Energy
Not Enough Money in the Pipeline
When regulators approve rates for a utility such as Pacific Gas & Electric Company (PG&E), they are making their best guess as to how much money the company will need to cover various kinds of activities. The utility starts out the process by offering its position on how much it will need for things like …
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CONTINUE READINGThe Market for Lemon Solar Panels
George Akerlof won the Nobel Price for his work on the market for lemons and the role that asymmetric information and adverse selection plays in mucking up markets. His favorite example is the used car market. The seller knows more than the buyer about the vehicle’s true quality. Used vehicle owners are more likely to …
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CONTINUE READINGThe NY Times Publishes a Strange Anti-Geoengineering Op-ED
I encourage this blog’s readers to skim Clive Hamilton’s piece on Geoengineering which was published in the NY Times today in its Opinion section. His piece is so strange that it is worth a carefully read. Here I provide some direct quotes; “We can imagine a situation 30 years hence in which the …
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CONTINUE READINGCalifornia Legislature Suspends Oil Severance Tax: Wimp-out or Long Game?
Perhaps the most obvious fiscal reform for California lies in an oil severance tax, which charges producers per barrel coming out of the ground. California is the only major oil-producing state without such a tax (the miniscule fee to fund the Department of Oil, Geothermal, and Geophysical Resources doesn’t count), and because of the international …
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CONTINUE READINGMaybe a Super EIS for Climate Policy?
Following closely on the heels of Ann’s argument concerning the flaws of the Keystone XL DEIS came a NYT story from John Broder with an interesting suggestion: if the administration approves the pipeline, then it should do something else in order to advance the battle against climate change: [C]ould some kind of deal be in …
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CONTINUE READINGWe Have Met the Unknown Unknowns and They are Us
There are uncertainties about climate science such as tipping points and feedback effects. But these pale in comparison to the biggest source of uncertainties: people. Here are some of the major things we don’t know and really can’t know about future society: Will economic growth continue, and if so, how quickly and how uniformly? Richer …
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CONTINUE READINGCoal Power and Climate Denial
What causes certain political figures either to deny the potential for climate change, or deny that human activity is a major cause? That question came to mind while reviewing a new report issued by Ceres entitled Benchmarking Air Emissions for the 100 Largest Electric Power Producers in the United States. The report does an impressive …
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CONTINUE READINGAlberta, Open Sewers and the Keystone Pipeline
Al Gore raised the hackles of the Canadian government this week when he criticized the country’s large scale extraction of oil from the Alberta tar sands. The tar sand oil reserves are among the world’s largest but are particularly energy intensive to extract. That means that extracting oil that will then be burned will emit significantly …
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CONTINUE READINGThe problem of stale NEPA reviews
There’s been a mini-boom in uranium mining in the United States, in part because of increased interest in nuclear power as a partial response to climate change. Using nuclear power to reduce greenhouse gases has been quite controversial because of the obvious risks that nuclear power poses (exemplified by the Fukushima disaster in Japan). But …
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CONTINUE READINGThe Consequences of Carbon Cap & Trade
Behind a firewall, the WSJ has a tough editorial mocking Europe’s carbon trading. While I often agree with this page’s overall philosophy, this is a case where I sharply disagree with the unsigned authors. As everyone knows, a key part of life is making investment choices while facing uncertainty. Consider a European …
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