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Green New Deal Summary

By:
Edward A. Reid Jr.
Posted On:
Mar 12, 2019  at  at 6:00 AM
Category
Climate Change

 

 

This series of commentaries has evaluated various aspects of the “Green New Deal” (GND) focused on reducing US emissions of “greenhouse gases” to avoid a projected climate catastrophe.

 

These commentaries have identified a deadweight loss of approximately $62.5 trillion, mostly resulting from the abandonment of energy resources and energy industry infrastructure. They have also identified costs of approximately $3.5 trillion for a national high-speed rail network; approximately $18 trillion for building retrofit and reconstruction; and, between approximately $3–9 trillion for electric vehicle infrastructure. This represents a total investment requirement of approximately $25-30 trillion.

These commentaries have not addressed the non-emissions related aspects of the GND. Dr. David Wojick has estimated that the total cost of the GND would be approximately $100 trillion, or approximately 50% of the US gross domestic product over the 10-year implementation period.

The GND would require major changes in US society and in the US economy. It exists today only as non-binding House and Senate resolutions. The GND resolutions have 64 House and 9 Senate Democrat co-sponsors, including 6 announced Democrat 2020 presidential candidates. This would appear to assure that the GND will be a subject of very active discussion during the 2020 presidential campaign and numerous 2020 House and Senate campaigns.

The climate change aspects of the GND might well be a “stalking horse” for the socialistic and redistributionist aspects of the GND; and, on a global scale, for the UN Agenda 21.

The concern regarding potential catastrophic anthropogenic climate change remains based strictly on projections produced by unverified climate models fed with uncertain climate sensitivity, forcing and feedback estimates. These remain poor justification for extremely extensive and expensive societal change.