Virginia’s economy will certainly be affected if Congress passes landmark legislation aimed at reducing greenhouse-gas emissions through major changes in the nation’s energy policy. But whether the changes could be good or bad depends on who is doing the research. Critics yesterday charged that the American Clean Energy and Security Act would lead to higher energy prices and cost Virginia hundreds of thousands of jobs over the next 40 years. An environmental advocate, however, argued the legislation would have the opposite effect.

The Richmond region has lost more jobs than any other metro area in the state, an economist said yesterday. From when employment—the number of jobs—peaked in the Richmond area in August 2007 through March 2009, the region lost 26,000 jobs. The job losses included thousands resulting from the bankruptcies of Circuit City Stores Inc., LandAmerica Financial Group Inc., and Qimonda AG.

A global-warming measure before Congress would drive up energy costs, analysts said at a conference in Henrico County yesterday. The so-called cap-and-trade measure would limit the amounts of heat-trapping gases that power plants, refineries and other industries could release. Those limits would make relatively cheap energy, such as that from coal—a major source of greenhouse gases—more expensive, analysts said.