All too often it seems we are inundated with bad news – or, at least, presumably bad news – about the impacts of domestic energy development, particularly hydraulic fracturing. We see headlines every day that suggest this proven and tightly regulated technology is damaging local communities and the environment.
Of course, the stories are rarely based in scientific facts (or even a basic knowledge of the processes discussed), and the real track record of shale development speaks for itself: more than 1.2 million wells hydraulically fractured, without a single proven case of water contamination.
Still, those who are eager to write attention-grabbing headlines and sensational reports often win the day, as a recent University of Texas study demonstrated quite clearly: two-thirds of all stories about hydraulic fracturing are decidedly negative in tone.…
Continue Reading[Editor’s Note: This post concludes a two-part series on counter-productive regulation passed in the name of addressing man-made climate change.]
In Part One yesterday, I summarized the recent research by U.C. Berkeley researcher Margaret Taylor, which found that cap-and-trade programs (CTP) impede technological innovation. Not only do they stifle future technological improvements, CTP often erase past improvements.
California’s Global Warming Solutions Act (AB32) and the Air Resources Board’s implementation of that law to date provide a sobering example of the Taylor Thesis.
California Improvements before Cap-and-Trade
California is the only state insisting on implementing economy wide cap-and-trade. The climate impact, if the programs (unrealistic) goals are achieved, are miniscule. Nonetheless, the program is to start later this year, according to the California Air Resources Board (CARB). Not acknowledged by these uber-bureaucrats, California has the third BEST carbon intensity in the U.S.,…
Continue Reading[Editor Note: This is Part One in a two-part series by Mr. Tanton on counter-productive regulation passed in the name of addressing manmade climate change. Part II tomorrow focuses on California. ]
Cap-and-trade programs (CTP) do not provide incentives to develop innovative technologies and likely increase emissions, according to a new essay, Innovation Under Cap-and-Trade Programs, published in Proceedings of the National Academy of Sciences. Author Margaret Taylor, a researcher at Lawrence Berkeley National Laboratory, completed her study as assistant professor at the University of California-Berkeley’s Goldman School of Public Policy.
Based on actual case studies, she found that CTP have reduced incentives for research and development. “Policymakers rarely see with perfect foresight what the appropriate emissions targets are to protect the public health and environment,” said Taylor.
Emission targets might actually be set more strict, she explains, even while the mechanism (i.e.…
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