand. We have every reason to encourage our Members of Congress to enact carbon fee and dividend legislation, and quickly. Not only will it grow our economy, but it will also help stabilize our climate. We can embrace both environmental peace and economic prosperity. And we must because this is the only home we’ll ever know. We are forever…Earthbound.