Michael Giberson While the North American Electric Reliability Council (NERC) has monitored compliance with its reliability standards for years, lately it has taken compliance more seriously. (What with the big blackout in 2003, NERC?s desire to take a more prominent role in industry developments, and such things.) As of the 2004 Third Quarter Report, NERC …
Michael Giberson The EPA has implemented regulation of Nitrogen Oxide (NOx) emissions with a cap-and-trade market scheme that seeks to achieve environmental goals in a way that minimizes the costs of compliance. Regulated companies are required to have permits to cover the amount of pollution emitted ? a company with a low cost of compliance …
The Value In Shifting Nox Emissions In Time And Space Read More »
Michael Giberson Have you noticed how low gasoline prices have been lately? No? Apparently you haven?t been paying attention. Fortunately, a representative of Burch Oil, which sells gasoline in Southern Maryland from Burchmart convenience stores, was paying attention. When prices dropped too low at gas stations down the street last week ? to 199.9 ? …
Maryland State Official Requires Gasoline Stations To Raise Prices Read More »
Michael Giberson As a follow up to Lynne’s post, David Warsh at Economic Principals provided an overview of Acemoglu’s research that does a good job of situating Acemoglu’s work in the broader world of development economics. Well worth reading. See The Man Who Succeeded Gerschenkron. Anyone interested in economists, both in and out of the …
Michael Giberson Tom Toles in the Washington Post offered the following last week:
Michael Giberson In a stunt reminiscent of Alan Sokal?s article published in the journal Social Text, three MIT grad students in computer science were invited to present at an academic conference on the basis of a paper randomly generated by a program they wrote. Reuters reports (via CNN.com): [Co-author Jeremy] Stribling said the trio targeted …
Michael Giberson Apparently, the Washington Post thinks is it newsworthy that economists can?t foretell the future. In a story headlined Economists Uncertain of Energy Costs? Impact, the Post reports that economists agree that higher energy costs in recent weeks dampened economic growth, but economists are not sure what the economy will be doing in the …
Michael Giberson Business Week has posted a story on neuroeconomics. The theme: “By linking economic behavior to brain activity, however, neuroeconomics may finally supply the model that knocks mainstream economics off its throne.” Or maybe, as the article concludes, the neuro approach will just give economists more to argue about for years to come. Well …
Michael Giberson In considering Lynne?s note on the new Senate electricity legislation, I couldn?t help but notice that the co-sponsoring senators were not from states that have embraced “competitive energy markets” or done much to “modernize regulation.” Senator Burr is from North Carolina; Senator Cochran from Mississippi; Senator Landrieu from Louisiana; and Senator Lott, also …
Michael Giberson Following up my post of yesterday, use this link to automatically search FERC’s website for the Enron trading materials posted online on March 1. Available are hours of recorded tape conversations and a host of supporting testimony prepared by the FERC trial staff. Apparently, FERC trial staff decided to conduct a random sampling …
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