Jennifer A. Dlouhy, Hearst Washington Bureau
Thursday, October 15, 2009
Although nationwide employment is likely to remain stable under congressional proposals to combat climate change, the initiatives would deal a heavy blow to those working for petroleum refiners and other industries tied to polluting fossil fuels, a government economist said Wednesday.
Douglas Elmendorf, director of the Congressional Budget Office, told the Senate Energy and Natural Resources Committee that legislation to limit greenhouse gas emissions blamed for climate change would "shift production, investment and employment away from industries involved in the production of carbon-based energy and energy-intensive goods and services."
Instead, he said, capital and jobs would go "toward industries involved in the development and production of alternative energy sources," such as wind and solar power.
*Posted by Shelby. "Interesting to hear information alternative to the frequently argued position that climate change laws will be economically catastrophic."