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Fossil Fuels - Blog Posts
From the Washington Post:
"There are two ways to think about the cost of energy. There’s the dollar amount that shows up on our utility bills or at the pump. And then there’s the “social cost” — all the adverse consequences that various energy sources... end up foisting on the public."
"The blue bars represent the current market cost of various energy sources. On top of that, Greenstone and Looney have added estimated health damages from air pollution (the purple bar), as well as the cost of climate-changing carbon emissions that come with burning fossil fuels (the gray bar)."
"At the end of the paper, Greenstone and Looney argue that the government should put a price on the social costs of fossil fuels — either through a cap on emissions or a tax. “If firms and consumers faced the full cost of their energy use,” they write, “they would have a greater incentive to make more-informed and socially efficient decisions about energy consumption.”"