ISS 310 Lecture Notes - Lecture 13: Public Knowledge, Social Cost, British Thermal Unit
20 Sep 2016
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Ex: lower crime, more economic growth, more jobs. Determined by fuel prices, capacity constraints, capital costs, etc. Incentive to build plants with low fuel costs (e. g. , coal and natural gas) Pollutants > asthma, lung cancer, crop damage etc. Authors treat as separate from long term costs. Pre-combustion capture using igcc to isolate and capture co2 before it is released. Demand for cheap, clean, reliable energy > innovation > energy is cheaper, more efficient, less polluting. Lack of regulations (epa got co2 authority in 2007) Lack of demand (public knowledge only since 1990s) Health care costs, lost workdays, cost of cleanup. Total for all us energy production: billion/ year. Social costs from co2 and global warming hard to model. Most serious consequences will be generations into the future. Vast majority of co2 emissions come from fossil fuels. Long-term trend toward cheaper, more efficient, cleaner energy. Energy sources can be differentiated by price and social cost.
