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QOTD: The Climate-Industrial Complex May 21, 2009

Posted by federalist in Economic Policy, Energy, Markets.

The always incisive Bjorn Lomborg describes the emergence of a “climate-industrial complex” of politicians, special-interest groups, and for-profit corporations.

 Spending a fortune on global carbon regulations will benefit a few, but dearly cost everybody else.



1. federalist - June 5, 2009

Here’s a promising blog: The Resilient Earth — “Bringing a dose of skeptical reality to Climate Science and the Global Warming debate.”

2. federalist - March 29, 2011

Amusing anecdote about the extent of regulatory obfuscation of energy prices:

In west Texas, for example, it’s common now to have negative price periods during which suppliers actually pay grid operator ERCOT to take their power. This energy market distortion is caused by Production Tax Credit and Texas Renewable Energy Credit revenue that is solely based on the quantity of energy produced, not on when the energy is needed by the grid. Market data show instances when negative power prices have reached up to $35/MWh before wind farms were shut down, giving insight into the level of subsidies owners receive for that wind energy.

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