Climate Change
Are PACE Financed Residential Energy Improvements Capitalized into Home Prices?
The FHFA believes that an unintended consequence of obtaining a PACE loan is to increase the risk of mortgage default. The FHFA’s logic is that if the green investments are not capitalized into home prices then the home owner’s equity decreases as equity = sales price – debt owed. Under these assumptions, the green …
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CONTINUE READINGMore Good News About Implementing AB32
Below I report a new announcement posted to the California Air Resources Board Webpage discussing how a small group of academic economists will be playing a new role in designing the AB32 Cap & Trade program. Here is the announcement. My bottom line is that ARB has hired a Dream Team. Forget Lebron James and …
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CONTINUE READINGParty Differences on Energy and Environment: A Side-by-Side Comparison
After I posted a description of the Republican platform, a reader suggested that a side-by-side comparison would be helpful when the Democratic Platform came out. Here it is, presented as objectively as I could. Subject Democratic Platform Republican Platform Regulatory reform Give president power to reorganize agencies. Congressional approval required for all major rules. …
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CONTINUE READINGA Capitol Hill Briefing on Electric Vehicle Policies, Monday, September 10th (Webcast Available)
Legal Planeteers in the Washington DC area are invited to join the environmental law centers at Berkeley and UCLA Schools of Law as we present a lunchtime, Capitol Hill discussion on policies necessary for long-term, mass adoption of electric vehicle technologies. This free event is sponsored by Congressman Henry Waxman’s office and will also be …
CONTINUE READINGEconomists for AB32
A few days ago I joined a set of well known academic economists and signed this letter to Governor Brown. The NRDC has a nice post about the issues available here. Everyone who knows me, knows that I’m a proud University of Chicago Ph.D. economist and that my support for free markets and individual freedom …
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CONTINUE READINGWhen Paid Consultants Attack
In today’s Sacramento Bee, Andrew Chang has some tough things to say about California’s AB32 and about Bo Cutter and myself. He omits some details that are worth mentioning. First, some background. Last week, Bo Cutter and I published this OP-Ed in the Sac Bee. Chang’s response was published today. Point #1: We were not paid to …
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CONTINUE READINGShould the University of California Be Part of the AB32 Carbon Cap?
The OC Register reports that UCLA may face a large bill (over $5 million per year) for its current carbon dioxide emissions under AB32’s cap and trade. If true, will the faculty at UCLA continue to support this regulation? Several issues arise. First, UCLA is a non-profit. While UCLA is “big”, should non-profits be part …
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CONTINUE READINGThe Irony of Todd Akin
Todd Akin’s views about rape and pregnancy are crazy, and he deserves his current political plight. The irony is that Akin is by no means the most extreme of the current crop of Senate candidates. In fact, in a recent blog post, I decided not to lump him with the other tea party candidates because …
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CONTINUE READINGThe ADB’s New Essay on “Green Urbanization in Asia”
Over the last few months, I’ve been working with economists at the ADB on the annual Key Indicators Special Chapter. “Green Urbanization in Asia” was recently published. This chapter covers a lot of ground but I think it does a very good job in presenting the core issues and challenges and discussing a …
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