In the long run, the best estimate of the price elasticity of demand for auto fuel seems to be -0.7. That is, a 10 percent rise in prices will reduce gas consumption by 7 percent. Of this, 4 points come from shifting to cars with better mileage, 3 points from driving less.Even though McKitrick is a well-known member of the "no action required" camp, it's an interesting proposal. The troposphere is indeed warming.
Energy Tribune- Is It Really The Warmest Ever?And a bit more on that...
Despite claims to the contrary, in recent years, global temperatures stopped warming. Even Phil Jones of the UK Climate Research Unit after Climategate admitted there has been no statistically significant warming since 1995 (15 years) and between 2002 and 2009, the global temperatures had declined 0.12C (0.22F).
BBC News - Q&A: Professor Phil JonesI think there's a lot less 'warming' going on than advertised - and I also think it's not going to matter at all to those who get some sort of satisfaction (either financial or emotional) out of pushing it.
B - Do you agree that from 1995 to the present there has been no statistically-significant global warming?
Yes, but only just. I also calculated the trend for the period 1995 to 2009. This trend (0.12C per decade) is positive, but not significant at the 95% significance level. The positive trend is quite close to the significance level. Achieving statistical significance in scientific terms is much more likely for longer periods, and much less likely for shorter periods.
C - Do you agree that from January 2002 to the present there has been statistically significant global cooling?
No. This period is even shorter than 1995-2009. The trend this time is negative (-0.12C per decade), but this trend is not statistically significant.
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The proposal does not address the first two points of "stalemate". Nor is there much that seems new in this. The Economist magazine has long supported (and continues to support) a carbon-tax, but I am skeptical.
In Sweden, petrol is the equivalent of 8 dollars a gallon and it seems to me that people none the less drive as much as they need to. The introduction of a congestion fee around Stockholm city has not either changed people's driving habits. Both are just sources of cash income for the national government to spend on whatever.
The carbon tax might start off at a rate that would raise the cost of a gallon of gasoline by a nickel — or, if there were political will, perhaps 10 or 15 cents. Those numbers are all too low to satisfy environmentalists worried about climate change.
See above. Adding 10 or 15 cents tax to the cost of an American gallon won't do anything to change people's driving habits. Introducing a new tax will just piss a large part of the population off.
If there were political will - assuming conservative will support any tax and liberals will not oppose the regressive nature of the tax - to raise the price of petrol to 8 dollars a gallon it might have some effect - mostly keeping poor people off the streets - but if the example of Europe is any guide Americans will re-adjust and continue to drive as much as before.
If there were political will to raise the price to 25 dollars a gallon which might actually influence the driving habits of Americans, then America has bigger problems than controlling global warming.
posted by three blind mice at 3:13 AM on January 31, 2011