Planet Gore

Obama’s Accidental Emissions-Reduction Plan

President Obama’s imminent proposal to allow businesses to expense capital equipment through the end of next year is something my colleagues at CEI — particularly Marlo Lewis — have been advocating for some time. Not as “stimulus” (though it should have some stimulative effect — if not enough of one to overcome the negative effect of Obama’s refusal to maintain current income-tax rates in 2011). But as an emissions-reduction scheme.

The logic is simple, and the Dutch have shown (again, accidentally) how this works to reduce emissions: Businesses do not replace capital equipment as early or often as they might like because the tax code disincentivizes it — with depreciation schedules, instead of treating it like other business expenses. They therefore pospone purchasing newer, more efficient (and typically more energy efficient) equipment. Change that, and you should see newer technology put into use sooner.

In a way, this would simply pull inevitable technology investments forward on the calendar, in the same way that the cash-for-clunkers program did. But its still the smart thing to do. You get emission reductions without harming economic growth, but actually by encouraging it.

But there is a downside for Obama and the Dems: the political class do not get to reward their constituencies with cap-and-trade wealth transfers, the initiative won’t cause the cost of energy to “necessarily skyrocket,” and it won’t give politicians and bureaucrats expanded control over our lives.

Most Popular

Film & TV

Hillbilly Elegy: Ron Howard’s Inverted Mayberry

Hollywood knows two registers when it comes to the white working class (WWC): sentimentalizing and condescending. WWCs are either cute, neighborly, and folksy, or they constitute a tawdry, alien life form. There are 130 million WWCs in our country, and yet nobody in Hollywood has the slightest grasp of them. With ... Read More
Film & TV

Hillbilly Elegy: Ron Howard’s Inverted Mayberry

Hollywood knows two registers when it comes to the white working class (WWC): sentimentalizing and condescending. WWCs are either cute, neighborly, and folksy, or they constitute a tawdry, alien life form. There are 130 million WWCs in our country, and yet nobody in Hollywood has the slightest grasp of them. With ... Read More
History

The 1620 Project

On November 11, 1620, the Mayflower arrived on the eastern coast of North America. She had weathered the slings and arrows of maritime misfortune for almost ten weeks at that point, but the passengers thought the discomfort of crossing a small price to pay for passage to the Promised Land. After all, these were ... Read More
History

The 1620 Project

On November 11, 1620, the Mayflower arrived on the eastern coast of North America. She had weathered the slings and arrows of maritime misfortune for almost ten weeks at that point, but the passengers thought the discomfort of crossing a small price to pay for passage to the Promised Land. After all, these were ... Read More
The Economy

The New York Times Sells Envy

A product always sure to sell, even on Thanksgiving, and especially amid a pandemic, is envy. So I can hardly blame New York Times columnist Farhad Manjoo for capitalizing on a bull market. Lamenting that the portfolios of America’s richest men and women have made a quicker recovery from the ... Read More
The Economy

The New York Times Sells Envy

A product always sure to sell, even on Thanksgiving, and especially amid a pandemic, is envy. So I can hardly blame New York Times columnist Farhad Manjoo for capitalizing on a bull market. Lamenting that the portfolios of America’s richest men and women have made a quicker recovery from the ... Read More
U.S.

Raise the Entrance Fees for Our National Parks

In my role as your go-to purveyor of unpopular opinions, I offer this: We should jack up the entrance fees for our national parks — a lot. One of the many disappointments of the Trump administration is that in spite of his DGAF posturing, Donald Trump has always been a slave to public opinion, which made his ... Read More
U.S.

Raise the Entrance Fees for Our National Parks

In my role as your go-to purveyor of unpopular opinions, I offer this: We should jack up the entrance fees for our national parks — a lot. One of the many disappointments of the Trump administration is that in spite of his DGAF posturing, Donald Trump has always been a slave to public opinion, which made his ... Read More
History

Thanksgiving Is Not a Lie

We live in a time of heedless iconoclasm, and so one of the country’s oldest traditions is under assault. Thanksgiving is increasingly portrayed as, at best, based on falsehoods and, at worst, a whitewash of genocide against Native Americans. The New York Times ran a piece the other day titled, “The ... Read More
History

Thanksgiving Is Not a Lie

We live in a time of heedless iconoclasm, and so one of the country’s oldest traditions is under assault. Thanksgiving is increasingly portrayed as, at best, based on falsehoods and, at worst, a whitewash of genocide against Native Americans. The New York Times ran a piece the other day titled, “The ... Read More