The Energy Information Administration (EIA) recently completed an analysis of S. 139, a climate change bill sponsored by Sen. Joe Lieberman (D-Conn.), and cosponsored by Sen. John McCain (R-Ariz.), along with 5 others. Simply put, S. 139 would implement the Kyoto Protocol, the flawed, unworkable international global warming treaty that the Senate effectively rejected, 95 to 0. EIA found that S. 139, just like Kyoto, would have disastrous effects on the U.S. economy.
And to what end?
According to the Energy Information Administration, energy-intensive manufacturing sectors would be adversely affected by S. 139. The value of shipments for energy-intensive sectors as a group declines by 1.5 percent, a significant drop. In particular, bulk chemicals would decrease by 2.6 percent, refining by 2.1 percent, steel by 2.8 percent, and aluminum by 3 percent.
EFFECT: S. 139 would greatly worsen an already depressed U.S. manufacturing economy. According to the National Association of Manufacturing, after a significant recession in 2001, the 2002-2003 manufacturing recovery has been the slowest on record; during this time, over two million jobs have been lost. Arizona has lost 25,000 factory jobs since 2000, an 11.6 percent reduction of state manufacturing employment. Connecticut has suffered a similar fate, and could get much worse under S. 139: the state has lost 27,800 factory jobs since 2000, a 10.5 percent reduction of state manufacturing employment.
