Category Archives: carbon tax

A Survey of Fracking and Conventional Sourced Oil and Gas Prospects are Not Encouraging, due largely to Biden Administration Policy.


OilPrice.com on 24 November posted “The U.S. Shale Boom Is Officially Over”.  This posting offers some of the author’s views.

The days of explosive growth in U.S. shale oil production are over. American oil production is rising, but at a much slower pace than it did before the 2020 crash, and at lower rates than expected a few months ago.

The new priorities of the shale patch – capital discipline and a focus on returns to shareholders and debt repayments – have coupled with supply chain constraints and cost inflation to drag down U.S. oil production growth.

The Biden Administration’s mixed signals to the American oil and gas industry, with frequent blaming of the sector for high gasoline prices and, most recently, a threat of more taxes, are not motivating U.S. producers, either. Many are reluctant to commit to spending more on drilling when there isn’t any medium-to-long-term vision of how the U.S. oil and gas resources could be used to boost America’s energy security and help Western allies who depend on imports.

This year, while U.S. oil and gas production continues to increase, the growth is capped by cost pressures and supply-chain delays, executives said in the Dallas Fed Energy Survey for the third quarter. The shale patch cites labor and equipment shortages, as well as the Biden Administration’s inconsistent policies, as the key hurdles to expanding drilling activity.

“The administration’s lack of understanding of the oil and gas investment cycle continues to result in inconsistent energy policies that contribute to rising energy costs. This continued inconsistency increases uncertainty and decreases investments in energy infrastructure,” an executive at an oilfield services firm said in comments to the survey.

“We are in an energy death spiral that will lead to higher highs and lower lows. Volatility will increase, and the public is in for a very difficult ride.

I recommend you read the entire posting.

cbdakota

How Energy And The Paris Agreement Fit In President Trump’s Plans To Make The US Economically Strong Again


A posting by sundance titled “Angela Merkel Reflects Fear And Loathing Amid EU Elites…”.  I believe provides an important perspective on the President Trump’s America First Strategy.  I have focused on Energy and the Paris

Agreement, but Trump’s strategy, as laid out by the author, sundance, is more that those two items.  It really is a plan to make the US economically strong again.

President Trump has put a jaw-dropping U.S. energy platform solidly into place.  You can learn more about them HERE and HERE.  The announcements last week are tectonic in consequence though seemingly lost amid the chafe of media reporting over twitter spats.

Everything President Trump’s team does is connected to a bigger, much bigger, picture than most people are paying attention to.  However, those who control the levers of multinational power are paying very close attention.

At it’s core and central elements ‘America-First’ is about prosperity and national security through the utilization of leveraged economic power.   For four decades, as he built out his empire of holdings, every-single-day at every-single-opportunity, Donald Trump voiced vociferous frustration that politicians were allowing the U.S. to be controlled, lessened, weakened and robbed by multinational economic interests.

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Dr. Judith Curry Believes the RoadMap to Zero CO2 Emissions Is Infeasible.


 

 

I have promised some critical views from skeptics regarding the Paris Agreement Roadmap to zero CO2 emissions by 2050.  If you need to get up to speed regarding  the Paris Agreement Roadmap,  please review my last two postings. 

Let’s begin with Judith Curry’s thoughts on this topic from her posting of 25 March titled A roadmap for meeting Paris emissions reductions goals”.

JC reflections

Apart from the issues raised in this paper, there are several other elephants in this room:  there is growing evidence of much smaller climate sensitivity to CO2; and even if these drastic emissions reductions occurred, we would see little impact on the climate in the 21st century (even if you believe the climate models).

I think that what this paper has done is important:  laying out what it would actually take to make such drastic emissions reductions.  Even if we solve the electric power problem, there is still the problem of transportation, not to mention land use.  Even if all this was technically possible, the cost would almost certainly be infeasible.

As Oliver Geden states, its time to ask policy makers whether they are going to attempt do this or not.  It seems rather futile to make token emissions reductions at substantial cost.

