A Free-Market Energy Blog

Archive

Posts from July 2010

Milton Friedman on Mineral Resource Theory (remembering a giant of social thought)

By Robert Bradley Jr. -- July 30, 2010

Editor note: Milton Friedman would be 98 this Saturday July 31. (He died on November 16, 2006.) This exchange with Robert Bradley–when Dr. Friedman was 91 years old–is testament to the mental powers of one of the greatest social thinkers of modern time.

Friedman had not met Bradley but was in the habit of actively communicating with scholars until his final illness.

I had heard that the great economist and social thinker Milton Friedman (1912–2006) was a prolific communicator with those who posed worthy questions to him. So when I got interested in mineral resource theory, which would culminate with my 2007 essay, Resourceship: An Austrian Theory of Mineral Resources, I asked Dr. Friedman in August 2003 about his views on the late Julian Simon (1932–98), specifically whether Simon’s work on resources, and his conception of the ultimate resource, merited a Nobel Prize in economics.

New Mexico: Raising Rates for Bad Energy in a Poor State

By Marita Noon -- July 29, 2010

New Mexico has enjoyed some of the lowest energy prices in the country—which is good as it is a poor state. However, the major supplier of electricity to the state, PNM, has just asked for a 21.2% rate increase on top of the 24% they’ve received over the last few years. Welcome to the new world of government-forced renewable energy–and one reason why Senator Harry Reid (D-Nev.) recently said he didn’t have the votes for a federal renewable portfolio standard (RPS).

The anticipated rate shock gets worse for New Mexicans: a nearly 50% rate hike in five years. While PNM claims New Mexico still has some of the lowest rates in the country, the citizens are not taking the preventable increase lying down. David King, chairman of the New Mexico Public Regulation Commission (PRC), for example, calls the rate increase a “hot potato” saying that he’s received “a flood of calls from ratepayers.”

Public Outcry

During the month of July, PNM has been holding Public Forums through out their service area regarding their Integrated Resource Plan (IRP).

Why Cap-and-Trade Is Politically Failing: Cost, Cost, Cost (The Chamberlin study and his response to Michael Levi, Council on Foreign Relations)

By Robert Bradley Jr. -- July 28, 2010

[Editor note: The summary and analysis below is reprinted with the permission of the Institute for Energy Research. The sections past the summary are authored by Dr. Andrew Chamberlin. Cap-and-trade remains alive unless the U.S. Senate fails to pass legislation to go to conference with HR 2454, The American Clean Energy and Security Act of 2009.)

To better understand the broad consequences of the proposed Kerry-Lieberman American Power Act on the U.S. economy, the Institute for Energy Research commissioned Chamberlain Economics, L.L.C to perform an economic and distributional analysis of cap-and-trade portion of the proposal.

The report examines the impacts that the American Power Act would have on the U.S. economy, the method by which emission allowances are distributed to corporations and the distributional cost of the bill on households by income, age group, region and family type.

Muir Russell Findings No Solace for U.S. EPA

By Chip Knappenberger -- July 27, 2010

Muir Russell Climategate Findings: Superficial, Uncompelling

By Chip Knappenberger -- July 26, 2010

Regulatory Failure by the Numbers

By Robert L. Bradley, Jr. and Richard W. Fulmer -- July 24, 2010

Northwest Windpower: Problems Aplenty

By Eric Lowe -- July 22, 2010

One Person’s Oil Addict is Another’s Intelligent Consumer

By <a class="post-author" href="/about#m_lynch">Michael Lynch</a> -- July 21, 2010

BP Fools the “Socially Responsible” Investors (‘Green’ Enron did too)

By Robert Bradley Jr. -- July 20, 2010

Regional Greenhouse Gas Initiative (RGGI): A Cap-Tax-Spend Model to NOT Follow

By <a class="post-author" href="/about#llinowes">Lisa Linowes</a> -- July 19, 2010