Utah consumers could face billions in losses from a state or regional cap-and-trade policy approach to climate change, a survey said.
The Utah Farm Bureau reported if the state adopted greenhouse gas emission regulations similar to the stringent ones in California, it would cost the state billions of dollars in household incomes, eliminate thousands of jobs and restrict Utah's competitiveness with other states, the Western Business Roundtable said Monday in a news release.
Because Utah enjoys access to low-cost, coal-fired electric generation, cap-and-trade policies would affect the state more harshly than states such as California that don't have access to affordable coal supplies and may prosper under cap-and-trade policies, the study said.
"This study is a pretty harsh wake-up call for Utah consumers," said Jim Sims, president and chief executive of the Western Business Roundtable. "Its message is clear: Utah consumers had better be prepared to see their utility bills skyrocket and jobs evaporate in Utah" if the so-called California-style approach of regulation is adopted.
Copyright 2007 by United Press International
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