Yesterday, Jess noted a new paper in the American Economic Review: “Environmental Accounting for Pollution in the United States Economy.” Brad Johnson has a longer summary here. I want to emphasize the paper’s conclusions and make a few related points. But mostly I want to beg everyone: spread this around. Coal’s net economic effects on the U.S. are poorly understood, to say the least, and this paper’s findings are stunning.
Once you strip away the econ jargon, the paper finds that electricity from coal imposes more damages on the U.S. economy than the electricity is worth. That’s right: Coal-fired power is a net value-subtracting industry. A parasite, you might say. A gigantic, blood-sucking parasite that’s enriching a few executives and shareholders at the public’s expense. #read the story