Deciding that all this is impractical or infeasible seems like a rational response to me.  The feasible responses are going with nuclear power or undertaking a massive R&D effort to develop new emission free energy technologies.  Independent of all this, we can reduce vulnerability from extreme weather events (whether or not they are exacerbated by AGW) and the slow creep of sea level rise.

 

Dr. Curry’s remarks are very succinct.  To be a success, the roadmap requires many inventions that to date have been sought after but not delivered.  And she points out, as noted in this blog on a number of occasions, the climate sensitivity used by the warmers gives temperature increases that are unsupportable.  This roadmap is necessary in large part because it is predicated on those exaggerated temperatures the climate models produce.  That is Dr. Curry’s “elephants in the room.”

And she thinks it is way too costly.  I believe she is spot on.

Dr. Currys posting can be accessed this link https://judithcurry.com/2017/03/25/a-roadmap-for-meeting-paris-emissions-reductions-goals/

Some additional comments to follow in the next posting.

cbdakota

For The Left, The NGOs and The Technical Societies, The Battle Over EPA Regulations Is All About Money


The EPA has been overstepping its authority. This has led to regulations that are unnecessary, burdensome and often not in concert with bills passed by Congress and signed into law by the President. At times, the EPA has been acting as a law making body, which is beyond their authority.  The current Administration intends to correct this situation.

gore-making-money

As the Administration undertakes this task, the Left will mount a campaign intended to defeat the Administrations objestives.  The Left will tell you that the Administration is going to poison your children, make all rivers a sewer, make the air you breathe toxic and Earth will be destroyed by catastrophic climate change. None of which is true.  The media of course will join in and support anything the Left says.  They will report about someone who is supposed to be suffering because of the actions of the Administration. They will ignore the many who are able now make a success of their business as the useless regulations are canceled. The left knows they will miss their opportunity to tax and regulate if the Administration is successful.

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The Paris Agreement Has It Wrong–Developed Nations Are Not The Primary Sources Of Greenhouse Gases.


The website EnergyMatters’ posting titled “Attributing the blame for global warming” is one of the most intriguing postings I have read lately.   The posting discusses a report made by a UN group to determine who is responsible for the man-made greenhouse gases that the warmers say have damaged the Earth. The Paris Agreement, for example, blames the Developed Nations and wants them to pay reparations to the rest of the world. The posting, on the contrary, persuasively argues that the developed nations aren’t not the primary sources of greenhouse gases.  Further the folly of the “Developed Nations are at fault theme” is that when projected into the future the evidence says it is even less true.  For those of us that believe that nature is the primary forcing agent with regard to global climate change, who is to “blame” is not particularly our big issue, but it is for the warmers.  This posting seems to point out they continue to get it wrong:

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Cap And Trade Group (RGGI) Overstates Its Accomplishments


The Regional Greenhouse Gas Initiative (RGGI, aka Reggie) has posted “New Study: Carbon Cap and Trade Has Saved Lives”.  (The  RGGI posting can be seen at the end of this posting.).  RGGI has a membership of nine states, that have collectively set caps on greenhouse gas emissions.    RGGI states that they have cut emissions by 37%, lowered electricity prices, saved lives and improved the health of vast number of people.  Actually the emission cut is essentially too tiny to measure in the big picture.   Data from the US Department of Energy makes the claim of lower electricity prices questionable and the improved health unsubstantiated.  Let’s examine RGGI’s  claims.

The following chart has been prepared using data from  the US Department of Energy’s Energy Information Administration (EIA).

CO2 Emission in millions of metric tons.   Data from Department of Energy,      
State 2008 2014               %                delta, metric tons
Connecticut 37.7 35.1 -7 -2.6
Delaware 16.2 13.3 -18 -2.9
Maine 19.1 16.6 -13 -2.5
Maryland 73.8 61.5 -17 -12.8
Massachusetts 76.7 63.9 -17 -13.1
New Hampshire 18.7 15 -20 -3.7
New York 190 169.7 -11 -20.3
Rhode Island 10.7 10.6 -1 -0.1
Vermont 5.9 5.9 0 0
RGGI CO2 EMISSIONS 448.8 391.6 -12.3 -58
US CO2 EMISSIONS** 6022 5489 -8.9 -533
GLOBAL CO2 EMISSIONS** 29728 33355 12.2 3627
** 2007 rather than 2008

