Wayne Winegarden’s findings on the effects that recent climate change litigation is having on innovation was featured in Nathan Worcester’s piece, “Big Cities’ Climate Lawsuits Against Big Oil Scrutinized” in the Epoch Times:
A recent wave of government climate change lawsuits against oil and gas firms may prove deeply harmful, actually inhibiting the growth of new, greener technologies by diverting resources that would otherwise fuel innovation, according to a May 16 issue brief from the Pacific Research Institute (PRI).
“There are many serious adverse consequences from state and local litigation against traditional energy companies, but no societal upsides should the plaintiffs in these cases prevail,” economist Wayne Winegarden asserted in the brief.
“Global climate change policies should solely focus on creating positive incentives for innovation,” he argued.
“The court cases filed by the municipalities worsen the market environment and are, consequently, an obstruction to the development of these next-generation technologies.”