In today's episode, I interview the American Council for Capital Formation's Senior Vice President and Chief Economist, Margo Thorning about the Environmental Protection Agency's (EPA) regulations aimed at reducing carbon dioxide and other greenhouse gas emissions.

Use the audio player below to listen to information about the article and follow along with the show notes. I hope you find the podcast informative.

00:12 Starting on January 1st this year, the U.S. Environmental Protection Agency began phasing in regulations that are aimed at reducing carbon dioxide and other greenhouse gas emissions from stationary sources. Those sources include hospitals, power plants, refineries and other facilities. But now serious questions are being raised about whether these regulations make sense... more »

On Tuesday, yet another voice spoke out against the proposed climate legislation under consideration in Congress. This time it was Margo Thorning, senior vice president and chief economist at the American Council for Capital Formation (ACCF), speaking before the Senate Finance Committee.

In her testimony, Thorning referenced the findings of a recent ACCF/National Association of Manufacturers (NAM) study that found the House's version of the climate bill would:

• Reduce total U.S. employment (net of new jobs created in green industries) by between 1,790,000 to 2,440,000 jobs in 2030. Manufacturing is hard hit, absorbing between 59 to 66 percent of job losses over the 2012-2030 period; and
• Lower GDP by up to 2.4 percent relative to the baseline forecast in 2030.

Additionally, Thorning speci... more »

Yesterday, the National Association of Manufacturers (NAM) and the American Council for Capital Formation (ACCF) released a study--Economic Impact of the Waxman-Markey American Clean Energy and Security Act--that again demonstrates the significant costs associated with this House-approved legislation. The Senate will soon take up similar legislation that could have a profound impact on Americans' everyday lives, especially if it resembles this version.

The study found that under a high-cost scenario, the House bill could reduce economic growth by 2.4 percent and cost 2 million jobs by 2030. And though the impact of the bill will grow over time, the economy will start feeling the effects of the carbon cap almost immediately.

For more information, read the full study.