New York Eases Greenhouse Gases Accounting

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According to the Washington Post, New York Gov. Kathy Hochul (D) is backing a proposal to change the state’s method of accounting for greenhouse gas emissions, after state modeling estimated significant cost increases for buying gas and heating homes.

Questions:

  1. When did the law originally pass?
  2. The change is from a ___ year metric to a ____ year metric.
  3. Which metric do you think is best and why? Discuss.
  4. What other state is currently following the same metric as New York?
  5. What are cap-and-invest programs?
  6. According to modeling of the current law, it would cost New Yorkers ___ percent more to buy a gallon of gas and ___ percent more to heat their homes when the cap-and-invest program takes effect.

Source:

Joselow, M. and V. Montalbanos (2023). New York, citing consumer costs, may ease its greenhouse gas accounting rules. The Washington Post, April 4 (Retrievable at https://www.washingtonpost.com/politics/2023/04/04/new-york-citing-consumer-costs-may-ease-its-greenhouse-gas-accounting-rules)