Kerry-Lieberman bill would create 200,000 jobs a year and cut greenhouse gases 22% by 2020, 42% by 2030

(Photo of Diablo nuclear power plant in California from Flickr and photographer Mike Baird)

The Kerry-Lieberman climate bill would spur a surge of 200,000 new jobs a year from 2011 to 2025 and would cut greenhouse gases 22% by 2020 and 42% by 2030, according to a new study by the non-partisan Peterson Institute of International Economics .

The jobs would be largely for construction of new power plants and increased use of biofuel. They would help with the recovery from recession, but would slow to business-as-usual after 2025, the study says.

This first analysis of the American Power Act was released Thursday. It forecasts what the U.S. energy picture will by 2030 if the bill is passed.

The changes will be significant, though not as much as some might hope.

• Fossil fuels will drop to 70% of the energy supply from 84% today.
• Renewable energy will rise to 14% from 8%, with wind growing the most, followed by biomass and then solar.
• Nuclear power will double to 16% from 8%.
• Nuclear and renewables will power about half the electricity.
• Carbon capture and sequestration will be a factor for both coal and natural gas.
• Oil use will drop 33-40% as transportation turns increasingly to ethanol, biodiesel and electricity. U.S. spending on foreign oil will fall to $93B from $144B per year.
• Homes will see about a 3% increase in electricity rates between 2011-2020, while gasoline will rise about 5%. Home heating oil will rise as well. But price increases will be mitigated by increased efficiency and the return to consumers of revenues from purchased allowances.

Two side benefits will be reduction of other pollutants, such as mercury and nitrogen oxides, plus a sizeable reduction in water use.

Download the study.

(Sources: Greenwire, Peterson Institute of International Economics)

U.S. 'timid' on renewables, fuel economy

News Update: The International Energy Agency blasted the U.S. last week for being “too timid” about setting fuel-economy standards and encouraging the use of renewable energy. The CAFE standards of 35 mpg by 2020 passed in December falls way short of the European Union’s mandate of 47 mpg by 2012, the report said. Likewise, failure to approve a renewable electricity standard (RES) – which was blocked in the Senate – or even to extend tax credits for renewable energy – which failed there twice by 1 vote – is hurting investment in infrastructure. The disconnect between American’s energy, environmental and security goals leads to a high and growing dependence on fossil fuels, the report said. (Source: PlanetArk) (Photo of solar panels from Flickr by Marino Kojdanovski and Powerhouse Museum)

Environmental groups fight new coal-fired plants in court
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Abu Dhabi to build zero-carbon, zero-waste city in desert
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Plague's resurgence may be due to Global Warming
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Etc.: Iraq signs Kyoto Protocol (and we don’t) … shipping CO2 emissions 3x higher than earlier estimates, and 4.5% of total released … nations quietly stake claim to Antarctic sea beds … Carbon neutral by 2030 is Norway goal … scientists, journalists and lawmakers set Science Debate for April 18, invite GOP and Dem candidates … insurers limit coverage for homes on East Coast … endangered species status sought for Pacific walrus, victim of Arctic melt and drilling.