Report from @rhodium_group: even without a fee on methane emissions, Clean Electricity Performance Program (CEPP), repeal of fossil fuel subsidies, or a carbon tax, the US can meet its climate objectives with rest of 2 packages and aggressive regulation. rhg.com/research/us-cl…
But it will require every branch and level of government to go big, if we are to eliminate the equivalent of a range of four Californias to three Texases by 2030.
The authors do not mince words: "Closing the emissions gap will be one of the most challenging things the US has ever attempted."
Report assumes that these policies stay in the bipartisan and Build Back Better bills.
Report also assumes that authorities from the New Deal's Commodities Credit Corporation, to Nixon's Clean Air Act, to Ford's Energy Policy and Conservation Act, are used to the hilt.
The report notes the legal risks involved in the enterprise.
US states are also going to have to play a major role.
Finally, the report notes some additional novel steps that could be taken under procurement laws, the Clean Air Act's rules around US international commitments, and more.
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How Industrial Policy Gets Done: Frontline Lessons from Three Federal Officials
I interviewed @katenrg @RonnieChatterji & Satyam Khanna about their time helping set up the offices that are building middle-out economics.
🧵 rooseveltinstitute.org/publications/h…
For arguably the first time since the Roosevelt administration, there's an acknowledged and massive effort to influence the composition and practices of industries operating in the US.
Trillions in public and private capital are moving into communities all over the 🇺🇸.
These industrial policy efforts are not falling from the sky: they're being driven by real people, trying to solve problems in real time.
In this brief, we were interested in one group of said people: the advisors in federal agencies like @ENERGY @EPA & @CommerceGov.
In an election year where both political parties have deployed tariffs as a tool of statecraft, @DemJournal asked @ENPancotti @mattyglesias and me to debate the pros and cons, when tariffs work, and when they are damaging.
🧵 democracyjournal.org/magazine/74/ar…
Liz and I were assigned the "pro-tariff" side of the debate, though we offer caveats.
Our main argument is that it's too easy to put tariffs in a politics/public choice box, when in fact there are long established market failure reasons for their use.
Moreover, having taking the fork in the road towards industrial policy subsidies to internalize positive externalities from decarbonization, it would have been unwise policy/an abdication of fiduciary responsibility to allow imports to wipe out new clean industries.
This is the result of a 4 year review since the beginning of the Biden administration, which has been evaluating whether various Chinese policies comport with US trade laws.
Fantastic panel @HarvardMWC on lessons we can learn from global experiences with industrial policy, with @rodrikdani @straightedge @myrto_kaloup and @rohlamba.
Myrto talking Chinese shipbuilding excess capacity. Has 50-70% market share today.
@Rohan_Sandhu Myrto says Chinese shipbuilding not efficient when taken on their own, but had clear benefits in terms of outward exports / lowering transportation costs / enhancing military capacity. nber.org/papers/w26075
NEW from me @RooseveltFwd: How Biden's comments on US Steel's tie up with Japan's Nippon company indicate what a Foreign Policy for the Middle Class might look like in practice. rooseveltforward.org/2024/04/03/bid…
The idea of reorienting foreign economic policy to build labor power and combat inequality was articulated by @JakeSullivan46 @jennifermharris and others in a series of essays and reports in 2019-20. foreignpolicy.com/2020/02/07/ame…
This doesn't mean that traditional diplomacy has to die out. Indeed, as @dimi and @KanaInagaki report, even after Biden's comments, the US and Japan are slated to make the biggest upgrade to their alliance in 60 years. ft.com/content/df9999…
BREAKING from @AP: @Energy agency announces $6 billion to slash emissions in industrial facilities.
@JenMcDermottAP @anniesartor @SecGranholm @alizaidi46 and me on why this is game changing, and could allow the US to catch up/ lead on industrial decarb. apnews.com/article/climat…
The mix of projects funded here is exciting, including a range of technologies to be deployed by US leader @CLE_CLF, and even projects by Sweden's SSAB. energy.gov/oced/industria…