The impacts on households and businesses of all kinds would be enormous. A quadrupling of gasoline prices would plunge the U.S. economy into a deep recession. Policymakers should understand the consequences of their proposals

Gasoline Prices Under the Green New Deal Would Reach $13 per Gallon

By Institute for Energy Research —— Bio and Archives--August 7, 2019

Global Warming-Energy-Environment | Comments | Back To Full Article

Many of the Democrats running for President in 2020 support the Green New Deal that was introduced by Representative Alexandra Ocasio-Cortez of New York and Senator Markey of Massachusetts. The Green New Deal, however, would require a $10 tax increase on a single gallon of gas, according to a study by the CO2 Coalition. Key to the Green New Deal is the goal of eliminating gasoline-powered vehicles in favor of electric vehicles. But in order to make electric cars desirable to consumers gasoline prices would have to increase to $13 per gallon. Such a tax would undoubtedly harm consumers and the U.S. economy.

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