Friday , November 15 2019
Home / Tag Archives: Energy

Tag Archives: Energy

Bans on fracking and nuclear power

If you want evidence that climate policy has become unhinged from science and quantification, becoming more like a religious cult, look no further than the recent Democratic presidential candidates' proposals to ban fracking immediately and nuclear power soon.From Michael Cembalest at JP MorganI'm not a denier. Yes, carbon is a problem, warming is a problem, and a uniform carbon tax, vast expansion of nuclear energy, more renewables, lots of R&D on them, GMO foods, and geoenginnering are...

Read More »

Ip on carbon tax

Over the weekend, Greg Ip at WSJ wrote a  nice piece on the carbon tax.Greg addresses some common objections.This urge to stop at nothing to find an effective solution is understandable. How can you put a price tag on the future of the planet?..Green New Deal backers make another powerful argument: Global emissions levels are still rising, and to reverse them, carbon prices would have to be so high they’d be politically toxic. Better, the activists argue, to simply go straight to a...

Read More »

Carbon tax update

An interesting question emerged from some discussion surrounding my last carbon tax post. How big will the tax be? The letter says $40 a ton, but then rising. But how far? And in response to what question?It occurs to me that the two obvious targets lead to radically different answers.1) The social cost of carbon. This is what economists usually think of as the appropriate Pigouvian tax. In order to pollute, you pay the cost you impose on others by your pollution.Even the worst-case scenarios...

Read More »

Economists’ letter on carbon

The "Economists’ Statement on Carbon Dividends" in the Wall Street Journal this week is a remarkable document. It's short, sweet, and signed by, as far as I can tell, every living CEA chair, every living Fed Chair, both Democrat and Republican, and most of the living Nobel Prize winners. (Thanks to a commenter who corrected an earlier count.)It offers four principles 1. A carbon tax, initially $40 per ton. 2. The carbon tax substitutes for regulations and subsidies and (my words) the vast...

Read More »

Designing Carbon Dividends

Carbon dividends are the hottest idea in climate policy. A diverse mix of progressive and conservative voices are backing the idea of returning carbon tax revenues to households in the form of regular “dividend” payments. So are a range of businesses and environmental groups. Two weeks ago, six House members—three Democrats and three Republicans—introduced carbon dividend legislation. Here is the idea: A robust carbon tax would cut emissions of carbon dioxide and other gases that are...

Read More »

Designing Carbon Dividends

Carbon dividends are the hottest idea in climate policy. A diverse mix of progressive and conservative voices are backing the idea of returning carbon tax revenues to households in the form of regular “dividend” payments. So are a range of businesses and environmental groups. Two weeks ago, six House members—three Democrats and three Republicans—introduced carbon dividend legislation. Here is the idea: A robust carbon tax would cut emissions of carbon dioxide and other gases that are...

Read More »

Carbon Tax

Source: Seattle Times"The carbon tax is dead; long live the carbon tax" is the headline of Tyler Cowen's Bloomberg column on the failed (again) Washington State carbon tax.  And rather decisively, per the picture on the left."Maybe its failure on the ballot in Washington state will inspire economists to come up with better arguments" challenges the subhead. I can't resist.The key question for a carbon tax is, what do you get in return? What do you do with the money? Washington's carbon...

Read More »

Public Land & Prices

I tire of the political arguments in either side of this specific issue when I think a fundamental economic issue gets little attention. Those called the “left” oppose this happening at any price. Those on the “right” want the leases available but tend to think the price should be low for unintelligible reasons. I essentially have two conditions on what lease prices should be. The leases should be available to any buyer. If an energy company wants to buy leases they should be able to,...

Read More »

Cause, effect, and carbon

“As fires rage up and down the state of California, costing our taxpayers billions of dollars and threatening our families’ health—- the need for California to move to 100% clean, renewable energy could not be more urgent,” said Mr. de León in a statement.Sen. Kevin de León, a Democrat who is waging a long-shot run for a U.S. Senate seat against incumbent Dianne Feinstein.Reported in the Wall Street JournalThe context isCalifornia passed legislation Tuesday that would make it the first large...

Read More »