CO2
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Prices vs. contracts: Why good CO2 policy needs complex financial markets
Economic theory is predicated on the thesis that if supply and demand are allowed to freely set the price for a given item, rational capital allocation (and a host of other social benefits) will follow. Much of public policy is predicated on the truth of that thsis. But there’s a problem with the thesis: price […]
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Cap-and-dividend: the worst possible way to regulate GHG emissions
Cap-and-dividend stinks. There are probably worse ways to regulate GHG emissions, but none that have gotten any kind of traction inside the beltway. Its advocates — in particular, Peter Barnes and Sen. Maria Cantwell (D-Wash.) — are, so far as I can tell, truly motivated to find good policy solutions. I don’t know either of […]
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American Enterprise Institute accidentally makes the case for climate legislation
Several folks have already taken note of this but I wanted to add a few thoughts. Mark Perry at the American Enterprise Institute seems to be inadvertently making the case for climate change legislation. First, he lists a series of things environmentalists predicted would happen assuming business-as-usual levels of pollution. Then, using this chart, he […]
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If it does matter where CO2 is released, cities are in trouble
There’s some fascinating new research about “CO2 domes,” invisible clouds of carbon pollution that hover above urban areas. Bradford Plumer at The New Republic does a great job setting the context: Does it matter where carbon dioxide is emitted? From a climate perspective, at least, the standard answer has always been, “Not really.” Carbon dioxide […]
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Zero-Carbon Buildings
The building sector is responsible for a large share of world electricity consumption and raw materials use. In the United States, buildings—commercial and residential—account for 72 percent of electricity use and 38 percent of CO2 emissions. Worldwide, building construction accounts for 40 percent of materials use. Because buildings last for 50–100 years or longer, it […]
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It's cold outside — What happened to global warming?
We've heard a lot of talk lately from deniers that cold temperatures are proof that there is no such thing as global warming.
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When it comes to energy, Mark Jacobson thinks big
Mark Z. Jacobson, director of the Atmosphere/Energy Program at Stanford University, is an unusual figure in the field of climate change. He literally wrote the book on computer modeling for atmospheric changes, and he is a respected expert in the impacts of energy production and use. But what truly sets Jacobson apart is his vision. […]
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Climatologist Richard Alley Explains Why CO2 Changes Lag Temperature Changes
In his talk to thousands of scientists this week at the American Geophysical Union, Dr. Richard Alley, perhaps the best communicator of all climatologists today, offered a simple metaphor to explain how changes in levels of carbon dioxide in the atmosphere can lead to a rise in global temperatures, even if the CO2 changes lag […]
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Can perfect markets induce capital investment?
Question: are there any examples of a completely free market inducing investment in mature, capital-intensive industries? I’m not sure there are. More problematically, I’m not sure that economists and policy makers appreciate this reality. The result is that we continue to create markets — from electricity to CO2 — that by design are incapable of […]