KiraMarch
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The only way to limit carbon emissions...
Fascinating story, Tom. Among other things, it shows that a particular price doesn't necessarily lead to the consumption changes that economists predict. In a complex market like energy, it's impossible to anticipate all the factors. A price that everyone thought was enough to keep us at home in the dark somehow became business as usual.
That's why a legal limit on global warming pollution is the only sure way to tackle global warming. We have to get carbon emissions down to the target level. We don't have leeway to mess with uncertain, indirect controls like taxes. People thought $80 a barrel for oil would drastically alter consumer behavior. But it didn't. Any tax is vulnerable to the same mistake.
The only way to cap carbon emssions is to set a cap on carbon emissions.On Why $100-per-barrel oil would be no big deal posted 2 years, 1 month ago 12 Responses
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Mankiw's misconceptions
There are a few problems with Mankiw's arguments.
One is his view that carbon tax revenue would be used for "good" purposes, and that a carbon cap would raise no money. In reality, it could cut either way -- under a cap, revenue from an auction of carbon allowances could fund good things, and carbon tax revenue could get shanghaied into support for heavy carbon-emitting interests (oil companies hold no sway with Congress, right?).
Nat Keohane, the director of Environmental Defense's economic policy and analysis, did a post on this yesterday... it outlines other troubles with Mankiw's column, and is quite accessible, especially for one econ PhD arguing with another econ PhD. :-)
http://environmentaldefenseblogs.org/climate411/2007/09/1 ...On Conservative economists agree: Taxes rule! posted 2 years, 1 month ago 5 Responses
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All the docs from the filing
...can be found here, if you are so inclined:
http://environmentaldefense.org/secOn Investors petition SEC to require companies to disclose climate risk posted 2 years, 1 month ago 3 Responses
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And add these, too...
David, you're right on to focus on how to make sure the cap and trade system does the job.
Sean, cheers for the economy-wide provision.
And I have two more for the list:
- Include a standard for biofuels. America's farmers can be a huge part of slowing global warming, but not all biofuels make the cut.
- Make sure the government doesn't prop up particular technologies. We need inventiveness, flexibility and results, not favored technologies picked by Congressmen with consituents to please.
- Include a standard for biofuels. America's farmers can be a huge part of slowing global warming, but not all biofuels make the cut.
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nice clear post, thanks!
Good job explaining a complex policy proposal!
And just to echo -- what makes this cost containment strategy so promising is that it keeps the environmental goals front and center. On Moderate senators are ready to get on board posted 2 years, 3 months ago 3 Responses