The Capital Letter: Regulators, Electric Vehicles & More

(Brian Snyder/Reuters)The week of March 1: the march of the regulators, electric vehicles, policing the menu and much, much more.] The idea that climate change represents a material risk to the financial system at any time in the reasonably near future is laughable. Hurricanes and floods, though influenced by climate change, are well modeled for the next five to ten years. The main risk to fossil fuel companies is that regulators will destroy them, as the ECB proposes to do, a risk regulators themselves control. Those numbers are in the ballpark of a single year’s total federal tax collections — so it’s a nontrivial boost to revenue.