Postmortem on the waxman markey cap and trade bill

Free Slides from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/ Postmortem on Waxman- Markey: The Politics of Cap-and-Trade Post prepared July 28, 2010 Terms of Use: These slides are made available under Creative Commons License Attribution—Share Alike 3.0 . You are free to use these slides as a resource for your economics classes together with whatever textbook you are using. If you like the slides, you may also want to take a look at my textbook, Introduction to Economics , from BVT Publishers.

The Death of the Waxman-Markey Cap-and-Trade Bill ,[object Object],[object Object],[object Object],Post P100728 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/ Source: http://commons.wikimedia.org/wiki/File:Global_warming.JPG

The Basic Economics of Carbon Emissions ,[object Object],[object Object],Post P100728 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/ ,[object Object],[object Object],[object Object],[object Object]

Controlling Emissions with a Carbon Tax ,[object Object],[object Object],[object Object],Post P100728 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/

Controlling Emissions with Cap-and-Trade ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Post P100728 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/

Comparison of Effects on Emissions ,[object Object],[object Object],[object Object],[object Object],[object Object],Post P100728 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/

Comparison of Effects on Government Revenue ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Post P100728 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/ *Estimate by Carbon Tax Center www.carbontax.org

Political Advantages of Cap-and-Trade: Building Coalitions ,[object Object],[object Object],[object Object],Post P100728 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/ Source: http://commons.wikimedia.org/wiki/File:Political_volunteers.jpg

Political Advantages of Cap-and-Trade: Avoiding Tax Resistance ,[object Object],[object Object],[object Object],[object Object],Post P100728 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/ Source: http:// commons.wikimedia.org/wiki/File:Taxprotestorsmis.jpg ; http://commons.wikimedia.org/wiki/File:No_IRS.svg

Results of Coalition Building in Waxman-Markey ,[object Object],[object Object],[object Object],[object Object],Post P100728 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/ HR 2454, The American Clean Energy and Security Act or Waxman-Markey bill, passed the House in 2009 but failed to come to a vote in the Senate and is officially dead as of July 2010

Collapse of the Cap-and-Trade Coalition in the Senate ,[object Object],[object Object],[object Object],[object Object],Post P100728 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/ Under current rules of the U.S. Senate, a 60% majority is required to pass most legislation. Picture source: http://upload.wikimedia.org/wikipedia/commons/a/a6/US_Senate_Session_Chamber.jpg

Lessons of Waxman-Markey ,[object Object],[object Object],[object Object],[object Object],Post P100728 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/

Postmortem on the waxman markey cap and trade bill

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Postmortem on the waxman markey cap and trade bill