Download or read book Assessment of United States Greenhouse Gas Cap and trade Proposals written by Sergey Vladimirovich Paltsev and published by . This book was released on 2008 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2007 the US Congress began considering a set of bills to implement a cap-and-trade system to limit the nation's greenhouse gas (GHG) emissions. The MIT Integrated Global System Model (IGSM) - and its economic component, the Emissions Prediction and Policy Analysis (EPPA) model - were used to assess these proposals. In the absence of policy, the EPPA model projects a doubling of US greenhouse gas emissions by 2050. Global emissions, driven by growth in developing countries, are projected to increase even more. Unrestrained, these emissions would lead to an increase in global CO2 concentration from a current level of 380 ppmv to about 550 ppmv by 2050 and to near 900 ppmv by 2100, resulting in a year 2100 global temperature 3.5-4.5°C above the current level. The more ambitious of the Congressional proposals could limit this increase to around 2°C, but only if other nations, including developing countries, also strongly controlled greenhouse gas emissions. With these more aggressive reductions, the economic cost measured in terms of changes in total welfare in the United States could range from 1.5% to almost 2% by the 2040-2050 period, with 2015 CO2-equivalent prices between $30 and $55, rising to between $120 and $210 by 2050. This level of cost would not seriously affect US GDP growth but would imply large-scale changes in its energy system.
Download or read book Legislative Proposals to Reduce Greenhouse Gas Emissions written by United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Energy and Air Quality and published by . This book was released on 2008 with total page 492 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines "H.R. 1590, the Safe Climate Act of 2007 ... H.R. 6186, the Investing in Climate Action and Protection Act ... S. 2191, America's Climate Security Act of 2008 ... Senate amendment 4825, introduced by Senator Boxer as a substitute during Floor consideration of the Lieberman-Warner measure; and S. 1766, the Low Carbon Economy Act of 2007."--P. 2.
Download or read book Analysis of United States Greenhouse Gas Cap and trade Proposals Using a Forward looking Economic Model written by Angelo Gurgel and published by . This book was released on 2011 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: We develop a forward-looking version of the recursive dynamic MIT Emissions Prediction and Policy Analysis (EPPA) model, and apply it to examine the economic implications of proposals in the US Congress to limit greenhouse gas (GHG) emissions. We find that shocks in the consumption path are smoothed out in the forward-looking model and that the lifetime welfare cost of GHG policy is lower than in the recursive model, since the forward-looking model can fully optimize over time. The forward-looking model allows us to explore issues for which it is uniquely well suited, including revenue-recycling and early action crediting. We find capital tax recycling to be more welfare-cost reducing than labor tax recycling because of its long-term effect on economic growth. Also, there are substantial incentives for early action credits; however, when spread over the full horizon of the policy they do not have a substantial effect on lifetime welfare costs.
Download or read book Climate Change Trade Measures Considerations for U S Policy Makers written by Loren Yager and published by DIANE Publishing. This book was released on 2010-02 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global climate change is one of the most significant long-term policy challenges facing the U.S., and policies to mitigate climate change will have important economic, social, and environmental implications. This report examines the potential effects of greenhouse gas emissions pricing on U.S. industries¿ internat. competitiveness and trade measures being considered as part of U.S. legislative proposals to address climate change. It examines: (1) what is known about estimating industry effects; (2) examples of industries that may be vulnerable to a loss in internat. competitiveness from emissions pricing; (3) trade measures and other approaches to address competitiveness issues; and (4) potential internat. implications of trade measures.
Download or read book Analysis of U S Greenhouse Gas Tax Proposals written by Gilbert E. Metcalf and published by . This book was released on 2013 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. Congress is considering a set of bills designed to limit the nation's greenhouse gas (GHG) emissions. This paper complements the analysis by Paltsev et al. (2007) of cap-and-trade bills and applies the MIT Emissions Prediction and Policy Analysis (EPPA) model to carry out an analysis of the tax proposals. Several lessons emerge from this analysis. First, a low starting tax rate combined with a low rate of growth in the tax rate will not reduce emissions significantly. Second, the costs of GHG reductions are reduced with the inclusion of non-CO2 gases in the carbon tax scheme. Third, welfare costs of the policies can be affected by the rate of growth of the tax, even after controlling for cumulative emissions. Fourth, a carbon tax -- like any form of carbon pricing -- is regressive. However, general equilibrium considerations suggest that the short-run measured regressivity may be overstated. Additionally, the regressivity can be offset with a carefully designed rebate of some or all of the revenue. Finally, the carbon tax bills that have been proposed or submitted are for the most part comparable to many of the carbon cap-and-trade proposals that have been suggested. Thus the choice between a carbon tax and cap-and-trade system can be made on the basis of considerations other than their effectiveness at reducing emissions over some control period.
