October 23, 2013

HIKE CARBON TAXES AND WE'LL DO EVEN BETTER:

US Is Figuring Out Green Growth (Walter Russell Mead, 10/23/13, American Interest)

America's energy-related carbon emissions dropped 3.8 percent in 2012 to their lowest level in 18 years. Emissions were down even while the American economy grew; it was the largest drop ever recorded in a non-recession year. The Energy Information Administration reports:

Although GDP increased by 2.8 percent in 20121, energy consumption fell by 2.4 percent (2.4 quadrillion Btu) in that same year--the result was a 5.1 percent decline in energy use per dollar of GDP and this meant emissions were about 282 million metric tons CO2 (MMTCO2) lower.

Much of Europe's recent emissions decreases have been attributed to its anemic economy. But America's recent green success has come from its ability to decouple economic growth from energy consumption (and therefore carbon emissions). 

Posted by at October 23, 2013 9:41 PM
  

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