On the recordMay 1, 2019
There is a lot of misinformation out there about the Paris Agreement, including the idea that it will hurt the U.S. economy. The Paris Agreement will cost little or nothing, and allowing climate change to proceed would certainly be very expensive indeed. A raft of studies from environmental organizations, Citibank, and the Organization for Economic Cooperation and Development all argue that a failure to mitigate the effects of climate change could cost the U.S. economy trillions of dollars. Citi found that investing in low-carbon energy to address climate change would save the world $1.8 trillion through 2040, but not acting will cost an additional $44 trillion by 2060. Mr. Chairman, may I inquire as to how much time each side has remaining. The CHAIR. The gentleman from New York has 12\1/2\ minutes remaining. The gentleman from Texas has 15\1/2\ minutes remaining.
