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Second Quarter Journal Review

Second Quarter Journal Review

 1. The Economic Impacts of Climate Change: Richard S J Tol, Review of Environmental Economics and Policy, Volume 12, Issue 1, 1 February 2018, Pages 4–25, https://doi.org/10.1093/reep/rex027: This article focuses on aggregate indicators of the effects of climate change on total economic welfare and on the distribution of those welfare impacts. The author argues that …

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Is the proposed hybrid/electric vehicle tax a good idea?

Is the proposed hybrid/electric vehicle tax a good idea?

In February, Maine’s Governor LePage proposed implementing a fee on the owners of electric and hybrid vehicles.[1]  He is not alone – 17 other states have already implemented similar fees[2]).  It may seem, at first glance, to be yet another slap in the faces of “liberal-minded environmentalists.”  But giving the Governor the benefit of the …

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First Quarter Journal Highlights: Regulations Behaving Badly

First Quarter Journal Highlights: Regulations Behaving Badly

  A recent article in the Journal of Environmental Economics and Management (JEEM) coined a new (albeit clunky) phrase: the macroeconomic environmental rebound/backfire effect.  This effect occurs when a “green improvement,” such as an energy efficiency program, results in less of an environmental improvement than expected. This is not due to unrealistic expectations, but due …

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Keeping the Lights On Doesn’t Mean More Pollution

Keeping the Lights On Doesn’t Mean More Pollution

In August of 2017, Energy Secretary and former governor Rick Perry proposed to strengthen subsidies to coal- and nuclear-fueled electricity plants.  Why?  According to his proposal, coal and nuclear power plants are indispensable to our national security by virtue of the fact that they can store energy on-site. And, since the past few years have …

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The Rising Cost of Hurricanes

The Rising Cost of Hurricanes

The hurricane season of 2017 has been a severely damaging one. Hurricane Harvey devastated parts of Texas, Maria savaged Puerto Rico, and Hurricane Irma dealt a punishing blow to an already-reeling Florida (not to mention Nate and Jose). As I write this, Hurricane Ophelia – the tenth named storm in a season that was predicted …

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Webinar: The Cost of Everything & the Value of Nothing

Webinar: The Cost of Everything & the Value of Nothing

Dates: 9/21, 10/19, 11/16 & 12/14 – 12:00PM – 1:30PM Cost:  $25 session/$80 full series Registration:  HERE Join economist Rachel Bouvier for a four-part webinar series entitled, “The Price of Everything and the Value of Nothing: What Environmental Professionals Should Know About Economics.” A firm grasp of economic principles is necessary to be able to articulate the …

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Waters of the United States: What’s economics got to do with it?

Waters of the United States: What’s economics got to do with it?

On June 27, 2017, the Environmental Protection Agency proposed a rule that would change the definition of the Waters of the United States (WOTUS).  On whose advice did they do this?  Why, economists’, of course! Huh? Let me back up.  In 2015, then-President Obama issued a document redefining which rivers, streams, lakes and marshes fell …

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Economic Resiliency in the Face of Climate Change

Economic Resiliency in the Face of Climate Change

Climate change is expected to have a number of effects in Maine, including coastal flooding, sea level rise, and changing precipitation patterns, among others.  Many efforts are already underway to help protect communities from those effects, including zoning changes, new building requirements, armoring or elevating critical infrastructure, and the like. These efforts all fall under …

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Can Maine benefit from mining?

Can Maine benefit from mining?

With Maine’s forested lands and iconic rocky shoreline, the notion that forestry and fishing were once the mainstays of Maine’s economy should come as no surprise to anyone familiar with the state. But mining? Well, yes – although you wouldn’t know it from looking at today’s employment figures.  But in addition to the geological phenomena …

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The Social Cost of Carbon: Implications for Maine (Part II)

The Social Cost of Carbon: Implications for Maine (Part II)

My most recent blog post, “The Social Cost of Carbon: Implications for Maine (Part I),” went into some of the details behind calculating the social cost of carbon – a number that is used to illustrate the economic damages anticipated by climate change and therefore linked to carbon dioxide emissions. This blog post will be …

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