Download or read book Updating the allocation of greenhouse gas emissions permits in a federal cap and trade program written by Meredith Fowlie and published by . This book was released on 2010 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: U.S. adoption of a cap-and-trade program for greenhouse gases could place some domestic producers at a disadvantage relative to international competitors who do not face similar regulation. To address this issue, proposed federal climate change legislation includes a provision that would freely allocate (or rebate) emission allowances to eligible sectors using a continuously updating output-based formula. Eligibility for the rebates would be determined at the industry-level based on emissions or energy intensity and a measure of import penetration. Dynamic updating of permit allocations has the potential to mitigate adverse competitiveness impacts and emissions leakage in eligible industries. It can also undermine the cost-effectiveness of permit market outcomes, as more of the mandated emissions reductions must then be achieved by sources deemed ineligible for rebates. This chapter investigates both the benefits and the costs of output-based updating. It identifies differences between proposed eligibility criteria and those consistent with standard measures of economic efficiency. The analysis underlines the importance of taking both benefits and costs into account when determining the scale and scope of output-based rebating provisions in cap-and-trade programs.
Download or read book Updating the Allocation of Greeenhouse Gas Emissions Permits in a Federal Gap and trade Program written by Meredith Fowlie and published by . This book was released on 2010 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Allocation Allowances of Greenhouse Gas Emission written by United States. Congress. Senate. Committee on Energy and Natural Resources and published by . This book was released on 2009 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Climate Change Policy Preliminary Observations on Options for Distributing Emissions Allowances and Revenue Under a Cap and Trade Program written by John Stephenson and published by DIANE Publishing. This book was released on 2011 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a print on demand edition of a hard to find publication. Congress is considering proposals to establish a price on greenhouse gas emissions through a cap-and-trade program that would limit overall emissions and require covered entities to hold tradable emissions permits, or allowances, for their emissions. This program would raise the cost of activities that produce emissions and provide an economic incentive to decrease emissions. A cap-and-trade program would increase the cost of burning fossil fuels and other activities that generate emissions and potentially raise costs for consumers. A key decision is the extent to which the gov¿t. offsets these costs. This testimony assesses the potential effects of: (1) allowance allocation methods; and (2) options for distributing program revenues. Illus.
Download or read book The Greenhouse Gas Protocol written by and published by World Business Pub.. This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The GHG Protocol Corporate Accounting and Reporting Standard helps companies and other organizations to identify, calculate, and report GHG emissions. It is designed to set the standard for accurate, complete, consistent, relevant and transparent accounting and reporting of GHG emissions.
Download or read book Cap and Trade The Kyoto Protocol Greenhouse Gas GHG Emissions Carbon Tax Emission Allowances Acid Rain SO2 Program Ozone Transport Commission NOX Carbon Markets and Climate Change written by Jonathan L. Ramseur and published by The Capitol Net Inc. This book was released on with total page 567 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Design and Implementation of US Climate Policy written by Don Fullerton and published by University of Chicago Press. This book was released on 2012-09-27 with total page 345 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book contains the proceedings of an NBER conference held in Washington, DC, on May 13-14, 2010"--Page xi.
Download or read book Greenhouse Gas Trading Program written by United States. Congress. Senate. Committee on Energy and Natural Resources and published by . This book was released on 2010 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Climate Change written by John B. Stephenson and published by DIANE Publishing. This book was released on 2010-08 with total page 41 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. The value of these allowances could total $300 billion annually by 2020. The Federal 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. This report describes the implications of different methods for selling allowances, given available information and the experiences of selected programs.
Download or read book Allowance Allocation Policies in Climate Legislation written by United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Energy and Environment and published by . This book was released on 2012 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Climate Change written by Larry Parker and published by DIANE Publishing. This book was released on 2011 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a print on demand edition of a hard to find publication. Facets of the cost issue that have raised concern regarding a greenhouse gas reduction program include absolute costs to the economy, dist. of costs across industries, competitive impact domestically and internationally, incentives for new technol., and uncertainty about costs. Contents of this report: (1) Intro.: Price Versus Quantity Debate; (2) Five Dimensions of the Cost Issue; (3) Addressing Cost Concerns: Tonnage Options; Expand Supply Options; Carbon Tax: Economic-Based Circuit Breaker; Technol.-Based Timetable: Banking and Borrowing; Auctioning Permits; Safety Valve; (4) Illustrative Approaches; (5) Resolving the Price-Quantity Issue; (6) Selected Options to Address Cost Uncertainty of Greenhouse Gas Reduction Programs. Charts and tables.
