New back of the envelope estimates of the cost of climate change mitigation in the U.S.

Rob Elliot at Globalization and the Environment calls our attention to a $533 billion climate change scare story. He says:

No wonder support for dramatic action to curb the excesses of US energy consumption to aid the reduction of greenhouse gases is on the weak side among US consumers, politicians and producers when figures like this are thrown about.

I am too lazy to do the maths but $533 billion over 21 years as a percentage of total US output is probably not that severe and could be achieved. ...

The numbers are from the U.S. Energy Information Administration in the Senate Climate Bill as reported by this Planet Ark article with this misleading headline: Senate Climate Bill Shaves $533 Billion off US Economy.

Over 21 years, a cost of $533 billion is about:

• 0.21% of an $11 trillion US economy with a zero growth rate
• $85 per person per year based on a population of 300 million people

Comments

[Erik Nordman]

I went to one of those carbon offset websites this morning (Friends of the Forest Carbon Capital Fund). They offer to offset an individual's carbon footprint for $6 / metric ton. They estimate an average annual carbon footprint of ~10 tons, costing about $60 annually. That's pretty close to your calculation of $85 annually.