The nine States that make up the RGGI are listed.  RGGI’s stated goal  is to reduce emissions from fossil fuel powered electrical generation facilities.  The numbers in the above chart are for the all sources of CO2 emissions in each state. The period from 2008 to 2014 is used because that is the range used in the current (September 2016) RGGI report: “The Investment of RGGI Proceeds Through

The total reduction of CO2 emissions for the RGGI group States for the period from 2008 to 2014 are 58 million metric tons.  That looks impressive but in the big picture, it is a drop in vast atmospheric ocean.  During the time that these 58 million metric tons were not emitted, the global addition was estimated at somewhere around 210,ooo million metric tons.  The net effect is too small to  measure.  The EIA estimates that China and India will emit 11,460 million metric tons of CO2 in 2017 and they are forecast at 11,705 million in 2018.  And former President Obama signed a pact with China that allows them to continue increasing their emissions until 2030 while the US is to reduce its emissions some twenty percent.  Isn’t that a “great” deal?

The RGGI is a “cap and trade” program.  When the US Congress rejected a “cap and trade” program sponsored by ex President Obama, these States developed the RGGI program which was fully operable by 2008.  They reduce the amount of CO2 each year that these power plants can emit.  The reduction has varied but is nominally about 3% per year. If other facilities in their States have a CO2 baseline than exceeds their needs, they can sell it through RGGI to the highest bidder.   These “CO2 allowance”  sold last year at about $3.30/ton.   The income from these sales so far is about $2.5billion. Obviously, this is a State revenue scheme.  RGGI uses this money to insulate homes, put in renewable energy systems, help some people pay their power bills among other things.  In 2014, paying the bills of low income families was nearly non-existent except in Vermont where 98% of their share of the income from sales of CO2 Allowances was used to help single family homes with bills and home efficiency improvements.  It appears that RGGI’s installation of renewable energy systems are a major user of the funds from sales of CO2 Allowances.  So, they probably off-set the cost of installation of solar cells., for example.  One of the States has just set up a deal with Solar One to install these systems. Most of the installations of roof top solar systems that I have  seen are made in communities where affluent people live.  Are the wealthy benefiting the most from RGGI’s programs?

The RGGI posting also said that “Recent assessments of the program have shown none of the negative economic impacts that some feared at the outset.  In contrast, economies in RGGI states have actually grown faster than in other states. Electricity costs have declined by a few percent, on average .”

Using the EIA data for the Average Price Electricity to Ultimate Customer by End Use Sectors for the YEAR 2015—Cents per Kilowatt-hour we constructed this chart:

STATE Residential* Commercial Industrial Transport
Connecticut 20.94 15.97 12.95 13.18
Massachusetts 19.83 15.79 13.54 7.76
Rhode Island 19.29 15.78 13.76 18.54
New York 18.54 15.31 6.31 12.95
New Hampshire 18.50 14.96 12.74 —–
Vermont 17.09 14.54 10.27 —–
California 16.99 15.73 12.17 8.99
New Jersey 15.81 12.79 10.64 10.25
Maine 15.61 12.47 9.05 ——
Michigan 14.42 10.55 7.02 11.44
Wisconsin 14.11 10.89 7.58 14.66
Maryland 13.82 11.00 8.53 8.34
Pennsylvania 13.64 9.60 7.20 7.28
Delaware 13.42 10.25 8.28 —–
\

In Bold are the 9 RGGI States. 

New Jersey, once in the RGGI, dropped out.

(*Beginning with Connecticut, these 14 States have the highest residential rates in the continental US.  (Hawaii and Alaska are the only other States with higher residential rates.)

There must be other things going on to make the statement that the RGGI States “economies are growing faster than in other states.”  It does not look like the electricity prices would be favorable.  I am surprised that the prices for 6 of the RGGI States are higher than those in California.

Another part of the posting by RGGI alleged health benefits.

