New York’s Democratic-run state Legislature might enact one of the most radical energy mandates on the planet. The Climate and Community Protection Act would require that greenhouse-gas emissions from all sources be halved by 2030 and reach zero by 2050.
Nada. Zero. Zilch.
That would mean retooling the entire state economy, which will be accomplished central-planning-style, with lots of committees and working groups. The climate-justice working group, for example, will be tasked with identifying which New Yorkers receive 40 percent of a carbon-tax bounty that will be hoovered up from residents and businesses.
Other unelected bureaucrats will impose a combination of performance standards — emissions limits that will effectively ban fossil-fuel use — and set those carbon taxes.
The state’s existing Clean Energy Standard calls for reducing emissions by 80 percent by 2050. But the CCPA will require the entire economy to be run solely on electricity generated with renewable energy resources, primarily wind and solar power. Transportation, which today accounts for 40 percent of the state’s energy consumption, will have to be powered solely by electricity — even the Staten Island Ferry.
Jonathan A. Lesser, PhD, is an adjunct fellow at the Manhattan Institute and the president of Continental Economics, an economic litigation and consulting firm.