Environmental Economics
The cromulent economics blog
recent posts
Category: Energy Resources
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Every 6 years or so (I'm rounding) gas prices rise, and the results are predictable: Price go up because of some supply shock, the news starts to cover it, people start to complain, politicians start to rumble about price gouging and restricting prices, supply increases, prices fall, and everyone calms down. While higher gas prices…
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WSJ (Saudis Plan New Export Cuts in Hopes of Lifting Oil to $80 a Barrel): Saudi Arabia is planning to cut crude exports to around 7.1 million barrels a day by the end of January in hopes of lifting oil prices above $80 a barrel, according to OPEC officials. The new strategy comes as the…
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NEW: A group of eight Republican senators send a letter to the @USTradeRep, @SecretaryPerry and @SecretaryRoss calling for utility-scale #solar panels to be exempted from the #TrumpTariffs. pic.twitter.com/QxutfjkQ6y — Solar Industry (@SEIA) May 11, 2018 https://platform.twitter.com/widgets.js
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I'm not sure I'm as optimistic as Krugman but the attempt to reduce the use of from renewable energy is likely a huge mistake (in terms of dynamic efficiency): Not that long ago, calls for a move to wind and solar power were widely perceived as impractical if not hippie-dippy silly. Some of that contempt…
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You should beware U.S. companies making announcements about decisions and using government policy as a cover these days, but this seems to make economic sense: American solar company SunPower will lay off about 3 percent of its workforce in March, a decision that comes after President Trump began imposing new tariffs on imported solar materials…
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Energy Economics By Peter M. Schwarz From the publisher: Energy Economics outlines the fundamental issues and possible solutions to the challenges of energy production and use, and presents a framework for energy decisions based upon sound economic analysis. It considers market forces and policy goals, including economic prosperity, environmental protection, and other considerations that affect societal…
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Economists don't like tariffs. In a 2011 survey of AEA members, only 5% disagree with the statement: "Tariffs and import quotas usually reduce general economic welfare." The U.S. has been generally moving towards freer trade over the past 35 years. That's what makes the current protectionist trend so puzzling (Trump’s Solar Tariffs Are Clouding the Industry’s Future): Across…
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In micro principles we teach that when price falls below average variable cost (e.g., labor and materials) the firm will shut down (Coal’s Decline Seems Impervious to Trump’s Promises): The decline in demand has forced a 38 percent drop in the nation’s coal production in a little less than a decade. Now only the most…
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From the WSJ Weekly Review email: Trump Administration on Power Plants By Timothy Puko | Jan 09, 2018 TOPICS: Energy, Regulation SUMMARY: Federal energy regulators Monday rejected a Trump administration proposal aimed at shoring up struggling coal-fired and nuclear power plants. CLASSROOM APPLICATION: Students can discuss whether Federal Entergy [sic] Regulatory Commission should alter the…
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In case you missed it over the holiday break: The Trump administration is poised to roll back offshore drilling safety regulations that were put in place after the 2010 Deepwater Horizon oil rig disaster in the Gulf of Mexico that killed 11 people and caused the worst oil spill in American history. A proposal by…
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