Bush: Climate bill would raise gasoline prices

Supporters counter that cost of inaction would be even greater

WASHINGTON – Playing the gasoline card, the Bush administration on Monday predicted that a climate change bill before lawmakers this week could raise pump prices by as much as 53 cents a gallon by 2030.

He also estimated that the bill could cut U.S. economic growth by as much as 7 percent in 2050.

White House spokeswoman Dana Perino later said that “as the legislation is drafted, if it were to pass in its current form, the president would veto it.” But, she added, “it’s very unlikely to pass the Senate anyway.”

MSNBC