Another study, this time attempted by the research teams at the University of California-Berkeley, Yale and Illinois, predicts that a "robust climate change bill" can mean boosting our GDP by $111 billion by 2020. And if action to roll out emission cap-and-trade schemes and adopting green technologies is accelerated, this could lead to as many as between 918,000 to 1.9 million U.S. jobs.
Also angling for the consumer, the study also reveals that average household income stands to grow by between $488 and $1,176 annually as a direct result of the bill. The study was commissioned by Ceres, which is a group of green investors.
Tellingly, though, the predictions rest on some conditions that are a while from being met including requiring all US utility companies to generate at least 20 percent of electricity through renewable resources by 2020. Let's also not forget the accelerated rate of investment this will require in clean technologies. While GE has taken the lead in this, the goal is far from realization.
Of course if investors were willing, our unemployment rate would be much lower today, wouldn't it? Oh well, here's to more research studies and positive predictions. If only ...
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