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econospeak.blogspot.com - 6/16/2009
The Waxman-Markey Disaster: Offsets for Every Purse and Purpose
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Willem Buiter has noticed another flaw with Waxman-Markey: its carbon reduction targets are purely hypothetical, since virtually all of them, from now to 2050, can be “met” with offsets. Buiter mentions my favorite argument against the offset trade: it relies on an epistemological ...

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Marginal Revolution:  Some notes on energy policy

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Some notes on energy policy
Marginal Revolution — ... forward and promised to deliver higher energy prices? I predict and fear that Waxman-Markey, if it passes, will deliver a more politicized energy sector without real progress on #1.  I know all about the apparently impressive quotas for the out years.  I also know how easy it will be for Congress to hand out more permits, perhaps in return for phony yet rent-seeking laden carbon offsets.  That's what the political equilibrium looks like. 5. Here is a very good blog post on carbon offsets. 6. It is easy enough for someone to complain: ...

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