11 Jul Discussion 3
Participate in a discussion with your classmates regarding economic reasoning in government policies. Recall that economic reasoning is based on the premise that everything has a cost, thus, economic reasoning involves research and analysis in making decisions on the basis of costs and benefits. Therefore, based on the Discussion Rubric requirements, and your research and analysis, post your discussion explaining your concurrence or nonconcurrence regarding the sale of allowance market permits that industries exchange with each other, and whether the Obama Administration’s 2020 Climate goals are manageable, or whether they may undermine our economic growth.
The research material for this discussion includes the following two (2) articles:
1. Refer to the Real-World Application window titled, “Economics and Market Solutions”, on page 94 in the textbook. This article introduces an alternative approach, called cap-and-trade, that achieves a reduction of EPA regulated emissions, but at a lower overall cost. When clicking-on the Internet link in this article, www.epa.gov/airmarkets, open the “Allowance Markets” Tab within the Participants Icon to review the Allowance Markets Overview and Frequently Asked Questions for this program.
2. Refer to our NAU Online Library; after opening the Online Library, select the down-arrow option within the Subject Guides Icon; then select the Business Option, then conduct a Search for the following article: “WRI: Obama Administration Has Tools to Meet Ambitious Greenhouse Gas Emissions Targets.” Read the brief Abstract and Full Text in this World Resources Institute (WRI) article, and emphasize the importance of the following statements within the article:
By the WRI’s account, under a business-as-usual scenario, the Obama administration’s commitment is in jeopardy. The group contended that the power sector’s recent greenhouse gas emission reductions, stemming from a sluggish economy and a shift to natural gas, are not projected to continue in the future.
As for what approach that the EPA takes in regulating existing power plants, the WRI underscored that the Clean Air Act affords the agency and states wide latitude, and permits the use of energy efficiency standards, renewable energy, as well as demand-response, fuel-switching and trading programs.
The WRI asserted that the costs of such regulations will be manageable, an assessment at odds with industry groups that suggest the programs could seriously undermine economic growth at a time when the nation can least afford it.
“It’s clear that the longer the U.S. waits, the harder — and more expensive — it will be. The administration has the tools. We look forward to seeing what steps they take to shift the country to a low-carbon pathway,” Steer said in a statement.
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