CBO: Climate bill threatens oil and gas employment

10/26/2009
US oil and gas workers have extra reason to find interesting the Congressional Budget Office's confirmation that cap-and-trade legislation passed by the House of Representatives would diminish employment.A disproportionate number of job losses would occur in their industry.CBO Director Douglas W. Elmendorf told the Senate Committee on Energy and Natural Resources on Oct. 14 that a House climate-change bill passed in June would suppress economic growth and employment.Pointing out losses against expectations without cap-and-trade would be small relative to overall economic growth, he nevertheless refuted claims that the bill would do no damage at all. He said implementation of the House bil...
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