Lynne Kiesling I’ll be interested to see how the political, economic, and environmental consequences of this weekend’s new carbon approach in the UK unfolds; according to the Guardian (and the too-much BBC that I listen to): Cabinet ministers have agreed a far-reaching, legally binding “green deal” that will commit the UK to two decades of … More The UK’s commitment to carbon reductions?
Lynne Kiesling Over the past few days Josh Blonz at Common Tragedies had a couple of posts (here and here) about the permit allocation issues in the Waxman-Markey bill, and yesterday Tim Haab picked up the conversation thread. They are both focusing on the welfare and efficiency implications of the proposal to allocate permits to … More Another Waxman-Markey blemish: reinforcing the obsolete utility business model
Lynne Kiesling While we’re on a carbon note … [sarcasm] yeah, I’m shocked, really, totally shocked that, as Virginia Postrel notes, the 946-page Waxman-Markey House energy bill proposal is really a piece of command-and-control legislation.[/sarcasm] The WaPost notes that the “cap-and-trade” bill sponsored by Henry Waxman and Edward Markey is, in fact, loaded with all … More Waxman-Markey is really a command-and-control energy bill? No, say it ain’t so!
Lynne Kiesling The New York Times has an interesting article on how the growth of carbon markets enables us to quantify the environmental value of forests. The researchers found that paying to conserve the forest was more valuable than plantations as long as poorer nations could earn $10 to $33 for each metric ton of … More The economic and environmental value of forests
Lynne Kiesling In today’s Wall Street Journal, Bjorn Lomborg has one of the clearest articulations of the bootleggers and Baptists dynamic in carbon policy, and nails one of the fundamental reasons why the Waxman-Markey bill is bad policy: Naturally, many CEOs are genuinely concerned about global warming. But many of the most vocal stand to … More Bootleggers and Baptists and carbon policy
Lynne Kiesling Friday’s Wall Street Journal editorial on cap and trade and the Waxman-Markey bill has prompted me to come out of the closet and say something publicly that I’ve been thinking for a couple of months: although I think that the most effective and economically efficient carbon policy is one that directly reflects the … More Can Congress be trusted to design effective carbon policy? I doubt it
Lynne Kiesling UPDATE: Thanks to the commenter who alerted me that I mis-labeled my graph, and that equilibrium B should be at the intersection of S’ and D’. I may not get to update the graph Monday, my apologies. There’s been an interesting discussion going on this week building off of a Sean Casten post … More Will pricing carbon raise electricity prices?