Here’s a simple way to think about a hard problem.
The social cost of carbon is important in many regulatory decisions made by the executive branch. It basically measures the benefit of cutting one ton of carbon emissions. Figuring out the cost of carbon based on an analysis of climate impacts is very tricky. However, there’s another way to think about the problem: We might …CONTINUE READING
The IIJA and IRA will spend a lot of money on transportation—but whether they’ll create fundamental change in our infrastructure or continue business as usual will depend on how that money is used.
This is the last in our series of posts previewing the Emmett Institute’s 2023 Symposium, coming up on April 12. Check out the first post, introducing some of the big questions around the IIJA and IRA, the second post, on transmission infrastructure, and RSVP for the Symposium here! Transportation is one of the most complicated …CONTINUE READING
The IIJA and IRA offer a chance to speed up electricity-transmission development, but can it be done fairly?
This is the second of a series of posts previewing the Emmett Institute’s 2023 Symposium, coming up on April 12. Check out the first post, introducing some of the big questions around the IIJA and IRA, and the third post, on transportation infrastructure; and RSVP for the Symposium here! The clean-energy transition that is one …CONTINUE READING
How would the Manchin-Schumer deal on permitting impact the environment?
To get Manchin’s vote for the $379 billion in environmental spending in the IRA bill, Schumer and other congressional leaders had to agree to support Manchin’s efforts to speed up the permit system. At this point, all we have is a one-page list of permitting changes that would form the basis of a new bill. …CONTINUE READING
The new law is a Big Deal. Or more precisely, a REALLY Big Deal.
IRA, the Inflation Reduction Act, is clearly the biggest climate legislation ever passed in the United States. The law will provide $379 billion in subsidies to clean energy in the form of direct payments and tax credits. Subsidies aren’t the ideal way to cut emissions, because it’s impossible to target them to the precise behavioral …CONTINUE READING
A short video explainer of why passage of the IRA bill is such a big deal.
We all have something to celebrate with the House passage of the IRA on Friday. Getting it passed required some difficult compromises, but the bill represents a major step forward. Because of the Mar-a-Lago search, it hasn’t gotten nearly as much attention as it deserves. If you don’t have time for a lot of details, …CONTINUE READING
In climate policy, delay is deadly.
There are a lot of complaints about the very real flaws in the Inflation Reduction Act, tied with arguments that we should wait until we can do something better. In climate policy, however, waiting is dangerous. We’ve already delayed far too long. Further delay means having to cut emission much more rapidly to make up …CONTINUE READING
Senate passes biggest climate legislation ever.
In June, the Supreme Court trimmed EPA’s power to regulate greenhouse gases. The Court used the “Major Question Doctrine,” which says that issues of “vast political and economic significance” must be decided by Congress. Senate Democrats gave their response on Sunday: the Major Money Doctrine. They passed the Inflation Reduction Act (IRA), which provides over …CONTINUE READING