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The Costs of Reducing U.S. CO2 Emissions - Further Sensitivity Analyses

Alan S. Mann and Richard G. Richels

Year: 1990
Volume: Volume 11
Number: Number 4
DOI: 10.5547/ISSN0195-6574-EJ-Vol11-No4-4
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Abstract:
In a previous paper, we used the Global 2100 model to explore the implications of a carbon constraint upon domestic energy costs and the resulting effects on the U.S. economy as a whole (Manne and Richels (1990). The impact of a CO2 limit will depend on the technologies and resources available for meeting demands as well as on the demands themselves. Given the enormous uncertainty surrounding these factors, losses were calculated under alternative assumptions about each.



Global CO2 Emission Reductions - the Impacts of Rising Energy Costs

Alan S. Manne and Richard G. Richels

Year: 1991
Volume: Volume 12
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol12-No1-6
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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.



The Greenhouse Effect: A View From Europe

David Pearce and Edward Barbier

Year: 1991
Volume: Volume 12
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol12-No1-9
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Abstract:
Various countries in Europe are considering tax schemes to combat the threat of global warming and Europeans have shown their concern by their growing support of the various Green parties. Unfortunately, policy-oriented research on climate warming lags behind North America and governments still seem to display a "wait and see" philosophy. Europe expects a leading role in any global climate convention and, because of its trade links and the uniqueness of the British Commonwealth, has a special role in regard to developing countries. These links are especially important since domestic policies must be coordinated and combined with international agreements in order to be effective.



Limits on the Economic Effectiveness of a Carbon Tax

Robert K Kaufmann

Year: 1991
Volume: Volume 12
Number: Number 4
DOI: 10.5547/ISSN0195-6574-EJ-Vol12-No4-9
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Abstract:
Much of the discussion regarding policies to reduce the emission of carbon dioxide (CO2) and other greenhouse gases focuses on least-cost strategies. Policies that minimize costs are desirable because they are economically more efficient than policies that are based on a command and control strategy (Gasloms and Stram, 1990). Among the many least-cost policies now under consideration, a carbon tax has received the most attention. As currently envisioned, a carbon tax would be levied on users of fossil fuels according to the amount of carbon that is emitted when the fuel is burned. Because the combustion of coal emits more CO2 per heat unit than oil, which emits more CO2 per heat unit than natural gas, the tax on coal would be larger than the tax on oil, which would be larger than the tax on natural gas.The fuel specific charges that would be imposed by a carbon tax are a popular policy option because many believe that a carbon tax will reduce emissions of carbon dioxide in an economically efficient manner. That is, a carbon tax will reduce the use of fossil fuels by spurring technical change and by inducing the substitution of capital, labour, and non-energy materials. Furthermore, a carbon tax will reduce emissions of CO2 by inducing substitution of fuels that emit less CO2 per heat unit. The reduction in emissions that is achieved by interfuel substitution is caused by the differences in the size of the tax on coal, oil, and natural gas. Because the tax on coal is largest, the price of coal will rise relative to oil and natural gas and users will substitute oil or natural gas for coal.



Analysis of Unilateral CO2 Control in the European Community and OECD

John Pezzey

Year: 1992
Volume: Volume 13
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol13-No3-8
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Abstract:
Whalley and Wigle (1991b) use a static, six-region, perfect competition, general equilibrium model to explore various global carbon tax policies designed to cut CO2 emissions. Their program is used here to model unilateral carbon taxes applied by large regions such as the EC or the OECD. Sample model results suggest that a 20% unilateral cut in EC carbon-based energy consumption achieves a 0.7% cut in world consumption in equilibrium; the ECs production of energy-intensive goods falls by 8.3%; but EC welfare is hardly changed, thanks to a shift in consumption towards nonenergy-intensive goods and to cheaper carbon-based energy imports. Unilateral action, even by large economies, therefore seems to be environmentally ineffective but economically neutral overall. However, international leadership effects or induced technical progress might change these conclusions. Also, Perroni and Rutherford (1991) find less extreme results for similar policies, probably because they model world energy markets very differently.



Who Pays Broad-Based Energy Taxes? Computing Lifetime and Regional Incidence

Nicholas Bull, Kevin A. Hassett, and Gilbert E. Metcalf

Year: 1994
Volume: Volume15
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol15-No3-8
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Abstract:
This paper measures the incidence of energy taxes using a lifetime framework to study both a Btu tax and a carbon tax. It takes into account two key facts. First, because energy taxes have different incidence effects across the life cycle, it is important to measure the burden of taxes in terms of lifetime incidence, not just their burden in a given year. To take account of lifetime incidence, we introduce an estimation methodology for lifetime-correction as well as showing current consumption measures. Second, energy taxes have a total effect that combines both direct and indirect effects: in addition to directly increasing the price of energy goods, energy taxes also indirectly increase the price of all other goods in proportion to the energy used to produce them. We provide incidence estimates by income group and by geographical region.



