Regulation
The Illegality of a Regulatory Cap
A key part of Romney’s attack on “over-regulation” is his proposed regulatory cap. If an agency wanted to issue a new regulation, a cap would require an agency to repeal a regulation (or package of regulations) with equal cost. To make this work, Romney would need new legislation from Congress, not just an executive order. …
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CONTINUE READINGWhat Happens After Election Day?
We’re only two weeks away from the election. What will happen in terms of the environment if Obama wins? What happens if Romney wins? The difference is dramatic. If Obama wins. . . The results of an Obama victory are fairly predictable. There are a number of new regulations that are now wending their way …
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CONTINUE READINGSaving Public Transit: Finding the Money
We all know that public dollars are scarce, especially for public transit. As the federal government scales back its investments in the nation’s buses and trains, local governments are stepping up. Los Angeles in particular has innovated a way to leverage their existing sales tax revenue for transit to start building more projects sooner. Gloria …
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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 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 READINGKey Senate Races, Energy Policy and the Environment
In a series of posts, I’ve surveyed the key Senate races — meaning those that don’t seem to be “locks” for either candidate. These races will probably determine control of the Senate. The candidates differ greatly in their positions on the environment and on energy policy. Here is a quick summary of what is at …
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CONTINUE READINGRegulatory Field Experiments?
I really like Jonathan’s post about MIT’s J-PAL. Permit me to offer a few points. 1. The field experiment economists are randomly allocating stuff at the individual level. Your household might receive a free newspaper, a report indicating how your electricity consumption differs from neighbors, a report indicating how your politician is performing on a …
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CONTINUE READINGHow About a Regulatory Action Lab?
I have just finished reading Abhijit Banerjee and Esther Duflo’s excellent and very thoughtful book, Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty. MIT economists Banerjee and Duflo reject broad, sweeping arguments concerning either the necessity for infusions of foreign aid or the futility of such efforts. Instead, they advocate detailed …
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CONTINUE READINGRomney’s Embrace of the House Republicans’ Anti-Environmental Agenda
A lot of Romney’s views about energy and regulation seem familiar. There’s a reason for that. Driven by the Tea Party, the House has passed numerous deregulatory laws, some of them multiple times. On average, the House Republicans averaged more than one anti-environmental vote for every day the House was in session in 2011. Romney …
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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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