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Author Archive | Frank Ackerman

Facing Up to the Real Cost of Carbon

Your house might not burn down next year.  So you could probably save money by cancelling your fire insurance. That’s a “bargain” that few homeowners would accept. But it’s the same deal that politicians have accepted for us, when it comes to insurance against climate change.  They have rejected sensible investments in efficiency and clean […]

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Offshore Oil Drilling and Hurricane Risks

It’s time to stop blaming BP — alone.  At least four other oil companies hired the same firm to write their plans for handling spills in the Gulf of Mexico.  They ended up with nearly identical plans, complete with thoughtful concern about impacts on walruses.  The CEO of ExxonMobil called it “unfortunate” and “embarrassing” that […]

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CRED: A New Model of Climate and Development

  The climate policy debate has largely shifted from science to economics.  There is a well-developed consensus, at least in broad outlines, about the physical science of climate change and its likely implications.  That consensus is embodied in massive general circulation models (GCMs) that provide detailed projections of average temperatures, precipitation, weather patterns, and sea-level […]

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Socializing Risk: The New Energy Economics

Despite talk of a moratorium, the Interior Department’s Minerals and Management Service is still granting waivers from environmental review for oil drilling in the Gulf of Mexico, including wells in very deep water.  Until last month, most of us never thought about the risk that one of those huge offshore rigs would explode in flames […]

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The Social Cost of Carbon: A Report for the Economics for Equity and the Environment Network

Executive Summary: In its first attempts to regulate carbon emissions, the U.S. government is undermining its own efforts by relying on deeply flawed economic models that lead to gross miscalculations of the impact of carbon on the climate and on the nation’s economic future. Agencies seeking to incorporate climate change considerations in rules and regulations […]

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