Today’s Houston Chronicle has two takes on the recent decision by hometown Dynegy to pull back from participating in the construction of new coal plants and concentrate on expanding capacity at its existing plants.…
Continue ReadingIf only to cover their bases, environmentalists have from time to time been forthright about the problems of renewable energies. To his credit, John Holdren has punctuated his energy alarmism with a bit of energy realism in this regard. “There is no energy technology presently known or imagined (solar energy not excepted) with negligible environmental impact,” he said in a 1977 essay, “Energy Costs as Potential Limits to Growth” (Dennis Pirages, ed, The Sustainable Society: Implications for Limited Growth, p. 71).…
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ExxonMobil’s new corporate position in favor of carbon taxes, reported today by the Wall Street Journal, is not entirely unexpected. It is the result of a policy drift of recent years toward compromise and appeasement with the company’s political critics.
But I doubt that ExxonMobil has bought into alarmism. Back at Enron, where I was director of public policy analysis, we didn’t necessarily buy into climate alarmism but we welcomed the public’s concern because we had seven profit centers (see pp. 3–4) that stood to benefit. ExxonMobil, the anti-Enron, has not set itself up as a rent-seeker, but it apparently wants a seat at the policy table given the perceived choice between a carbon tax and a carbon cap-and-trade scheme.…
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