now on climate change or see costs soar, White House says
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[July 29, 2014]
By Roberta Rampton
(Reuters) - Putting off expensive measures to curb climate change
will only cost the United States more in the long run, the White
House said on Tuesday in a report meant to bolster a series of
actions President Barack Obama has proposed to address global
"Each decade we delay acting results in an added cost of dealing
with the problem of an extra 40 percent," said Jason Furman,
chairman of Obama's Council of Economic Advisers.
"We know way more than enough to justify acting today," Furman told
The report drew its conclusions from 16 economic studies that
modeled the costs of climate change. It was released as the U.S.
Environmental Protection Agency holds public hearings on its plan to
cut carbon emissions from power plants - the centerpiece of Obama's
climate action plan.
Business groups have said the EPA's plan would hurt jobs in the coal
sector and harm the U.S. economy.
The White House and environmental groups have pushed back against
Last month, a bipartisan report commissioned by former New York City
Mayor Michael Bloomberg, former Secretary of the Treasury Henry
Paulson and environmentalist Tom Steyer forecast a
multibillion-dollar price tag for climate costs such as property
losses from storms, declining crop yields and soaring power bills
during heat waves.
The Obama administration plans to made additional climate
announcements on Tuesday.
Energy Secretary Ernie Moniz is set to announce actions by his
department to reduce methane emissions from the natural gas
transmission and distribution system, along with partnerships and
"stakeholder commitments," the White House said.
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This fall, the administration is set to propose new rules to cut
methane emissions from oil and gas wells on public lands, and also
will decide whether to propose regulations to address emissions from
operations on private land, said Dan Utech, special assistant to the
president for energy and climate change.
The administration also will announce partnerships with IBM, Amazon,
Microsoft, Coca Cola and others to use data to help make agriculture
and food production more resilient to climate change, the White
(Reporting by Roberta Rampton; Editing by Steve Orlofsky)
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