“If you assume, you make an ASS out of U and ME.” Yes, that old ditty from grade school has direct relevance from time-to-time. The atrocious ACCF/NAM study on the fiscal implications of climate legislation seems to take this adage to a new level.
As already noted in Lies, Damned Lies, Statistics, and Statistics from industry on pollution control costs, this report works with absurd assumptions, such as that the annual wind power introduction into the electricial grid will have an upper limit lower than what occurred in 2007. Reminder: wind power installations (in the US and globally) have been growing over 20 percent year. This study assumes (makes ASSes out of U and ME, Seriously) that the installation rate goes backward. Where they can be determined, the so-called “study”’s assumptions run counter to common sense.
Footnotes matter and this “report” done by SAIC for the American Council for Capital Formation (ACCF) and the National Association of Manufacturers (NAM) has a doozy of a note. Page 3, Footnote 4, the last sentence reads:
Conducted by Science Applications International Corporation (SAIC), the independent study examines the implications of the legislation with respect to future energy costs, economic growth, employment, production, household income and the impact on low income earners.