This is one heck of an oops…
New Jersey Monitor (2/3/22) reports: "Opponents of electrification benchmarks in Gov. Phil Murphy’s plan to cut greenhouse gas emissions redoubled their criticism this week after the state revealed it understated the cost difference between electric and gas boilers. The Department of Environmental Protection, which is mulling new regulations for boiler permits, said in a rule proposal unveiled in December that electric boilers would cost between 4.2% and 4.9% more to operate than their gas counterparts. But a correction issued by the agency Tuesday said running electric boilers would cost between 4.2 and 4.9 times more than their fossil fuel equivalents. To Eric DeGesero, executive vice president of the Fuel Merchants Association of New Jersey, the correction was another sign Murphy is ignoring the costs of a transition away from fossil fuel heating. 'He’s shone those bright lights on everything, but he’s never once — whether it’s the $20,000 to convert my house or the astronomical cost that landlords and tenants and commercial building owners are going to have to bear — he’s never once highlighted the electrification of the building sector,' DeGesero said. 'It’s like the dirty little secret he doesn’t want to tell anyone about.'"
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"It has become an article of faith among climate activists that it is not enough for ethical investors to voluntarily divest themselves from hydrocarbon holdings. Governments and central banks must intervene in capital markets to eventually drive such companies out of business. This strategy is not new—previous generations of activists sought to restrict capital to firms that produce military hardware, nuclear power, cigarettes, firearms, and other politically disfavored products. But never before has government policy so forcefully been part of the plan."
– Richard Morrison,
Competetive Enterprise Institute
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