Lauren Gravitz describes an unconventional solution to combat climate change, encouraging "countries with means" to "buy up coal, oil, and other deposits while they’re still in the ground--then leave them there."
Bard Harstad, an economist at Northwestern University, thinks that current programs aimed at combating climate change by forcing decreases in consumption are exactly the wrong way to solve the problem. According to Harstad, "The problem is that when some countries decrease their use of fossil fuels, the decreased demand leads to decreased prices. And cheaper fuel means that non-climate coalition countries--which are then buying dirty fuel at lower cost--have no incentive to invest in alternative energy technologies like solar and wind. As a result, their carbon emissions actually increase, a problem known in the field as carbon leakage."
This solution isn't as off-the-wall as it may initially seem. A similar model has been employed to good effect for protecting tropical rain forests. "The World Bank, together with the United Nations, created their REDD program--Reducing Emissions from Deforestation and Forest Degradation--which, by offering money and other incentives to developing countries in return for the preservation of their forests, created a financial value for the carbon contained in the forested land."
Harstad believes that retaining the value of carbon fuels but keeping them contained underground is a cost effective route [PDF] to combating climate change, and one worth taking.
FULL STORY: To Combat Climate Change, Buy More Coal
Pennsylvania Mall Conversion Bill Passes House
If passed, the bill would promote the adaptive reuse of defunct commercial buildings.
Coming Soon to Ohio: The Largest Agrivoltaic Farm in the US
The ambitious 6,000-acre project will combine an 800-watt solar farm with crop and livestock production.
World's Largest Wildlife Overpass In the Works in Los Angeles County
Caltrans will soon close half of the 101 Freeway in order to continue construction of the Wallis Annenberg Wildlife Crossing near Agoura Hills in Los Angeles County.
California Grid Runs on 100% Renewable Energy for Over 9 Hours
The state’s energy grid was entirely powered by clean energy for some portion of the day on 37 out of the last 45 days.
New Forecasting Tool Aims to Reduce Heat-Related Deaths
Two federal agencies launched a new, easy-to-use, color-coded heat warning system that combines meteorological and medical risk factors.
AI Traffic Management Comes to Dallas-Fort Worth
Several Texas cities are using an AI-powered platform called NoTraffic to help manage traffic signals to increase safety and improve traffic flow.
City of Costa Mesa
Licking County
Barrett Planning Group LLC
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
Tufts University, Department of Urban and Environmental Policy & Planning
City of Universal City TX
ULI Northwest Arkansas
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