Raymond Richman - Jesse Richman - Howard Richman
Richmans' Trade and Taxes Blog
Washington Post Condemns European Climate Policies
The Washington Post editorial board condemns Europe's mis-managed greenhouse gas emissions policies in an editorial today. http://www.washingtonpost.com/opinions/europe-is-becoming-a-green-energy-basket-case/2013/04/21/4b1b81d0-a87e-11e2-b029-8fb7e977ef71_story.html
Europe's failed effort to implement a continent-wide cap on greenhouse gas emissions managed through a market for carbon permits is the central focus of the editorial.
"For a variety of reasons that E.U. officials should have anticipated, the market for carbon permits has all but collapsed. And in a Tuesday vote, the European Parliament rejected a slapdash rescue plan."
The editorial mentions in passing several times the critical reason that U.S. emissions are dropping, but it never gives this cause its appropriate and oft over-condemned name: the fracking and horizontal drilling revolution that has dramatically increased U.S. natural gas stocks.
Journal of Economic Literature:
Atlantic Economic Journal: