Climate change is a market failure

In a February 14, 2017  post, Carbon Brief blog says “Climate change is a classic market failure. The costs of burning CO2 are borne by society at large, but the benefits accrue to those burning fossil fuels.”  The Social Costs of Carbon (SCC) are currently set by the EPA at $37 a ton.

Just what those costs are was the subject of a hearing by the House Committee on Science, Space, and Technology on Feb. 28.  Read about it here in the Guardian.

 

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Exxon’s write-down

On February 24,  the Institute for Energy Economics and Financial Analysis posted on ieefa.org  about the recent announcement by ExxonMobil to its shareholders that at the end of 2016, it  has 19% “fewer proven and probable oil reserves.”

This is a good introduction to how  Exxon “suddenly became smaller.”  And why.

 

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Introduction to Citizens’ Climate Lobby

Citizens’ Climate Lobby published this introductory video on You Tube in 2016.  Your comments are welcomed!

 

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Producers see oil demand peaking

This  Wall Street Journal article from November, 2016, reports on the trend of global oil producers beginning to acknowledge the inevitability of a shift from oil-based fuels to natural gas and renewables.

 

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“From Risk to Return”

This report is about the benefits of  Investing in a Clean Energy Economy.

“Economic risks of unmitigated climate change to American businesses and long-term investors are large and unacceptable.”  This was the finding of the Risky Business Project, in their  initial report in 2014, “Risky Business: The Economic Risks of Climate Change in the United States.”

The Co-Chairs of the Project are Michael Bloomberg, Henry Paulson Jr., and Tom Steyer.

Very useful data and analysis using modeling of four possible pathways to an 80% reduction in carbon emissions by 2050.

One of the policy foundations they call for is a price on carbon.

 

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Do we need a war on climate change?

Eric S. Godoy and Aaron Jaffe’s opinion was published today in the Opinion in New York Times.  They say “We don’t need a war on climate change, we need a revolution.”

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Cycling for Climate Solutions

The Missoulian published an interview with our Cross Country Cyclers as they visited Missoula and presented at Imagine Nation Brewing. Next stop is Great Falls. They will meet at the Celtic Cowboy on September 13 and talk about their trip for climate solutions awareness.

Follow them on Facebook! Low Carbon Crossings.

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