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Global warming bill to drive up gas prices, says study

WICHITA – A study of a new cap-and-trade bill now in Congress aimed at reducing greenhouse gases shows that, if enacted, it would cut Kansas’ economy by $310 million to $532 million a year by 2020. And yet, said study author Margo Thorning, it really wouldn’t do much to curb greenhouse gases worldwide because China and India have done nothing. Her take is that the U.S. needs to focus on getting agreements with emerging economies, more R&D to lower the price of alternative energy and carbon capture technologies, and changes to the tax code to encourage producers to invest in greener technologies.

The study is by the National Association of Manufacturers and the American Council of Capital Formation.

Other findings:

By 2015, gasoline prices would rise 6-9 percent and natural gas by 16 to 25 percent. As a result, Kansans’ disposable income would fall $130 to $261 per year.

By 2020, gas prices would rise to 19-24 percent and natural gas by 64 to 77 percent. Kansans’ disposable income would fall $851 to $1,397 a year.

By 2030, Kansas would have lost between 21,417 and 29,168 jobs because of the higher energy costs.