[Ed. Note: Also see Mr. Vaughn’s previous post: The U.S. EPA’s Regulatory Clean Air Benefit-Cost Estimates (30 free lunches for the price of 1?)]
President Obama’s deferment of the EPA’s latest ozone standards puts on hold annual compliance costs that the Agency estimated at $90 billion by 2020. The Wall Street Journal termed the $90 billion figure an “undoubtedly lowball estimate.” [1]
Undoubtedly, to be sure (more on that in a moment). Even so, it’s news when the EPA ‘fesses up to costs as serious as $90 billion, instead of estimating chump change, such as the $0.8 billion a year estimated for the proposed “Clean Air Transport Rule” (CATR) aimed at utilities.
Getting Into the Numbers
The $0.8 billion estimate has flown under the media’s radar but—in its own way—merits more media attention than the $90 ozone number.…
Continue ReadingPierre Desrochers is a scholar’s scholar. His prolific research, writing, and teaching facilitate our own research and learning. His reference and use of some of our work is a vindication of sorts.
I recently encountered Professor Desrochers syllabus for Energy and Society, a course that he is currently teaching at the University of Toronto Mississauga. Wow! Lucky are his students; this course is a model for its subject for North American and far beyond.
Desrochers sets out three main objectives for this course:
• To cover the basic physical, technical and economic issues related to energy use;
• To cover broadly the history of energy development and use;
• To introduce students to past debates and current controversies.
He describes the course as follows:
… Continue ReadingThe development of new energy sources has had a major impact on the development of both human societies and the environment.
“The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups.”
– Henry Hazlitt, “The Lesson,” Economics in One Lesson. (1946, et seq.)
Solyndra’s impending liquidation, replete with 1,100 layoffs and U.S. taxpayer liabilities in excess of a half billion dollars, has put so-called green jobs initiative of the Obama Administration in negative light.
But make no mistake: recent loan guarantees from the U.S. Department of Energy to new solar projects to beat a September 30th funding cutoff is business-as-usual as the foes of oil, gas, and coal desperately seek business traction for an uneconomic energy.
From Climate Alarmism to ‘Green’ Jobs
With unemployment on the rise and new jobs scarce, politicians are keen to create employment, at least the visible kind that they can sum up for the public.…
Continue Reading