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March 13, 2017
Does It Really Matter If Exxon Mobil Changes Its Reported Oil Reserves?
The latest quarterly earnings reports season looms on the horizon, providing full employment for business reporters, accountants, attorneys, various species of number crunchers, prognosticators, kibitzers and pizza delivery firms catering to all of them as they burn the midnight oil. And that is before the reports are submitted to the Securities and Exchange Commission (SEC)…
February 9, 2017
The Achilles’ Heel of the Obama Climate Regulations
An existing executive order can be reversed with a new one — a stroke of the pen — but regulations promulgated through the formal public notice and comment processes of administrative law can be undone only with newer regulations adopted through that same mechanism. Moreover, efforts to reform or to reverse a regulatory apparatus as…
January 27, 2017
The Environmental Left and Keystone XL
Everything old is new again, the latest manifestation of which is the reaction of the environmental Left to the news that President Donald Trump has issued presidential memoranda and an executive order resurrecting the Keystone XL and Dakota Access pipelines, and beginning the process of reversing the abject obstructionism of the Obama administration toward infrastructure investment for the production and transport…
December 14, 2016
Trump Nominee Scott Pruitt Will Clean up the EPA
Life in the Beltway offers a range of amusements, the latest of which is the reaction of the environmental left to President-elect Donald Trump’s announced intention to nominate Oklahoma Attorney General Scott Pruitt (R) to be the administrator of the Environmental Protection Agency (EPA). Climate denier! An enemy of the EPA! An arsonist in charge of fighting…
December 6, 2016
Trump’s Realistic Thinking on Climate Change
President-elect Donald J. Trump said recently that there exists “some connectivity” between human activity and climate change, which may or may not reflect a shift in his view on that scientific question. But he has indicated no change in his policy stance on various attendant regulations, and an “open mind” on a U.S. exit from…
November 21, 2016
The Magical Powers of the Social Cost of Carbon
When last we joined hands around the ourenergypolicy.org campfire, roasting s’mores and singing songs of camaraderie, we told tales of one particular monster of the dark, to wit, the Obama administration analysis of the social cost of carbon, perhaps the most dishonest exercise in political arithmetic ever produced by the federal bureaucracy. But this is the Beltway: No perfidy goes unrewarded. And so…
October 26, 2016
Solar Energy Can’t Survive Without Massive Subsidies
Notwithstanding the thunderous applause that solar photovoltaic (rooftop) power receives from enlightened opinion, it is not cost-competitive with conventional electricity, and cannot survive without massive subsidies. An army of lobbyists, commentators and bureaucrats has told us for years that rooftop power will be cost-competitive with conventional electricity very soon, if it is not already, and technically could provide over 38 percent of U.S….
October 18, 2016
Washington State Initiative 732 — All Cost, No Benefit
Voters in the state of Washington will vote November 8 on Initiative 732, which would impose a “carbon tax” on greenhouse gas (GHG) emissions, and thus on energy, while reducing the sales tax and almost eliminating the business and occupation tax on manufacturers. Here is a number that those voters should keep in mind: twenty-five…
September 29, 2016
The Carbon Tax Is Not Just Political; It’s Ineffective, Too
In a recent editorial in support of a carbon tax, The Washington Post complains that “Americans are burning record amounts of gasoline,” arguing that “one of the most glaring … flaws” of the “Environmental Protection Agency fuel-efficiency mandates” is the reality that the regulations “cannot control how much people drive or what type of vehicles people buy.”…
August 16, 2016
Renewable Electricity as a Solution to Puerto Rico Debt Crisis? You Must Be Kidding
The Beltway lobbying machine is nothing if not inventive. The latest evidence for this eternal truth is a new report from the Institute for Energy Economics and Financial Analysis arguing that the debt restructuring plan recently hammered out for the Puerto Rico Electric Power Authority (PREPA) will not work as intended, in substantial part because it…