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Providing Insight
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Economics
19Articles

A Practical Guide to the Economics of Carbon (Dioxide) Pricing

Dr. Ross McKitrick published this document for the School of Public Policy, University of Calgary. He says that carbon dioxide pricing is the most efficient way to ration emissions. “Painfully costly command-and-control reductions make little sense in Canada, given our marginal contribution to global emissions.” He writes “carbon pricing only works in the absence of any other emission regulations.” If carbon dioxide pricing is layered on other emission regulating programs such as emission caps, coal-fired plant shutdowns, feed-in-tariffs or wind and solar subsidies, it will "fail to have the desired effects" and will "cause disproportionate damage in the economy." Because a tax causes an economic loss, he says “in Canada, the optimal carbon tax should be about half of the estimated social cost of carbon, assuming there are no other climate actions.



The UN’s Sneak Attack on Your Pension

Institutional investors being pressured to stop investing in fossil fuels and move their money into lower-return alternate energy sectors. Institutional investors hold trillions of investment dollars and the future of millions of people’s pensions and retirements in their hands. Most have also signed on to the UN’s six Principles for Responsible Investment (PRI), which set the objectives of environmental, social and corporate governance (ESG), the stated purpose of which is to “better align investors with broader objectives of society.”



‘Social costs’ of Carbon Dioxide a Climate Change Scam

Unelected unaccountable ENGOs skew benefits of conventional energy. Environmental Non-Governmental Organizations (ENGOs) can’t seem to stop themselves. Maybe it’s time to heed the words of people such as UK MP Douglas Carswell (“We’re spending money that we don’t have to solve a problem that doesn’t exist at the behest of people we didn’t elect") rather than those of unelected and unaccountable ENGOs which continue to ramp up climate hysteria in an effort to induce governments, industry and the public into agreeing to a carbon tax.



On Trial: Social Cost of Carbon

The Minnesota state utility regulators asked an administrative law judge to rule on the social cost of carbon (SCC). Dr. Curry has posted links to some testimony. Dr. Richard Lindzen testified "new evidence (Stevens, 2015) reduces the uncertainty of aerosols so climate sensitivity is now "extremely unlikely to exceed 2 ºC". He estimates it is from 0.85 ºC to 1.5 ºC. Dr. Richard Tol built the FUND integrated assessment model. Table 3 of Tol's testimony Exhibit 2 shows that the SCC using a climate sensitivity of 1 ºC is negative 18 $/tC, ie, quite beneficial.



What is the True Cost of Electricity?

The Institute for Energy Research published a report that determined the levelized cost of electricity from existing generation sources. The study shows that on average, electricity from new wind resources is nearly four times more expensive than from existing nuclear and nearly three times more expensive than from existing coal. These are dramatic increases in the cost of generating electricity. The premature closures of existing plants will unavoidably increase electricity rates.




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