“… a $150 per ton of CO₂-equivalent (CO₂e) tax [is estimated to globally] … increase the price of milk by approximately 49 percent, the price of rice by 67 percent, and the price of beef by a whopping 108 percent.”

Over the course of my career I have often been asked by concerned persons if there is any downside to implementing CO₂ emission reduction policies on the off-chance that model projections of future climate change might be right. These well-meaning individuals do not necessarily believe or buy into the mantra of global warming extremism, they simply seek some sort of an insurance policy to defuse fears accumulated from the constant flow of projections of a forthcoming climate apocalypse.

And so it is when legislation like the recent U.S.…

“The environmentalists have been emboldened by their ‘win’ with the passage of the IRA. Never satisfied, their petition is one of the first attempts to expand it.”

It never ends…. In the wake of the 725-page “Inflation Reduction Act” (IRA), consumer choice for energy could be intentionally restricted to electricity by the U.S. Environmental Protection Agency (EPA). Or at least that seems to be the plan. According to a petition submitted by environmentalists, EPA should regulate carbon dioxide (CO2) emissions resulting from using natural gas in homes and businesses.

The eco-lobby has been emboldened by their “win” with the passage of the IRA. Never satisfied, their petition is one of the first attempts to expand it.

Background

On Tuesday, August 23, 2022,  The Hill published an article by  staffer  Rachel Frazin stating “26 health, environmental and consumer protection organizations” petitioned the Environmental Protection Agency for the ban in residences and commercial buildings, citing health and climate impacts.…

“It seems that the only people who could claim a $14,000 [home electrification] rebate have well above average income.  If so, like $7,500 electric vehicles (EV’s) rebates, this is an incentive that primarily will benefit the already well-to-do; except nearly twice as much as EV’s.”

“Without gas utilities to serve heating demand, electric utilities will become winter peaking, requiring massive investments of generating capacity and/or battery storage.”  

Searchable text of Inflation Reduction Act is here.

The American public has been sold out in energy and climate just when the opposite seemed to be at hand. This bill is about bigger government, more spending, greater deficits, and more monetary inflation (federal counterfeiting) to make it all work (see Concerned Economists letter).

Hidden in the Bill are innumerable special-interest government interventions, one of which is very anti-consumer that no one is talking about.…

I am writing a new book, Energy Crisis and Leviathan, that summarizes the history of government intervention with energy during wartime and other energy emergencies. To better understand these crises, I review the intervening periods of relative normalcy.

My effort is not a treatise but an overview that relies on key political economy terms to best understand the unhampered market process versus interventionism. The terms below will be referred to in future posts here at MasterResource given the current energy emergencies and habit of government to expand rather than contract.

This is a working draft. The reader is invited to suggest, correct, or present new terms to this list of 21.

Border adjustments: Nation-to-nation tariffs to prevent some jurisdictions from disadvantaging others in the global quest to price or ration carbon dioxide.…