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Global CO2 Emission Reductions - the Impacts of Rising Energy Costs

Abstract:
In this paper, we explore how the costs of a CO2 limit are likely to vary among regions. The analysis is based on Global 2100: an analytical framework for estimating the economy-wide impacts of rising energy costs. We investigate how emissions are likely to evolve in the absence of a carbon limit, and how the regional pattern is likely to shift during the nest century. We then examine alternative strategies to limit global emissions, calculate the impacts of higher energy costs upon conventionally measured GDP, and indicate the size of the carbon tax that would be required to induce individual consumers to reduce their dependence on carbon-intensive fuels.

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Energy Specializations: Energy and the Environment – Climate Change and Greenhouse Gases

JEL Codes:
Q54 - Climate; Natural Disasters and Their Management; Global Warming

Keywords: CO2 emisson reduction, Energy costs, Global 2100 model, Carbon tax

DOI: 10.5547/ISSN0195-6574-EJ-Vol12-No1-6


Published in Volume 12, Number 1 of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.