[Congressional Record Volume 144, Number 142 (Saturday, October 10, 1998)]
[Extensions of Remarks]
[Page E2023]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                         GLOBAL WARMING TREATY

                                 ______
                                 

                            HON. KEN CALVERT

                             of california

                    in the house of representatives

                        Friday, October 9, 1998

  Mr. CALVERT. Mr. Speaker, yesterday I submitted a portion of a study 
performed by the Business Roundtable which details the devastating 
economic consequences that could occur if the United States ratified 
the global warming treaty negotiated in Kyoto last December. Today I am 
submitting the introduction of a similar study performed by the CONSAD 
Research Corporation, one of the foremost economic research 
organizations. I would urge all my colleagues to consider this analysis 
as the debate surrounding the Protocol continues.
  Finally, I would encourage all Members to review a report the 
Department of Energy's own Energy Information Administration released 
today. The report is just one more warning of the possible disastrous 
consequences of ratifying the Protocol. The report can be found on the 
Internet at www.eia.gov.

 The Kyoto Protocol: A Flawed Treaty Puts America at Risk


             SECTORAL AND REGIONAL ECONOMIC IMPACT ANALYSIS

                              Introduction

       CONSAD Research Corporation, one of the Nation's leading 
     economic forecasting firms, conducted a May 1998 economic 
     analysis of the proposed Kyoto Protocol. Their analysis 
     parallels findings by other leading economic forecasters 
     which detail the negative impact this treaty will have on 
     employment, economic output, and standard of life for working 
     families, senior citizens, and those who live on fixed or 
     low-incomes. The study provides a 50 state breakdown of job 
     losses And economic dislocation due to policies enacted to 
     implement the Kyoto Protocol.
       CONSAD Research's key findings are that, implementation of 
     the Kyoto Protocol will mean:
       Consumers and businesses will be forced to pay higher 
     energy costs. the resulting increase in energy costs will 
     also drive up prices on all consumer goods;
       Approximately 3.1 million fewer American workers will be 
     working in the year 2010 as a direct result of this treaty 
     (assuming high permit fee range);
       U.S. Gross Domestic Product (GDP) in the year 2012 will 
     decline by the least $177 billion and perhaps by as much as 
     $318 billion;
       Key strategic industries (aluminum, pulp and paper, 
     chemical, and others) will experience persistent employment 
     losses as well as losing market share for these products in 
     international markets;
       Every region of the U.S. will experience increased 
     unemployment due to the treaty, with the greatest loses 
     occurring in California, Arizona, Louisiana, Oklahoma, and 
     Texas;
       The highest job losses will be in high-skilled, high-wage 
     employment sectors, with many U.S. workers being forced to 
     take employment in lower-paying jobs in service-related 
     industries rather than facing prolonged periods of 
     unemployment; and
       The U.S. standard of living will decrease as working 
     families are forced to reduce consumption of goods and 
     services in every major category--including food, energy, and 
     health care.

     

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