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M R E A Cost of Climate Change Climate Change Symposium Carolyn Sampson Minnesota Rural Electric Association Climate Change Symposium Carolyn Sampson Minnesota.

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Presentation on theme: "M R E A Cost of Climate Change Climate Change Symposium Carolyn Sampson Minnesota Rural Electric Association Climate Change Symposium Carolyn Sampson Minnesota."— Presentation transcript:

1 M R E A Cost of Climate Change Climate Change Symposium Carolyn Sampson Minnesota Rural Electric Association Climate Change Symposium Carolyn Sampson Minnesota Rural Electric Association

2 M R E A Minnesota Rural Electric Assoc. Our members 44 electric distribution and 6 generation and transmission cooperatives throughout rural and suburban Minnesota 1.8 million people Consumer members from across the political spectrum Our members 44 electric distribution and 6 generation and transmission cooperatives throughout rural and suburban Minnesota 1.8 million people Consumer members from across the political spectrum

3 M R E A Proposed Climate Change Solution “Cap” amount of CO 2 produced (power plants = 40% CO 2 produced) Lower cap annually with a goal of 80% CO 2 reduction by 2050 (2005 baseline) “Cap” amount of CO 2 produced (power plants = 40% CO 2 produced) Lower cap annually with a goal of 80% CO 2 reduction by 2050 (2005 baseline)

4 M R E A Economic Impact by income Who is affected Low Middle High ( $88k) $612 – 6.2% Impact$1, % Impact $2,091 – 1.4% Impact “Average” MN electric co-op consumer: 20% below state per capita income *According to the Tax Foundation Who is affected Low Middle High ( $88k) $612 – 6.2% Impact$1, % Impact $2,091 – 1.4% Impact “Average” MN electric co-op consumer: 20% below state per capita income *According to the Tax Foundation

5 M R E A Meanwhile—EPA is acting Massachusetts v. EPA (2007) “Endangerment Finding” -- leads to CO 2 regulation Massachusetts v. EPA (2007) “Endangerment Finding” -- leads to CO 2 regulation

6 M R E A Projected Cost to Minnesotans Minnesota #2 in CO 2 intensity 1 kWh of electricity produces 2.21 pounds of CO 2 (avg. household consumes 600 kWh per month) $20 per metric ton of CO 2 (conservative estimate) $22 electric bill increase (24%) per month per household Economic impact per household $1066-$3455* (by 2020) *National Association of Manufacturers (EIA data – DOE division) Jobs lost 22,000 – 34,000 (by 2020) Minnesota #2 in CO 2 intensity 1 kWh of electricity produces 2.21 pounds of CO 2 (avg. household consumes 600 kWh per month) $20 per metric ton of CO 2 (conservative estimate) $22 electric bill increase (24%) per month per household Economic impact per household $1066-$3455* (by 2020) *National Association of Manufacturers (EIA data – DOE division) Jobs lost 22,000 – 34,000 (by 2020)

7 M R E A Global Results: Complete reduction of emissions in Minnesota would be eclipsed within 6 weeks by global emission Said another way – Next Generation Act (80% reduction by 2050 on 2005 baseline) would have absolutely no effect on global climate Yet a state-imposed carbon tax would raise cost on almost all consumable goods Complete reduction of emissions in Minnesota would be eclipsed within 6 weeks by global emission Said another way – Next Generation Act (80% reduction by 2050 on 2005 baseline) would have absolutely no effect on global climate Yet a state-imposed carbon tax would raise cost on almost all consumable goods

8 M R E A Governance Indicators 3 (country’s percentile rank) GovernmentRegulatoryRule ofControl of Effectiveness Quality LawCorruption U.S th th th th China th th th th EuroUnion th th th th Russia th th th th India th th th th Governance Indicators 3 (country’s percentile rank) GovernmentRegulatoryRule ofControl of Effectiveness Quality LawCorruption U.S th th th th China th th th th EuroUnion th th th th Russia th th th th India th th th th Prospect of Global Gaming * According to World Bank

9 M R E A Join the Campaign


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