What could the United States do with an extra $465 billion? Free healthcare? Free college tuition? Tax cuts? Heck, they could even buy the Yankees. And the best part, not only would the U.S. be saving all that money, they would radically cut CO2 emissions by 80% over the next 40 years, according to a study released by the Union of Concerned Scientists (UCS).
“We have a historic opportunity to reinvent our economy, tackle global warming, and cut energy costs. Setting a limit on heat-trapping emissions would ensure that we make the necessary carbon emission reductions to help avoid the worst consequences of climate change. Combining a carbon cap with strong efficiency, renewable electricity, and transportation standards can deliver those emission cuts and save Americans a substantial amount of money,” says UCS president Kevin Knobloch.
Most of the savings would be on energy bills due to better efficiencies in building and industrial processes, a more efficient transportation system, and cleaner cars. Although a more efficient transportations system and cars would likely cost about $35 billion, drivers would potentially save over $120 billion in fuel costs per year.
“Efficiency and renewable energy technologies are ready today to power our economy with carbon-free electricity. Our blueprint shows that these clean energy sources can lead the way in cutting U.S. emissions, while lowering electricity bills and curbing our addiction to dirty, high-carbon coal power,” says Steve Clemmer, research director of UCS’s Clean Energy Program.
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