“The Congressional Joint Committee on Taxation, for example, has estimated that the cost of a one-year PTC extension is $12.1 billion. Thus, even accepting the Report’s grossly inflated number of 37,000 wind jobs, the cost to the American taxpayers would be $12.1 billion divided by 37,000, or about $327,000 per job. [But] … the cost for a one-year PTC extension could be as much as a staggering $4,792,079 per direct up-front job added ($12.1 billion ÷ 2,525 jobs).”
An intellectual nail has been driven into the wind-industry-driven Production Tax Credit, a governmental lifeline keeping an inherently flawed industry afloat. The new study, Inflated Numbers; Erroneous Conclusions: The Navigant Wind Jobs Report, was authored by Charles J. Cicchetti, a noted economics consultant and longtime economics professor (now adjunct) at the University of Southern California.…
Continue Reading“Privately, scientists and analysts within national environmental organizations are appalled that celebrity fractivism could get in the way of the coal-to-gas shift. They say the fractivists undermine green credibility, and are disturbed by the failure of their movement’s leadership.”
Mainstream environmental groups used to support natural gas, which offers significant public health and climate benefits over coal and is a “bridge fuel” to a clean energy future. But celebrity activists like Mark Ruffalo, who has a house in the Catskills, and Robert F. Kennedy Jr. have led the movement astray with NIMBY opposition to fracing in areas such as upstate New York.
Over the last year, celebrities such as Yoko Ono, Sean Lennon, Robert Redford, Mark Ruffalo, Mario Batali, Scarlett Johansson, Alec Baldwin, and Matt Damon have spoken out against the expansion of natural gas drilling.…
Continue Reading[Editor Note: This nearly decade-old article, Are We Running Out of Oil?, is reprinted by the author for its relevance today. A likely error in the article (even Julian Simon adherents can be too pessimistic!) is conceding that M. King Hubbert correctly predicted the 1970 peak of U.S. oil production (9.6 mmb/d then vs. 5.7 mmb/d in 2011). However, domestic output has increased 13% since 2008 and is rapidly rising. A March 4th article on the failure of peak-oil predictions inspired this look-back.]
“Vainly, economists working in the fixity paradigm have looked for a ‘depletion signal’ in the empirical record—some definitive turning point at which physical scarcity overcomes human ingenuity. A new research program is in order. Applied economists should focus upon institutional change to explain and quantify changes in resource scarcity.”…
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