The following are the health benefits that RGGI lists in their posting:

“Abt Associates used mathematical models to estimate the scale of such health benefits, and found that RGGI has averted:

  • 300 – 830 premature adult deaths
  • 35 – 390 heart attacks
  • 8,200 – 9,900 asthma exacerbations
  • 13,000 – 16,000 respiratory illnesses”

 

Models!!  UGH!   Anyway, the EPA has a model based upon some secret science that generates these figures. It is 2.5 micron particles that are inhaled that are supposed to cause these health issues.  The EPA is using this secret science to try to put out of existence, all fossil fuel generated electricity.  The EPA has issued regulations that are called the Clean Power Plan. These regulations have been  stayed by several courts.   The Courts along with President Trump’s support, may withdraw the Clean Power Plan.

Before delving into the secret science, let’s lok at what a stretch RGGI is making.  The atmosphere is well mixed and CO2 and these 2.5 micron particles are pretty much in the same amounts in most places around the world. So, it is unlikely that the atmosphere in the RGGI regions is any different from any place else. Nothing the RGGI is doing can be having a measurable effect on the air the people breath, hence the claim is not viable. Remember how small the actual RGGI emission reduction is.

I have made two postings on the Clean Power Plan.  The EPA claims  mercury and 2.5 micron particles are dangerous .  Thus they must be removed from the emissions by fossil fuel (particularily coal) electrical generating plants.  The EPA limit on mercury lacks a good scientific basis.  Click here to review my posting on mercury.   The following is from one of my  posting on the 2.5-micron particle which discusses the secret science the EPA is using.  Cllick here to read it in its entiretly.

———————————————————————————————–

In this case the toxins are particulate matter—2.5microns (PM2.5) or smaller in diameter.   For perspective, how big is a 2.5micron particle? 2.5 microns are equal to 0.00025 centimeters or 0.000099 inches. Yes, you are right, you can’t see them.

The EPA touts a study that says PM2.5 is dangerous, but they won’t share all the study data with anyone. Thus, no other science body can confirm or deny the studies results.  Secret Science. We are told we must take their word for it.

The EPA found it necessary to get a friendly team to do this study because other work, including some of their own, shows no harm. This particular study group has done “friendly” work for the EPA and the American Lung Association. One of principal authors has received over $31 million in payments from the EPA for his studies.   (No energy company can match the EPA and other government bodies when it comes to paying for studies.) The study is called the Harvard 6 Cities Study and this is what Dr Battig** said about it in his posting on WUWT titled “A Physician’s Perspective on the EPA’s “Data Derangement Syndrome”:

“The Harvard Six Cities Study (Laden et al 2006) forms the scientific basis for much of the EPA claims regarding PM toxicology. Yet examination of the data shows that the statistical relative risk (RR) for total mortality claims range from below one to barely above one and a fraction. They do not meet the minimum legal standard of a RR of 2 to identify a significant population risk. In addition, these Harvard studies have walled-off their raw clinical data from independent investigators by claiming patient confidentiality, thereby preventing duplication of results by others. Independent reproducibility and verification of test results are the traditional hallmarks of scientific research. Invoking patient confidentiality to block access to raw data casts doubt on the entire process since providing such patient protection is not particularly difficult.”

Not only will they not allow examination of all the data, the study’s RR does not meet minimum legal standards and yet they want to impose it on us.

Dr Battig adds this:

“The EPA has been conducting controlled human exposure studies to air pollutants on the University of North Carolina campus for more than thirty years. During that time more than six-thousand volunteers have been studied without a single serious adverse event being observed…so is there a health problem to investigate or not? How much more testing looking to define a disease? It looks more like a disease concept in search of a susceptible victim”.

At the 10th International Conference on Climate Change, Dr Battig; Scientific Integrity Institute President James Enstrom; and S. Stanley Young, a fellow at the American Association for the Advancement of Science did an outstanding panel discussion on this topic.

News.heartland.org posted “Conference Panelists Criticize EPA Health Scares” written by ALYSSA CARDUCCI carried this insight from S Stanley Young:

“After examining reams of data, Young concluded the threats of air pollution, PM2.5, and ozone contributing to deaths are “imaginary”.

