Tuesday, March 24, 2015

The real cost of coal

I use James Stock and Mark Watson's excellent textbook in my undergrad econometrics class. Like all textbooks, it seems outrageously priced. But I'm happy to send a little business Jim Stock's way when he is so sensible and right on a pet topic of mine. All I would add to his "adder" (an extra royalty charge on coal to account for carbon) would be a further surcharge for mountaintop removal...
The greenhouse gas burden from coal taken from government lands can no longer be ignored. Using a carbon adder to increase the royalties that taxpayers receive is a sensible step in the right direction.

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