Climate Change Legislation: What It Means to Businesses

Kiplinger reports:

Whether you believe it’s needed or not, climate change legislation is a solid bet. There’s a slim chance it will squeak through Congress this year, but a much greater one that, come 2010, legislation to curb emissions of carbon dioxide will become law.

The impact will be both wide and deep, paring about 2.3% from gross domestic product in 2030.

The costs of fuel and electricity will soar, despite the swift growth in alternative sources of energy, such as solar, wind power and geothermal. New regulations will add as much as 20% to utility rates by 2020. And that’s over and above any increases anticipated from changes in supply and demand. All told, the average cost for residential, commercial and industrial users may be 50% higher than today. In areas such as the Midwest and Southeast where coal fired power dominates, a 100% hike is likely.

The environmental movement is your enemy: make no mistake.