Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. These days I'm retired, and I can't by law give you advice. I do make mistakes, but I try hard to do my analysis thoroughly, and to make sure my data are correct. Remember: the unexpected sometimes happens. The expected does too, but all too often it takes longer than you thought it would.
The Goddess of Markets punishes (eventually) greed, folly, laziness and arrogance. No matter how many years you've served Her. Take care. Be humble. And don't blame me.
BTW, clicking on most charts will produce the original-sized, i.e., bigger version.
Tuesday, July 1, 2014
More on BC's Carbon Tax
Carbon taxes work. Contrary to our esteemed PM's gabble before the the introduction of Oz's carbon tax, there was no slowdown in Australia's economy after it came in, just as there wasn't in British Columbia, which introduced one before we did with huge success Yet in both Australia and BC carbon use fell. As Grist's article points out, it's likely that BC, Oregon, Washington and California will join up into a single coordinated carbon pricing zone. This will complement the east coast RGGI and the schemes in Quebec and Ontario. And Mexico has started to move towards solar power as costs drop (table in Wikipedia piece out of date). By my calculations roughly half of North America will be part of major carbon emission control measures. And that's before President Obama's new initiatives.
I'm still hoping that sense will prevail.