Coase Colored Glasses

Wednesday, March 16, 2005

greens seeing blue and mercury

Go the the commonsblog to read about a New York TImes articles and one from the director of the Izaak Walton League on green alarmism. We will talk in class about their analysis of why there is so much alarmism. The articles sound very much like the O'Toole article we read during the first week of the semester. Also read about the new EPA mercury rules. Apparently we will spend $5.5 billion to get about about $150 million. Robert Hahn, the co-author of the mercury study was the point person for getting emissions trading established as part of the 1990 Clean Air Act amendments and is considered one of the nation's experts on the topic.

1 Comments:

At 4:23 PM, Anonymous Anonymous said...

Yeah, spending $5.5 billion to get $150 million is absurd, but the plan from the environmentalists is worse - spending 20 billion to get $140 million.

The people who wrote the study cited by Iain Murray admit in the text that they are throwing out old methods of measuring benefit and using estimates of value from fish that are caught and consumed in the U.S. Since half of the fish consumed in the U.S. is imported, this distorts things somewhat. In the study itself, it seems like every other paragraph begins with "While there is a limited understanding" or "Little information is available" or "We really don't know what we're doing, we're just making up numbers for the sheer pleasure of it." I choose to question the validity of their study on general principle.

 

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