Download or read book Policy Options for Reducing Greenhouse Gas Emissions written by United States. Congress. Senate. Committee on Energy and Natural Resources and published by . This book was released on 2010 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book International Aspects of a Carbon Cap and Trade Program written by United States. Congress. Senate. Committee on Finance and published by . This book was released on 2008 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Addressing Price Volatility in Climate Change Legislation written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 2009 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book EIA Analysis of Draft Climate Change Legislation written by United States. Congress. Senate. Committee on Energy and Natural Resources and published by . This book was released on 2007 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book An Evaluation of Cap and trade Programs for Reducing U S Carbon Emissions written by and published by . This book was released on 2001 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Congressional Budget Office (CBO) study, written by Terry Dinan--prepared at the request of the Senate Committee on Environment and Public Works--examines four proposals. All are variants of a "cap-and-trade" program, in which policymakers would set a mandatory cap on carbon emissions and allow businesses to trade rights (or allowances) to those emissions.
Download or read book Policy Options to Prevent Climate Change written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 2011 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Climate Change written by Office, U.s. Government Accountability and published by . This book was released on 2017-08-16 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Congress is considering proposals for market-based programs to limit greenhouse gas emissions. Many proposals involve creating a cap-and-trade program, in which an overall emissions cap is set and entities covered by the program must hold tradable permits-or "allowances"- to cover their emissions. According to the Congressional Budget Office (CBO), the value of these allowances could total $300 billion annually by 2020. The government could either sell the allowances, give them away for free, or some combination of the two.Some existing cap-and-trade programs have experience selling allowances. For example, member states participating in the European Union's (EU) Emissions Trading Scheme (ETS) have sold up to about 9 percent of their allowances, and the amount of auctioning is expected to increase significantly starting in 2013. In the United States, the 10 northeastern states participating in the Regional Greenhouse Gas Initiative (RGGI) have auctioned about 87 percent of their allowances.This report is part of GAO's response to a request to review climate change policy options. This report describes the implications of different methods for selling allowances, given available information and the experiences of selected programs..."
Download or read book Administration Proposals on Climate Change and Energy Independence written by United States. Congress. House. Committee on Transportation and Infrastructure and published by . This book was released on 2007 with total page 540 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Carbon Taxes in the United States written by Janet E. Milne and published by . This book was released on 2013 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the United States considers its climate change policies, a fundamental question is whether it will choose to use tax increases or a cap-and-trade system to reduce greenhouse gas emissions. This article provides background and context for considering the use of carbon taxes at the federal level. After introducing the concept of energy taxes and their design alternatives, it reviews President Clinton's attempt to enact a broad-based energy tax in 1993 and the implications of that experience for today's debate over carbon taxes and permit trading. It then sets carbon taxes in the context of cap-and-trade proposals and programs in the United States, highlighting analytical issues that are key when comparing tax and trading regimes. It concludes by suggesting that policymakers should not dismiss the possibility of using taxes to reduce greenhouse gas emission despite the political volatility of tax proposals. If held to the same analytical standards, taxes and cap-and-trade regimes bear many similarities and involve some of the same politically difficult choices.
Download or read book Climate Change written by United States. Congress. Senate. Committee on Energy and Natural Resources and published by . This book was released on 2005 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Emissions Trading to Reduce Greenhouse Gas Emissions in the United States written by Sergey Vladimirovich Paltsev and published by . This book was released on 2003 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Climate Stewardship Act of 2003 (S. 139) is the most detailed effort to date to design an economy-wide cap-and-trade system for US greenhouse gas emissions reductions. The Act caps sectors at their 2000 emissions in Phase I of the program, running from 2010 to 2015, and then to their 1990 emissions in Phase II starting 2016. There is a strong incentive for banking of allowances, raising the costs in Phase I to achieve savings in Phase II. Use of credits from outside the capped sectors could significantly reduce the cost of the program, even though limited to 15% and 10% of Phase I and II allowances respectively. These credits may come from CO2 sequestration in soils and forests, reductions in emissions from uncapped sectors, allowances acquired from foreign emissions trading systems, and from a special incentive program for automobile manufacturers. The 15% and 10% limits increase the incentive for banking and could prevent full use of cost-effective reductions from the uncapped sectors. Moreover, some of the potential credits might contribute little or no real climate benefit, particularly if care is not taken in defining those from forest and soil CO2 sequestration. Analysis using the MIT Emissions Prediction and Policy Analysis model shows that costs over the two Phases of the program could vary substantially, depending on normal uncertainty in economic and emissions growth, and the details of credit system implementation.
Download or read book Strengths and Weaknesses of Regulating Greenhouse Gas Emissions Using Existing Clean Air Act Authorities written by United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Energy and Air Quality and published by . This book was released on 2008 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt:
