Energy
The Unintended Consequences of an Oil Boom
The idea of booming oil production sounds great, at least if you put aside environmental issues. For instance, in the current presidential race, one of the candidates has touted the advantages of becoming another Saudi Arabia. But economists seem to delight in telling us why something that sounds terrific will actually come back to bite …
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CONTINUE READINGHow to Act Like a Windmill: Spin Quickly While Standing in One Place
1. Shawn McCoy, a spokesman for Romney’s Iowa campaign, told The Des Moines Register, “He will allow the wind credit to expire, end the stimulus boondoggles, and create a level playing field on which all sources of energy can compete on their merits. “ (July 31,2012 Wall Street Journal) 2. “We will support nuclear and renewables, but …
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CONTINUE READINGRomney verus Obama: Showdown at the Auto CAFE
Perhaps lost in the media focus on the Republican convention, the Obama Administration created CAFE standards two months ago. (CAFE stands for Corporate Average Fuel Economy, a fancy name for gas mileage rules.) Romney immediately attacked the rules. It’s a very revealing – not to mention acrimonious — dispute. According to the Administration, the new …
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CONTINUE READINGThe trouble with resource shuffling
Federal Energy Regulatory Commission (FERC) Chairman Jon Wellinghoff recently voiced concern that California’s cap-and-trade program could lead to unforeseen consequences that would upset energy markets. He was speaking about resource shuffling, and echoing a letter his fellow Commissioner sent to the California Air Resources Board (CARB) in August. What is resource shuffling? According to CARB, …
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CONTINUE READING“I Will Fight for Oil, Coal, and Natural Gas”
That’s what Mitt Romney said tonight. Yes, this is the same man who also said, just a month ago, that he believes that humans are contributing to climate change. But his heart belongs to fossil fuels. According to Mr. Romney, maximal use of fossil fuels is also the key to economic recovery. Romney even seems …
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CONTINUE READINGPACE Court Ruling Now Final: So What’s the Future of PACE?
Federal Judge Claudia Wilken, who has been presiding over the West Coast lawsuit to overturn federal housing policy and restore residential PACE energy financing programs, made her August ruling final today. As you may recall, Judge Wilken ruled in August that the Federal Housing Finance Authority (FHFA) would have to pursue a notice-and-comment rulemaking on …
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CONTINUE READINGAkin v. McCaskill on Energy
Rep. Akin and Sen. McCaskill have sharply different views on issues such as reproductive rights. The differences on environment and energy are less stark. McCaskill seems to be the better pick on environmental grounds because of her stronger support for renewable energy and Akin’s general anti-regulatory stance.
CONTINUE READINGThe Possible Merits of a Hybrid Sales+Carbon Tax
There’s been a lot of discussion of carbon taxes, which economists virtually all love. Proposed carbon taxes would generally be imposed at the level of fossil-fuel sellers or importers, or when producers use carbon. Imposing the carbon tax on consumers would have some significant advantages. This could be done with some fancy VAT-type mechanism, but …
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CONTINUE READINGConservative versus Ultra-Conservative in the Hoosier State
The Indiana race features Joe Donnelly, a conservative Democrat, against Richard Mourdock, a Tea Party Republican. Both are more conservative than their counterparts in other competitive Senate races. I discussed Mourdock briefly in a post about Tea Party candidates. He stands out for his endorsement of the view that climate change is a hoax. This …
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CONTINUE READINGTo See What Is In Front Of One’s Nose…
“… is a constant struggle.” — George Orwell. In my post a couple of days ago, I neglected to mention one huge issue before the Supreme Court in Kiobel v. Royal Dutch Petroleum. Although the Court originally granted cert on the issue of corporate liability, the Supremes kicked it back last February for reargument this …
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