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Editorial: SECOND OF TWO PARTS: The climate bill’s costs

06/08/2009
In case anyone missed the National Petrochemical & Refiners Association estimate for costs awaiting US refiners from climate-change legislation approved last month by a key House committee, here it is: $58 billion/year. That’s “billion” with a “b.” And it’s not $58 billion over a decade or two. It’s $58 billion every year. And it would grow.HR 2454, the American Clean Energy and Security Act, would hit refining harder than most other US industries. Refiners would face the earliest possible compliance mandate and receive disproportionately low emissions allowances under the bill’s cap-and-trade scheme. And they’d have to meet limits...
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