Found here. My comments in bold.
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This whole thing is completely nuts.
Essentially, this is a tax on fossil fuel-producing companies, the proceeds of which would be distributed to consumers to offset the increased cost of purchasing fossil fuels. If you're wondering how simply taking money from gas and coal companies and giving to consumers will create jobs, lower carbon emissions, or really do anything at all, go to the head of the class.
I discuss this in more detail here, here, here and here.
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The Energy Innovation and Carbon Dividend Act (HR 763) will drive down America’s carbon pollution and bring climate change under control, while unleashing American technology innovation and ingenuity. It’s an effective, bipartisan climate solution that is good for people and good for the U.S. economy. Over a 10-year period it would collect and distribute $2,924 billion in revenue returned directly to American households. This would offset the higher fossil fuel costs.
So, how would this affect coal and gas workers? Their jobs come and go, depending on the economy, automation, energy prices and the growth of renewable energy. In 1985, there were 250,000 oil and gas workers, and 175,000 in coal mining. In 2019, those numbers are 150,000 and 50,000, mainly due to automation. A printable paper, A New Day for the Coalfields Newday4.homestead.com, estimates that support for laid off coal miners and their communities when they lose jobs will cost about $25 billion over 10 years, or less than 1 percent of likely carbon pricing revenue.
In that same 10 years, coal for electricity will disappear, leaving 50,000 coal miners out of work, according to REMI 2014.
Recently, Sens. Daines and Tester, and Rep. Gianforte have begun to work in a bipartisan way on public lands. It would be great to see them work together on this bill that creates 2.1 million jobs in 10 years, and add a provision to fund the coal community transition with a fraction of the HR 763 revenue!
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