Young received “the biggest data sets on the planet” to study the effects of air pollution on human health in California. The dataset included 13 years of data on eight California air basins and daily electronic death certificates equaling more than two million certificates and a total of 37,000 days of exposure.

Using standard statistical techniques, Young and two other statisticians found there were “no acute or chronic effect on deaths in California.”

“I call this a fact,” Young said. “We have the biggest data set on the planet for looking at this, and there is no effect.

“If air pollution was a killer, it would be killing everywhere, and the fact that we’ve established that it’s not killing in California puts every other paper at risk for the claims that they have made,” Young said.

Dr Battig adds:

“In view of EPA PM2.5 mortality claims at 35µg/m3, why are airport smokers and the Shanghai population not dropping dead on the spot? Airport smoker lounges have ambient levels of 600µg to 10,000µg PM2.5. A single draw on a cigarette floods a smoker’s lungs with 10,000µg to 40,000µg. The Shanghai press reports PM outdoor levels of 600µg/m3. It also reports that the average life expectancy there is 82.5 years…a life expectancy greater than any major U.S. city. Where are the overflowing emergency rooms and mortuaries?”

It’s clear that the EPA doesn’t have science to support this bill. Extensive testing by the EPA and in California for just two examples, show no correlation between PM2.5 and “premature death” or apparently, any deaths. The study they are using is by scientists that seem to be bought by the EPA. And obviously, they know that the study data cannot stand the light of day, hence it becomes another use of SECRET SCIENCE.

My take on RGGI is that it really has not done much for what they set out to do, and that was to reduce the amount of CO2 emitted into the atmosphere. Perhaps they recognized the futility of that objective and decided that the tax would work out just fine.  One more bureaucracy taxing and regulating.  Would it not have been better to just lower the price of electricity and rather than collecting money and trying to pick winners and losers?

The thrust of the posting by RGGI (see it in its entirety below)  was that they were saving lives.  Firstly, the basis for the saving lives is some secret science that would not need to be secret if was actually verifiable.  Secondly, the actual reduction of CO2 and related emissions is too small to have any effect what so ever.  Thirdly, because the atmosphere is well mixed, there never will be a pocket of significantly cleaner air just over the RGGI States.

cbdakota

** Dr Charles Battig resume

Charles Battig

Charles Battig is a retired physician with a postgraduate degree in electrical engineering. In the 1960s he served as principal scientist in bio-medical monitoring systems at North American Aviation Los Angeles in support of the Apollo Moon Mission. From 1967 to 1969, he held the rank of senior surgeon/commander in the U.S. Public Health Service at the National Institutes of Health, Bethesda, Maryland, in the biomedical engineering branch. Following teaching appointments in anesthesiology at UCLA and Mt. Sinai,New York, he entered the private practice of anesthesiology until retirement. After re-settling in the Charlottesville, Virginia area, he undertook to provide an alternate voice on climate change issues in the backyard of the University of Virginia, the former home of both Patrick Michaels and Michael Mann.

———————————————————————————————

New Study: Carbon Cap And Trade Has Saved Lives

By HEATHER GOLDSTONE  18 HOURS AGO

Living Lab on The Point

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CREDIT BY UNITED STATES NATIONAL INSTITUTE OF HEALTH: HEART, LLUNG AND BLOOD INSTITUTE [PUBLIC DOMAIN], VIA WIKIMEDIA COMMONS

A new study this week finds that a regional carbon cap and trade system has saved hundreds of lives and billions of dollars for New Englanders. Officials from the nine participating states are currently working out the future of the program.

The Regional Greenhouse Gas Initiative (RGGI, pronounced Reggie, for short) began in 2009. There are nine member states – all six New England states, plus New York, Delaware, and Maryland – that collectively set caps on greenhouse gas emissions, and then auctions off allowances for power plants to produce such carbon emissions. To date, participating states have cut emissions by 37% – two and a half times more than non-RGGI states.

