Mike Kennedy — Jun 10, 2010
If anyone is still not convinced that our ongoing subsidization of fossil fuel consumption is irrational (to say the least), a recent statistic released by the International Energy Agency (IEA) should prove convincing.
In 2008, the world economy subsidized oil consumption to the tune of US$557 billion in developing countries and provided as much as US$100 billion in subsidies to oil production in developed countries. Meanwhile, the top five earning publicly traded oil companies reaped $US150 billion in profits ( ExxonMobil $US45.2 billion, Royal Dutch Shell $US31.4 billion, BP $US25.6 billion, Chevron $US29.3 billion). According to the report by the IEA, this level of subsidy, if removed, could reduce oil consumption by 850 million tonnes (6.7 billion barrels) by 2020- the combined consumption of Japan, South Korea, Australia and New Zealand or 13 years of oil sands production at current rates of extraction.
Mike Kennedy — May 04, 2010
I was flying over the Gulf of Mexico when I first learned about British Petroleum's Deepwater Horizon oil spill. At 30,000 feet from my plane window the oil spill looked something like a tailings pond surrounded by an ocean of blue. As anyone who is following the news coverage knows, this small pond of oil has spread into what may be the worst environmental disaster of this century and it will turn into quite the economic disaster as well.
Amy Taylor — Mar 04, 2010
In response to the global economic downturn, many world leaders have introduced significant economic stimulus packages in an effort to ramp up economic development. Seizing the opportunity to kick-start a green economy, forward-thinking governments are getting double-duty out of these plans by dedicating a significant chunk of stimulus spending towards renewable energy and efficiencies. Canada? Not so much.
Amy Taylor — Mar 01, 2010
When federal finance minister Jim Flaherty recently announced changes to the rules governing mortgage approvals in Canada, he took a first step in recognizing we’ve been spending more than we’re making and increasing our debt loads in an unsustainable way. If we were measuring our economic well-being in a more holistic way, we’d have recognized the unsustainable debt levels long ago and been able to take preventative measures.
Mike Kennedy — Feb 03, 2010
I used to think that the only thing needed for better environmental policy was a government that could stand up to polluters. While this still may be the most effective approach in some instances, these days, I realize the issues are more complex. In some situations, direct financial incentives may be an effective way to improve environmental quality.
Amy Taylor — Jan 04, 2010
Time to crack open the 2010 calendar. Another year gone by. The Christmas decorations are now back in storage, the left-over turkey all gone, and the New Year's resolutions are firmly in hand. This year, I decided to come up with a few green economics resolutions for Canada.
Marlo Raynolds — Dec 07, 2009
On Friday Dec. 4, a friend, colleague and very important person in the pursuit of helping Alberta improve its environmental performance passed away. His name was Peter Dickey. Over the past decade I had the honor to get to know Peter as he provided mentorship and feedback on how the Pembina Institute should pursue our objectives.
Amy Taylor — Dec 04, 2009
The Alberta provincial government handed out another early Christmas present yesterday — more money for carbon capture and storage.
Amy Taylor — Nov 25, 2009
Welcome to the home of our new Green Economics Blog. My name is Amy Taylor and I am one of two economists on staff at the Pembina Institute. The other economist, Mike Kennedy, and I will be making posts to this blog on a regular basis. We hope you will check back to see our latest thoughts on everything green economics!
