• Do carbon taxes reduce emissions?
    Do Carbon Taxes Reduce Emissions? The argument usually arrives disguised as arithmetic. A legislator holds up a chart, a pundit cites a gasoline price, an economist sketches a tidy curve on television. Carbon taxes, we are told, work because people respond to prices. Raise the cost of pollution and pollution declines. Elegant. Mechanical. Almost Newtonian. But carbon is not emitted by...
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  • How does carbon pricing work?
    How Does Carbon Pricing Work? There is a habit in economics, especially in rooms with polished tables and filtered air, to speak about carbon as though it were an abstraction. A metric. A unit. A derivative of energy consumption. Yet carbon dioxide is physical. It leaves a tailpipe warm. It rises from a smokestack with the invisible confidence of empire. It lingers in oceans that absorb heat...
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  • Is green energy economically viable?
    Is Green Energy Economically Viable? The first time I stood beneath a utility-scale wind turbine, I expected noise. Machinery always announces itself. Diesel engines rattle. Coal plants exhale like exhausted dragons. Even the fluorescent lights in old office buildings buzz with the low anxiety of consumption. But the turbine made almost no sound at all. The blades moved with a slow authority,...
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  • What is a carbon tax?
    What Is a Carbon Tax? A refinery in Texas exhales more carbon dioxide before dawn than a forest can absorb in months. A container ship crossing the Pacific burns bunker fuel so dense and sulfurous that, if poured into a stream, it would resemble an industrial crime scene. Yet the invoice for this damage rarely arrives. The atmosphere receives the bill. Future generations inherit the debt....
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  • What is cap-and-trade?
    What Is Cap-and-Trade? There is a moment that arrives in certain industrial cities just before dawn when the air becomes visible. Not fog. Not weather. A chemistry of exhaust, sulfur, nitrates, carbon, and microscopic particulates suspended low enough to taste. I remember standing near the ship channel outside Houston years ago while a refinery exhaled steam against a bruised sky. A worker...
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  • What is renewable energy economics?
    What Is Renewable Energy Economics? There is a moment, usually just before dawn, when a wind farm becomes less an industrial artifact and more a geography. The turbines stop resembling machines. They stand like white reeds in a marine current no one can see. I remember driving through west Texas years ago, passing a cattle ranch whose owner once leased land for oil pumps and now leased it for...
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