Recent assessments of the program have shown none of the negative economic impacts that some feared at the outset. In contrast, economies in RGGI states have actually grown faster than in other states. Electricity costs have declined by a few percent, on average. And, the cap and trade program has generated $2.5 billion in revenue for participating states.

Now, a new study says it has also produced health benefits. It’s a logical conclusion; power plants that emit greenhouse gases also produce particulate air pollution that is linked to adverse health effects, such as asthma, respiratory illnesses, and heart attacks. Conversely, limits on greenhouse gas emissions would be expected to reduce air pollution and their related health impacts.

Abt Associates used mathematical models to estimate the scale of such health benefits, and found that RGGI has averted:

  • 300 – 830 premature adult deaths
  • 35 – 390 heart attacks
  • 8,200 – 9,900 asthma exacerbations
  • 13,000 – 16,000 respiratory illnesses

Since people who are sick (or worse, dead) can’t work, these health benefits also have ramifications for workforce productivity. Abt Associates estimates that the avoided health problems resulted in somewhere between 39,000 and 47,000 regained work days.

Between the savings in health care costs and the restored productivity, Abt Associates says RGGI has saved participating states some $5.7 billion.

That’s one more piece of information RGGI supporters hope officials will factor in as they decide the future of the program. Current emissions caps expire in 2020, and the participating states are currently working to set new caps for 2021-2030. It had been hoped that a new plan, or at least proposal, would be in place by the end of 2016. The process has been delayed by a few months, in part to allow participating states to explore options if President Obama’s Clean Power Plan is struck down in the courts or abandoned by the incoming Trump administration.

Still, RGGI hasn’t fallen off the radar. Earlier this week, New York Governor Andrew Cuomo pledged to cut the RGGI carbon cap 30 percent by 2030. That would be roughly 3 percent per year between 2021 and 2030. That’s less than the 5 percent annual reduction RGGI states have been averaging since 2005.

Last fall, Massachusetts Governor Charlie Baker called for maintaining the annual 5 percent reductions through 2030. This week, Peter Lorenz, a spokesperson for the Baker administration, said they remain committed to RGGI and the “objective of reducing carbon emissions while stabilizing energy bills, preserving electricity system reliability, and creating local jobs and economic growth.”

Drain The EPA Swamp—Part 3- Endangerment Finding


cartoon-co2

The Trump administration has formed a team charged with making recommendations for changes to the EPA. This action is needed because gone are the days when the EPA followed the legislation written by Congress.  Good things were accomplished by the EPA.  But now the EPA has over stepped it authority. The EPA task is to administer the law, not make it. For example, it has developed criteria to justify their own efforts, often invites “friendly lawsuits to expand their activities, and uses “secret science” to justify their regulations:

The following are some of the areas that the team need to address, in my opinion:

  • Social Cost of Carbon
  • Secret Science
  • Peer Reviewed Studies
  • Friendly Law Suits
  • The Endangerment Finding
  • Research Grants
  • Last Minute Regulation

Of all the items listed above the most significant is the Endangerment Finding.  The Endangerment Finding was prepared by the EPA at the request of the US Supreme Court.  The EPA was being sued by the State of Massachusetts who alleged that the CO2 should be regulated as part of the Clean Air Act passed years before by Congress.   Documentation showed that the Congress had considered regulation of CO2, but had rejected inclusion of CO2 in the Clean Air Act.  In 2007, The Supreme Court ruled, even though CO2 regulation was rejected by Congress, that if the EPA could show CO2 was endangering the people and Earth, then the Court would rule that it could be regulated. The EPA clobbered together IPCC data and announced, to no one’s surprise, that it was endangering everything.   The Clean Air Act had given the EPA nearly free reign to regulate designated pollutants.  Making CO2 part of that Act, now gave them power to regulate CO2 emissions.

