State greenhouse gas programs aimed at reducing emissions to 7 percent less than 1990 levels could cost the average state government $3.2 billion in direct expenses and lost revenues, or 28.6 percent of an average state government's 2001 revenues. Consumers and businesses would have to pay even more: approximately $10,000 a year in lost income and higher prices. The benefits of reducing emissions are likely to be nonexistent; even worst-case scenarios suggest benefits are an order of magnitude less than the expected cost. The scientific basis of global warming theory is too uncetain to justify greenhouse gas reduction efforts. Policymakers should direct their efforts at encouraging sequestration and adaptation and repealing laws that discourage energy conservation.
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