Tag Archives: economics

Regulatory actions effect “everyday Americans” and the national economy

“Coincident with the 2017 Presidential inauguration, real GDP growth changed from underperforming experts’ forecasts to outperforming them (Tankersley 2019). The CEA’sfindings on the aggregate effects of regulations and deregulations may help explain this state of affairs. Regulatory actions and their aggregate effects may be easily overlooked and underestimated because the actions are numerous and, if not seen through the lens of economic analysis, may appear cryptic to the general public. This report helps to narrow this information gap by showing the importance of the deregulatory agenda for everyday Americans as well as the national economy.” click here

The “new energy economy” of wind/solar simply doesn’t add up – do the math!

“A week doesn’t pass without a mayor, governor, policymaker or pundit joining the rush to demand, or predict, an energy future that is entirely based on wind/solar and batteries, freed from the “burden” of the hydrocarbons that have fueled societies for centuries. Regardless of one’s opinion about whether, or why, an energy “transformation” is called for, the physics and economics of energy combined with scale realities make it clear that there is no possibility of anything resembling a radically “new energy economy” in the foreseeable future. Bill Gates has said that when it comes to understanding energy realities “we need to bring math to the problem.”

He’s right. So, in my recent Manhattan Institute report, “The New Energy Economy: An Exercise in Magical Thinking,” I did just that.” click here

A carbon tax hurts everyone and has no effect on climate changes

“A carbon tax increases the cost of everything Americans buy and lowers Americans’ effective take home pay. A carbon tax increases the power, cost, and intrusiveness of the government in our lives,” click here

What are the actual costs of wind power?

“By including the cost of government subsidies and other unseen costs of wind power, it is easy to conclude that the cost of wind energy is much higher than many studies estimate. Before the enactment of more policies and mandates that bolster the no-longer-infant wind industry, the actual costs of wind power to American taxpayers should be calculated. This will ensure that future policy decisions are based on comparisons of the actual costs and benefits of wind power.” click here

Exactly how large are global fossil fuel subsidies?

“The expenses involved in extracting a depleting resource have to be written off as the resource is produced (depletion allowance). Some capital expenditures are allowed to be written off as expenses, rather than capitalized over time. When we drill wells, tangible drilling expenditures (items with salvage value) have to be capitalized. Intangible drilling expenditures (services and materials with no salvage value) can written off as expenses. According to the most recent EIA analysis of energy subsidies, fossil fuels received almost no net subsidies…”

A decline in the cost of solar panels (per watt) still raises energy prices dramatically

“Between 2009 and 2017, the price of solar panels per watt declined by 75 percent while the price of wind turbines per watt declined by 50 percent.

And yet — during the same period — the price of electricity in places that deployed significant quantities of renewables increased dramatically.” click here

No climate trend in hurricane damage losses

Jessica Weinkle, Chris Landsea, Douglas Collins, Rade Musulin, Ryan P. Crompton, Philip J. Klotzbach, Roger Pielke Jr. Normalized hurricane damage in the continental United States 1900–2017. Nature Sustainability (2018)

Direct economic losses result when a hurricane encounters an exposed, vulnerable society. A normalization estimates direct economic losses from a historical extreme event if that same event was to occur under contemporary societal conditions. Under the global indicator framework of United Nations Sustainable Development Goals, the reduction of direct economic losses as a proportion of total economic activity is identified as a key indicator of progress in the mitigation of disaster impacts. Understanding loss trends in the context of development can therefore aid in assessing sustainable development. This analysis provides a major update to the leading dataset on normalized US hurricane losses in the continental United States from 1900 to 2017. Over this period, 197 hurricanes resulted in 206 landfalls with about US$2 trillion in normalized (2018) damage, or just under US$17 billion annually. Consistent with observed trends in the frequency and intensity of hurricane landfalls along the continental United States since 1900, the updated normalized loss estimates also show no trend. A more detailed comparison of trends in hurricanes and normalized losses over various periods in the twentieth century to 2017 demonstrates a very high degree of consistency.