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Drain The EPA Swamp-Part 1- Social Cost of Carbon


3swamp-1The Trump administration has formed a team charged with making recommendations for changes to the EPA. This action is needed because gone are the days when the EPA followed the legislation written by Congress.  Good things were accomplished by the EPA.  But now the EPA has over stepped it authority. The EPA task is to administer the law, not make it. For example, it has developed criteria to justify their own efforts, often invites “friendly lawsuits to expand their activities, and uses “secret science” to justify their regulations:

The following are some of the areas that the team need to address, in my opinion:

  • Social Cost of Carbon
  • Secret Science
  • Peer Reviewed Studies
  • Friendly Law Suits
  • The Endangerment Finding
  • Research Grants
  • Last Minute Regulations

 

Social Cost of Carbon

The Federal Departments are charged with providing the benefit that results from their regulations. The EPA’s decided that their benefit would be a calculation that they call the Social Cost of Carbon (SCC). Their SCC calculates the economic damage per ton of CO2 emissions. They form the SCC by considering all the bad things they say are going to happen if atmospheric CO2 continues to increase.  Sea level rise, terrible weather, crop failures, mass migrations.  These outcomes are predictions made by their computer models.   One thing we know about the computer model’s predictions is that they have consistently overstated the temperature rise and the sea level rise.  These two drive the cost side of the equation.  Thus, all their regulatory schemes are supposed to prevent these costs.   But the EPA fails to include the benefits of additional atmospheric CO2. One thing we know for sure is the increased atmospheric CO2 has resulted in a profound greening of the globe.  Food crop production has increased dramatically as CO2 is the primary food for plants.  The gentle global warming that has taken place has been beneficial as well.

Another problem with the SCC is the discount rate used by the EPA is unrealistic in the view of many economists.  The Federal Government’s Office of Management and Budget(OMB) believes a in different discount rate. When using OMB discount rate, the EPA cost estimates are reduced by 80% and is some cases cause the cost to be negative. And where the calculation goes negative, the increased atmospheric CO2 results in a benefit, not a cost.

 

Using these flawed computer predictions makes this calculation unsuitable for policy making.  Further, the benefits that are actually known (not computer predicted) are not included thus making the calculation even more useless. And lastly the discount rate chosen by the EPA would not likely be used by most economist.

Social Cost of Carbon calculation currently used by the EPA should be drained from the swamp.

Unfortunately, many new regulatory rules have been enacted based upon the social cost of carbon.  One survey found that between May 2008 and August 2014, some 68 major rules were sanctioned by the SCC.   This is an issue the new team should address.

cbdakota

Dependance On Petroleum?—More Than Just Use As A Fuel


How much do you depend on petroleum-based products?   A few of the non-fuel uses are previewed in the following video:

 


<p><a href=”https://vimeo.com/31586887″>Hydrocarbon Man</a> from <a href=”https://vimeo.com/user8463025″>Robert E. Bailey</a> on <a href=”https://vimeo.com”>Vimeo</a&gt;.</p>

 

cbdakota

Hillary Clinton Will Not Stop The UN Acting On The Bogus Theory Of Catastrophic Global Warming


 

We need to stop the UN and their IPCC from carrying out the Paris Accord.  The pact maybe unenforceable but a lot of damage will be done to the US economy and the rest of the world’s economy in its name.    The Chinese are lobbying against Donald Trump—where are those voices that say the Russians should not be poking their nose into the Presidential election.  Why are the Chinese lobbying?  Because they say we need to reduce our CO2 emissions.  This is the nation that President Obama negotiated a pact with where we reduce our emissions but the Chinese do not have to do that until 2030.  During which time we will be putting the brakes on our economy while they are rapidly expanding theirs.  If Trump ever had a target pact that the US  has been badly out foxed, this is it.    It will not be changed if, tomorrow Hilliary Clinton wins the Presidency, nor will the bad deal we got from the Paris Accord. 

Oh yes,  the Chinese CO2 emissions are already the largest in the world at about twice ours.  When 2030 arrives the Chinese emissions should be three times those of the US.

UPDATE   From Watts  UP With That is a posting that elaborates my point about China and their plans for coal burning.  Read this   “China Announces a Massive 20% Increase in Coal – by 2020”.

 

Read the NBC News posting  “Prospect of President Trump Casts Clouds Over COP22 Climate Conference”

cbdakota