Energy
The Last Rockefeller
Senator Jay Rockefeller (D-WV), the current chair of the Commerce, Science, and Transportation Committee has announced his retirement. Rockefeller is 75, and faced a tough re-election fight in West Virginia, which has gone from being the state of John L. Lewis to the state of Mitt Romney — it went for Romney last year by …
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CONTINUE READINGUC Berkeley report demonstrates need for strict resource shuffling rules in cap-and-trade
The Energy Institute at Haas, part of UC Berkeley, has a new study that looks at California’s rules for regulating electricity importers in the cap-and-trade program. These rules attempt to keep importers from gaming the cap-and-trade system via resource shuffling. The Energy Institute has simulated different counterfactual cap-and-trade rules using 2007 electricity market data. The …
CONTINUE READINGMore About the Distributional Impacts of a Carbon Tax
I’ve posted before about the equity effects of pricing carbon. A new paper from Brookings provides further evidence on the subject. The main conclusions are that a carbon tax is indeed regressive, but the problem could be fixed by spending about 10% of the proceeds on social welfare programs. The authors find that the direct …
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CONTINUE READINGPut That In Your Tank and Smoke It
The next time anyone tells you that an increase in gasoline prices (say, as part of a carbon-tax or a cap-and-trade system) would generate unbearable costs to consumers, think again. The Los Angeles Times reports something that I have often seen but never really thought through: gasoline stations often a couple block away from each …
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CONTINUE READINGThe San Bruno Explosion and the Public Trust
Do you remember the horrific Pacific Gas & Electric Company (PG&E) natural gas pipeline explosion in San Bruno, California, that killed eight people and burned down dozens of homes? Two years later, there are still several proceedings pending before the California Public Utilities Commission (CPUC) to figure out who should bear costs resulting from the …
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CONTINUE READINGGreat Expectations: A Dozen Views of Obama’s Second Term
As we approach inauguration day next month, I thought it would be interesting to pull together the advice that people are giving him about his second term. Here are some links if you’re interested in what people are hoping for (or in some cases, dreading). From the N.Y. Times, the views of Carol Browner (advocating …
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CONTINUE READINGNatural Gas Fracking: Don’t Worry, Be Happy!
When George Washington Law School’s Richard Pierce talks about energy, I listen. And a few days ago he posted a short piece with the provocative title, “Natural Gas Fracking Addresses All Of Our Major Problems.” (emphasis in original!). If you want to read the nutshell case for why fracking is good, then this is your …
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CONTINUE READINGThe Current U.S. Energy Pathway is Paved with Coal, Oil and Natural Gas
How well are we doing, in our efforts to strip fossil fuels from our energy mix? If you want to believe the most recent estimates from the U.S. Energy Information Administration (EIA), the answer is: not so well. As EIA prepares its 2013 report on the impact of various proposed policy changes, it asks itself: …
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CONTINUE READINGInternational Trade in Renewable Power Equipment
In the absence of global carbon pricing, how will the growing world economy decarbonize? We all hope that emissions per dollar of GNP will decline faster than GNP grows but how does this happen when explicit incentives to decarbonize aren’t embraced? The magic of international trade offers one possibility. In this recent …
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CONTINUE READINGRenewing Britain’s Clean Energy Vows
The British are ramping up their efforts on renewable energy. The NY Times reported a few days ago that the new plan will “gradually quadruple the charges levied on consumers and businesses to help support electricity generation from low-carbon sources, to a total of about £9.8 billion, or $15.7 billion, in the 2020-21 fiscal year, …
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