New calculations applied to a U.S. Senate report reveal the Environmental Protection Agency's plan to combat global warming through regulation of greenhouse gases would theoretically take over $700 trillion, seven times the world's gross production, to drop the earth's temperature only 1 degree Celsius.
The report released last year by Sen. James Ihnofe, R-Okla., then-ranking minority member of the Senate Committee on Environment and Public Works, quotes the EPA's own stats and experts to break down the numbers, including one researcher who called the Obama administration's plan "absurd."
Citing a study by the EPA's Dr. Linda M. Chappell and various other sources, the Senate report asserts, "EPA has called the consequences of regulating greenhouse gases under the [Clean Air Act] 'absurd,' affecting 6.1 million sources, introducing $78 billion in annual costs, causing 'at least a decade or longer' of permit delays, 'slowing' construction nationwide for years, 'introducing burdens that are administratively 'infeasible,' 'overwhelming,' that will 'adversely affect national economic development,' while impacting sources 'not appropriate at this point to even consider regulating.'"
And the net effect of the greenhouse gas regulations that the Republican senators are decrying?
The EPA calculates in 75 Federal Register 25,495: "Global mean temperature is estimated to be reduced by 0.006 to 0.015 degrees Celsius by 2100."
So in effect, by the year 2100, 90 years worth of $78 billion per year in spending – a total of over $7 trillion dollars – would have lowered the earth's temperature by about one-hundredth of a degree Celsius.
In other words, the U.S. would be paying for a global warming elixir that reduces temperatures at the net rate of $700 trillion per degree. Numbers-crunchers estimate that would amount to roughly 700 warehouses filled with $100 bills, or a stack of the bills nearly 70 miles high.