climate economics

Category archives for climate economics

Or so energylivenews says (thanks to J). Their text is: Governor of the Bank of England Mark Carney appears to agree most fossil fuels can’t be used if the world is to avoid climate change. At a World Bank event on Friday, he is quoted as saying: “The vast majority of reserves are unburnable.” This…

Well, of course, this is trivially true, in the sense that $0 is “up to $1bn” and the report doesn’t suggest that it could be more than $1bn. I got this from the Graun which continues to irritate by pointlessly and stupidly failing to link to the original study. I assume they do this because,…

Prompted by PB I read Gambling with Civilization by Paul Krugman, which is a review of The Climate Casino: Risk, Uncertainty, and Economics for a Warming World by William D. Nordhaus. I haven’t read the latter. The Climate Casino is in no sense the work of someone skeptical about either the reality of global warming…

Quite a lot really. Unless, of course, you’re looking at the wrong models in the wrong way. As Robert S. Pindyck does. I do have some sympathy for the paper, but its badly written, somewhat confused, and the author has failed to emphasise some key distinctions. To begin with where I agree, I’m fairly happy…

I follow David Hone, though not the details. He’s really keen on CCS, and has (I think) a strong commercial interest in it succeeding. But there is no real answer to “its not commercially viable” – and I think it remains non-viable even at plausible CO2-price levels ($80 / tonne is Sternish, no?). So, inevitably,…

Says Aunty. And the Graun says “Arctic thawing could cost the world $60tn, scientists say”. $60tn is a big number. But lets not trouble ourselves with the popular press: lets go straight to the source, which is Nature (“Vast costs of Arctic change”, by Gail Whiteman, Chris Hope and Peter Wadhams). Is that an impeccable…

Says the Economist. THIS is an unusually busy moment in the unhappy history of efforts to curb climate change. In two weeks at the end of June the world’s three biggest polluters unveiled carbon-reducing measures. In China and America these are more ambitious than previous policies. But they fall far short of what is needed…

That’s over at P3. But I’ve seen it elsewhere. The idea is that because we’ll need to keep unburnt oil in the ground to hit (or rather, to not hit) a 2 oC commitment, a pile of oil companies are wildly overvalued, leading to… well, who cares what it leads to, because it doesn’t matter.…

Answer: both are complex disciplines. But because they deal with every-day events, amateurs regularly assume that they know enough to dismiss the entire field. Suppose you wanted to know what was wrong with climatology: how far is it really understood, what can it usefully describe and what not, what can it usefully predict: who would…

The ETS is stupid, part n

As regular readers will be aware, I think the ETS is stupid, and we should be imposing a carbon price via carbon taxes instead (Time for carbon taxes? and refs therein, if you’re interested in the history). But David Hone isn’t, he likes the ETS, and nice person that he undoubtedly is, it cannot be…