Tag Archives: carbon tax

Carbon Taxes Increase Carbon Dioxide Emissions

“Instead, adopting carbon taxes in the West will actually raise global carbon emissions by offshoring economic activity from relatively environmentally-friendly places, like the USA and Germany, to places with lax environmental laws, like China.” click here

Congressional Hearing: At What Cost? Examining the Social Cost of Carbon

US House Subcommittee on Environment and Subcommittee on Oversight.

At What Cost? Examining the Social Cost of Carbon, Tuesday, February 28, 2017, 2318 Rayburn House Office Building
The written testimony is here.

A Carbon Tax will Not Make Renewables More Affordable or Alleviate their Problems

“Imagine for a moment that all the wild claims of climate driven future weather disasters will occur as predicted. In this imaginary future climate dystopia, how will wind power cope with super storms? How will solar power cope with hail, tornadoes, cyclones and floods? How will hydro power cope with endless droughts? How will biofuel crops cope with storm damage, droughts and unseasonal heatwaves?” click here

Prominent Republicans Talk Nonsense on Carbon Tax

“A group of prominent Republicans and business leaders pitched a tax on carbon dioxide to top White House aides Wednesday, selling the plan as an economic win that could drive job growth and yield environmental dividends too.” click here

British Columbia’s Carbon Tax a Failure

“Whether you look at greenhouse gas emissions or economic statistics, B.C. carbon tax has tanked.click here

If the Social Cost of Carbon is Negative, then the Social Benefit of Carbon is Positive

Kevin Dayaratna, Ross McKitrick, David Kreutzer. Empirically-Constrained Climate Sensitivity and the Social Cost of Carbon. (April 5, 2016). Available at SSRN: http://ssrn.com/abstract=2759505

Integrated Assessment Models (IAMs) require parameterization of both economic and climatic processes. The latter include Ocean Heat Uptake (OHU) efficiency, which represents the rate of heat exchange between the atmosphere and the deep ocean, and Equilibrium Climate Sensitivity (ECS), or the surface temperature response to doubling of CO2 levels after adjustment of the deep ocean. Due to a lack of adequate data, OHU and ECS parameter distributions in IAMs have been based on simulations from climate models. In recent years, new and sufficiently long observational data sets have emerged to support a growing body of empirical ECS estimates, but the results have not been applied in IAMs. We incorporate a recent observational estimate of the ECS distribution conditioned on observed OHU efficiency into two widely-used IAMs. The resulting Social Cost of Carbon (SCC) estimates are much smaller than those from models based on simulated parameters. In the DICE model the average SCC falls by 30-50% depending on the discount rate, while in the FUND model the average SCC falls by over 80%. The span of estimates across discount rates also shrinks considerably, implying less sensitivity to this parameter choice.