Cap-and-Trade and Michigan's Economy
On April 26, Dr. Margo Thorning spoke at a Mackinac Center Issues & Ideas forum in Lansing. Thorning, vice president and chief economist with the American Council for Capital Formation, explained that legislation attempting to limit greenhouse gas emissions would disproportionately hurt Michigan — without making a dent in global carbon levels.
Because of Michigan’s cold winters and industrial economy, cap-and-trade requirements, Thorning said that under cap-and-trade, "By 2030, gross state product could be between $12 billion and $16 billion lower." On the employment front, Thorning predicted there would be "between 66,000 to as many as 90,000 fewer jobs" in Michigan by 2030.
Meanwhile, she said, global CO2 levels would be effectively unchanged by U.S. cap-and-trade efforts.
The archived simulcast is available here.