If these market internals remain resilient on a reasonable pullback, we could move about 1 % of assets into call options (essentially maintaining our defense against
losses but allowing some participation in advances
at the
cost of
modest time decay if the market is flat).
It adds that job
losses would be minimal; the new carbon market would create new jobs; that the manufacturing sector will lose a few jobs; that household consumption will fall by only one percent
at worst; that increases in energy
costs would be
modest; and that overall
costs would be small enough to permit expansion of programs to offset the burden for low - income households.