energy

The Best Government Action on Climate Change Is No Government Action on Climate Change

Global Science Report is a weekly feature from the Center for the Study of Science, where we highlight one or two important new items in the scientific literature or the popular media. For broader and more technical perspectives, consult our monthly “Current Wisdom.”

Many eyes will be on President Obama’s State of the Union address tonight watching to see how he follows his inauguration promise to “respond to the threat of climate change.” Rumors are flying that he will use his executive power to bypass Congress and further EPA efforts to regulate greenhouse gas emissions. But his best response would be to get the federal government out of the energy market and allow it to flourish as it may. The inconvenient truth is that the U.S. influence on global climate is rapidly diminishing as greenhouse gas emissions from the rest of the world rapidly expand. As a consequence, whether or not the United States reduces its emissions at all is immaterial to the path of future climate change and its impacts.

Several reports last week have shown that carbon dioxide emissions from the United States declined in 2012 and now stand at a level on par with what they were back in 1994. U.S. carbon dioxide emissions have dropped about 13 percent from their high in 2007.

All the while, global carbon dioxide emissions have been on the rise—primarily fueled by rapid emissions growth in developing countries, namely China (which is responsible for about two-thirds of the global increase during the past decade).


Figure 1. Emissions of carbon dioxide from the U.S., China, and the rest of the world, 1990-2010 (data from U.S. Energy Informat

Since carbon dioxide is well-mixed in the atmosphere, who actually emits it is of little consequence when it comes to its potential to lead to global warming.  This means that the global percentage of a country’s annual carbon dioxide emissions is equivalent to its annual percentage contribution to the increased warming pressure (we use the term “warming pressure” to indicate that things other than the atmospheric concentration of greenhouse gases also act to influence that global average temperature from one year to the next). Since total global carbon dioxide emissions are quickly distancing themselves from U.S. emissions, as time passes, the relative influence of U.S. emissions on the future state of the global climate is rapidly declining.

Kerry and Lieberman Unveil Their Climate Bill: Such a Deal!

I see that my colleague Sallie James has already blogged on the inherent protectionism in the Senate’s long-awaited cap-and-tax bill.  A summary was leaked last night by The Hill.

Well, we now have the real “discussion draft” of  “The American Power Act” [APA], sponsored by John Kerry (D-NH) and Joe Lieberman (I-CT).  Lindsay Graham (R-SC) used to be on the earlier drafts, but excused himself to have a temper tantrum.

Week in Review: Tax Day, Pirates and Cuba

Tax Day: The Nightmare from Which There’s No Waking Up

Cato scholars were busy exposing the burden of the American tax system on Wednesday, the deadline to file 2008 tax returns.

At CNSNews.com, tax analyst Chris Edwards argued that policymakers should give Americans the simple and low-rate tax code they deserve:

IRS Can’t Manipulate Tax Code to Generate More Revenue for Itself

This blogpost was co-authored by Cato legal associate Matt Gilliam.

An American energy company called PPL bought one of many state-owned British utilities privatized in the 1980s. In 1997, PPL thus became subject to the UK’s new “windfall tax,” which was based in part on “profit-making value”—the utility’s average annual profit multiplied by an imputed price-to-earnings ratio.

Gingrich & Woolsey on Energy

The other day, The Wall Street Journal provided a public service by lambasting Newt Gingrich for his absurd speech to the ethanol lobby in Des Moines last month (money line:  ”Obviously big urban newspapers want to kill it because it’s working, and you wonder, ‘What are their values?’”).  Today, Gingrich and fellow ethanol-maven James Woolsey struck back in those very same pages.  In doing so, Gingrich

Preparing for Life as a Light Bulb Black Marketeer

 I’ve decided the time has come to become an entrepreneur – as a black market operator.

Come next January, 100-watt incandescent light bulbs will be illegal, courtesy of Congress and President George W. Bush.  Lower wattages will be banned the following year.  As usual, politicians in Washington believe they know best and are determined to inconvenience the public in the name of saving energy.

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