Tradable cumulative CO{sub 2} permits and global warming control

Journal Article · Sat Dec 31 04:00:00 EST 1994 · Energy Journal

OSTI ID:244222

Kosobud, R F ^[1]; Daly, T A; South, D W ^[2]

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1. Univ. of Illinois, Chicago, IL (United States)
2. Argonne National Lab., IL (United States); and others

As an alternative to current global warming policy proposals to freeze greenhouse gas {open_quotes}emissions{close_quotes} at their 1990 levels by the year 2000, this study examines the implications of a long-run objective of stabilizing greenhouse gas {open_quotes}concentrations{close_quotes} at low to moderate risk levels by the year 2100. The current proposals to control emissions slow but do not end the build-up of concentrations, and they could imply costly short-term adjustments of the energy industries. Our objective is to explore an alternative policy that could (1) stabilize induced climate change, (2) provide for the creation of international {open_quotes}property rights{close_quotes} in the stratosphere by means of tradable emission permits, and (3) be more intertemporally cost-effective. Our method for analyzing this effort is a tested, dynamic, price sensitive, global economic model to which is linked a climate change submodel. Together these models enable us to project price and quantity time paths of energy, climate, and tradable permit variables under alternative policy actions. 15 refs., 3 figs.

• OSTI ID: 244222
• Journal Information: Energy Journal, Journal Name: Energy Journal Journal Issue: 2 Vol. 15; ISSN ENJODN; ISSN 0195-6574
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
CARBON DIOXIDE
CONTROL
GREENHOUSE GASES
LICENSES
TRADE