Christie and Climate Change
I posted last week about Governor Christie's support for solar power. He immediately followed that action by vetoing a bill to bring New Jersey back into RGGI, the greenhouse gas trading system of the Northeast states. (RGGI stands for Regional Greenhouse Gas Initiative.) The veto message points out that he had already vetoed a similar bill. He contends that RGGI is just a tax on electricity that fails to reduce emissions. A tax on electricity would presumably redu...
CONTINUE READINGMuller Serves Up a Koch Zero, No Ice.
Physicist Richard Muller reports the results of his research, which was funded by Charles Koch Charitable Foundation. The results were probably not what Koch was hoping for: "CALL me a converted skeptic. Three years ago I identified problems in previous climate studies that, in my mind, threw doubt on the very existence of global warming. Last year, following an intensive research effort involving a dozen scientists, I concluded that global warming was real and that ...
CONTINUE READINGThe Politics of State Energy Deregulation: A Hypothesis
If you are interested in environmental policy, state public utility commissions might be the important agencies you've never heard of. PUCs determine how much power capacity there will be and even more importantly, what the mix of energy sources will generate it. Sometimes pundits will speak of "national energy policy", but that is essentially a null set: there is no national energy policy but rather 50 different energy policies arising in state capitals. (The ...
CONTINUE READINGChristie Goes Solar
New Jersey Governor Chris Christie signed legislation a few days ago to strengthen the state's solar industry. Utilities will be required to 2.05% of their power from solar in 2014, rising to 4.1% in 2028. The law also sets a price cap of $339 for each megawatt-hour short of the goal in 2014. According to the solar industry, the legislation "addresses the current oversupply of N.J. solar renewable energy credits (SRECs), brings stability back to the N.J. solar market, ...
CONTINUE READINGPicking Up the PACE: FHFA Releases Proposed Property-Assessed Clean Energy Rule
It has been a long road for supporters of Property-Assessed Clean Energy (PACE) programs. With the recent release of the Federal Housing Finance Agency’s Proposed Rule on enterprise underwriting standards and mortgage assets affected by PACE programs, some residential PACE supporters may be reasonably fatigued. But while the agency’s Proposed Rule maintains its position that Fannie Mae and Freddie Mac (the "Enterprises") should not purchase any mortgages subject ...
CONTINUE READINGCalifornia State Parks: What’s the Real Scandal?
Make no mistake: the disclosure last week that the California State Parks Department was sitting on $54 million of excess funds while claiming that parks all over the state had to be closed is a real hit. Parks director Ruth Coleman -- actually, a talented and dedicated public servant -- did the right thing and immediately resigned, although as far as anyone can tell, she had no idea that the funds were there. The culprit appears to be one Manuel Lopez, a Parks Dep...
CONTINUE READINGThe Economist on Natural Gas: Slouching Toward Mediocrity
I was quite interested in finding last week that The Economist's most recent major survey is about natural gas. Given the explosion of natural gas resources (uh...so to speak) and the world's growing reliance on it, I needed to get up to speed. Besides, from a climate perspective, getting the fracking issue right is crucial. Natural gas combustion itself emits far less greenhouse gases than does coal. But natural gas itself is methane, a far more potent (althoug...
CONTINUE READINGRomney’s Advisers
As I've posted earlier, Romney's website is staunchly anti-regulatory and pro-fossil fuel. That's also the position of his foremost energy advisrr, Harold Hamm. Hamm is the 66-year-old founder, chairman and chief executive officer of Continental Resources Inc. (CLR). CLR is an oil producer which is leading the charge for fracking. Not surprisingly, Hamm loves "Mitt’s goal of cheap, plentiful energy for the American economy." Also not surprisingly, Hamm is a big fan...
CONTINUE READINGDon’t Knock EPA’s Knack for NAAQS
On Tuesday, the D.C. Circuit decided American Petroleum Institute (API) v. EPA, an interesting case dealing with nitrogen oxide (NO2) levels. The standard is supposed to include a margin of safety.Under the Clean Air Act, EPA sets National Ambient Air Quality Standards (NAAQS) for airborne substances that endanger human health or welfare. EPA set such a standard for NO2 in 1971 and finally got around to revising the standard in 2010. The innovation in the new NO2 st...
CONTINUE READINGDo “Green Homes” Sell for a Price Premium?
Yes. Nils Kok and I estimate a large 9% price premium for "Energy Star" certified California homes relative to similar homes that are not certified. If you like to read about the "green economy", here is a free copy. This study builds on my recent work estimating the price premium for solar homes. Econometric analysis should interest environmentalists!...
CONTINUE READING