Renewable energy mandates are costly climate policies
Amy Harder, Axios, April 22, 2019
One of the most popular climate-change policies in America — renewable energy mandates — is also expensive, a new study says. Driving the news: Standards in roughly 30 states that require a portion of electricity to come from renewable sources, mostly wind and solar, are driving up power prices and imposing a high cost to reduce carbon dioxide emissions, according to a new report out today by the University of Chicago. The big picture: Urgency about climate change is growing around the country, with numerous states ramping up their renewable-electricity requirements and lawmakers in Washington mulling similar policies as proposed in the Green New Deal. This report, one of the most comprehensive analyses of its kind, questions the conventional wisdom that says these policies are effectively addressing climate change.
Related – from the Washington Examiner Daily on Energy:
WASHINGTON STATE PASSES 100 PERCENT CLEAN ENERGY BILL: The Washington State legislature passed a bill Monday requiring utilities to generate 100 percent carbon-free electricity by 2045.
The measure would also force utilities to stop using coal power by 2025.
Washington is the fourth state in the country, following California, New Mexico, and Hawaii, as well as Washington D.C., to pass 100 percent clean energy legislation.
Washington Gov. Jay Inslee, a Democratic presidential candidate running a climate-centric platform, is expected to sign the bill.
“On this Earth Day, I couldn’t be more proud of the Legislature’s action to pass the country’s most forward-looking clean energy bill,” Inslee said in a statement
Oil prices hit nearly 6-month highs on fears Trump’s Iran crackdown will lower supply
Tom DiChristopher, CNBC, April 22, 2019
Key Points:
- Oil prices hit fresh 2019 highs, continuing to rally after Washington announced plans to slash Iranian crude exports.
- The Trump administration will no longer grant sanctions waivers that allow limited purchases of Iran’s oil.
- Saudi Arabia says oil producers will “ensure adequate supplies are available to consumers.”
Related:
Why Goldman Sachs Believes Oil Won’t Go Higher