Incomplete International Climate Agreements: Optimal Carbon Taxes, Market Failures and Welfare Effects

Rolf Golombek and Jan Braten

Year: 1994
Volume: Volume15
Number: Number 4
DOI: 10.5547/ISSN0195-6574-EJ-Vol15-No4-7
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Abstract:
This paper provides an empirical study of optimal carbon taxes and welfare effects under incomplete international climate agreements when there are market failures in the cooperating countries. The objective of the group of countries taking part in the international climate agreement is to design carbon taxes that maximize their aggregate net income, subject to a constraint on global CO2 emissions. We use a numerical energy model to study scenarios that differ with respect to types of CO2 taxes and countries taking part in the climate agreement. We also discuss the impact on regional net income following from different international climate agreements.



Greenhouse Gas Emission Reduction: A Case Study of Sri Lanka

Peter Meier and Mohan Munasinghe

Year: 1995
Volume: Volume16
Number: Number 4
DOI: 10.5547/ISSN0195-6574-EJ-Vol16-No4-4
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Abstract:
In this paper we describe a case study for Sri Lanka that explores a wide range of options for reducing greenhouse gas (GHG) emissions. Options range from renewable technologies to carbon taxes and transportation sector initiatives. We find that setting electricity prices to reflect long-run marginal cost has a significant beneficial impact on the environment, and the expected benefits predicted on theoretical grounds are confirmed by the empirical results. Pricing reform also has a much broader impact than physical approaches to demand side management, although several options such as compact fluorescent lighting appear to have great potential. Options to reduce GHG emissions are limited as Sri Lanka lacks natural gas, and nuclear power is not practical until the system reaches a much larger size. Building the few remaining large hydro facilities would significantly reduce GHG emissions, but these would require costly resettlement programs. Given the inevitability for fossil-fuel baseload generation, both clean coal technologies such as pressurized fluidized bed combustion, as well as steam-cycle residual oil fueled plants merit consideration as alternatives to the conventional pulverized coal-fired plants currently being considered Transportation sector measures necessary to ameliorate local urban air pollution problems, such as vehicle inspection and maintenance programs, also bring about significant reductions of GHG emissions.



CO2 Emission Reduction Costs in the Residential Sector: Behavioral Parameters in a Bottom-Up Simulation Model

Mark Jaccard, Alison Bailie and John Nyboer

Year: 1996
Volume: Volume17
Number: Number 4
DOI: 10.5547/ISSN0195-6574-EJ-Vol17-No4-5
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Abstract:
Cost estimates for reducing energy-related CO2 emissions vary with modeling assumptions and methods. Much debate has centered on the tendency for top-down models to suggest high costs and for bottom-up models to suggest low costs. This study incorporates behavioral parameters, derived from end-use equipment acquisition surveys, in a bottom-up simulation model ofthe residential sector in order to probe the basis for differing cost estimates and to test various policy suggestions. Simulating the effect of carbon taxes on a business as usual forecast, the results suggest that a CO2 tax will lead to significant net costs of adjustment if the factors leading to higher private discount rates reflect in part real costs and risks. The results also suggest that it may be in society's interest to pursue fuel switching policies with equal or greater vigour than energy efficiency improvements for the goal of reducing CO2emissions in the residential sector. As further research helps to distinguish the significance of these perceived costs and risks, and to refine projections of technology costs, the inputs to the model can be adjusted in order to refine the estimates for policy makers of CO2 reduction costs and of appropriate strategies for achieving reduction goals.



Market Power, International CO2 Taxation and Oil Wealth

Elin Berg, Snorre Kverndokk and Knut Einar Rosendahl

Year: 1997
Volume: Volume18
Number: Number 4
DOI: 10.5547/ISSN0195-6574-EJ-Vol18-No4-2
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Abstract:
We present an intertemporal equilibrium model for fossil fuels, and study the effects on oil prices, extraction paths and oil wealth of an international carbon tax on fossil fuel consumption Our conclusion is that a carbon tax will hurt OPEC more than other producers, as the cartel is induced by its market power to restrain production in order to maintain the oil price. Thus, the effects on the oil wealth of the competitive fringe are minor, while OPECs wealth is considerably reduced. We also show by applying a competitive model that this result is due to market structure, and not to differences in the resource base.




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