Download or read book Should Greenhouse Gas Permits be Allocated on a Per Capita Basis written by and published by . This book was released on 2008 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many people believe that the problem of climate change would be best handled by an international agreement that includes a system of cap and trade. Such a system would impose a global cap on greenhouse gases emissions and allocate tradable emissions permits. This proposal raises a crucial but insufficiently explored question: How should such permits be allocated? It is tempting to suggest that in principle, allocation should be done on a per capita basis, with the idea that each person should begin with the same entitlement, regardless of place of birth. This idea, pressed by many analysts and by the developing world, can be defended on grounds of either welfare or fairness. But on both grounds, per capita allocations run into serious objections. If fairness is understood in terms of equally or proportionally sharing the burdens of a climate treaty, per capita allocations are not fair because they do not take into account all the effects of such a treaty. Any agreement to reduce greenhouse gas emissions will give more benefits to some nations than to others, and will impose more costs on some nations than on others; in these circumstances, per capita emissions rights give the appearance but not the reality of fairness. For those who seek redistribution to those who need help, on grounds of either welfare or fairness, per capita allocations of emissions rights are at best a mixed blessing. Some rich nations are highly populated, and some poor nations have small populations; there is essentially no relationship between size of population and per capita wealth. Per capita allocations would also create serious incentive problems, and they would face decisive objections from the standpoint of feasibility: Per capita rights would transfer hundreds of billions of dollars annually from the United States to China and India, and the United States is most unlikely to sign a treaty with that consequence. Comparisons are drawn between per capita allocations and other approaches, including those based on existing emissions rates and those with self-conscious redistributive aims. A general goal is to balance welfarist and fairness goals with feasibility constraints; per capita allocations do a poor job of achieving that balance, and an insistence on that approach might make the climate change problem intractable. These conclusions have general implications for thinking about normative goals and practical limitations in the context of international law.
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 The Taxation of Emissions Permits Distributed for Free as Part of a Carbon Cap and Trade Program written by Lucas, Jr. (Gary) and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Obama administration has proposed a cap-and-trade program to regulate carbon emissions. If the program is adopted, the government will cap carbon emissions at a specified level and require certain firms to surrender emissions permits to cover their emissions. The permits will have significant value, and firms will be able to buy and sell them on a secondary market. The government could raise substantial revenue by auctioning permits, but it seems likely that Congress will instead give away a large share of permits to industries affected by the program. An important unresolved issue is whether the receipt of carbon permits will trigger federal income tax. One possibility is that the government will follow the rule that currently applies to sulfur dioxide permits created as part of the acid rain cap-and-trade program. Under IRS guidance, firms receiving sulfur dioxide permits can exclude them from income. Because of this exclusion, a firm that holds its permits for use or sale in a future year can defer paying tax, a benefit similar to receiving an interest-free loan from the government. This article argues that the government should not extend this benefit to firms receiving carbon permits. Instead, carbon permits should be taxed when received. The permits will be valuable assets, and in many cases, giving them to firms will benefit shareholders. Additionally, giving permits away is similar to making a cash grant to recipient firms. If a grant is bad policy, then taxing the grant may be desirable because it reduces the government's net cost. Similarly, because, as the article argues, it is difficult to justify giving away carbon permits in the first place, taxing the permits makes sense. It will allow the government to capture at least a portion of permit value for other uses, e.g., deficit reduction.
Download or read book Allowance Allocation in a CO2 Emissions Cap and Trade Program for the Electricity Sector in California written by Karen L. Palmer and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The regulation of greenhouse gas emissions from the electricity sector within a cap-and-trade system poses significant policy questions about how to allocate tradable emission allowances. Allocation conveys tremendous value and can have efficiency consequences. This research uses simulation modeling for the electricity sector to examine different approaches to allocation under a cap-and-trade program in California. The decision affects prices and other aspects of the electricity sector, as well as implications for the overall cost of climate policy. An important issue is the opportunity for emission reductions in California to be offset by emission increases in neighboring regions that supply electricity to the state. The amount of emission leakage (i.e. an increase in CO2 emissions outside of California as a result of the program) varies with the regulatory design of the program.
Download or read book Greenhouse Gas Emissions Allowance Allocation written by and published by . This book was released on 2008 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: This policy brief outlines various options for distributing greenhouse gas emission allowances under a cap-and-trade program. Allowances represent a significant source of value and can be used to compensate firms or individuals affected by climate change policy or to raise funds for other socially desirable policy objectives. The basic allocation decision involves whether to freely allocate emission allowances, and if so, to whom, and whether to auction allowances, and if so, how to distribute the revenues. A number of recent cap-and-trade proposals begin with a combined approach that provides some allowances for free and auctions the rest, with the share of auctioned allowances rising over time. If free allocation is chosen, the basis for distribution must be determined. Options include granting allowances based on historical emissions ("grandfathering"), on levels of an output or input, or on an environmental performance "benchmark;" each has implications in terms of who benefits from the value of the allowances. If allowances are auctioned, in addition to deciding how the revenue generated by the auction will be used, policymakers will need to determine the type and frequency of the auction. Many of the same objectives can be met using either auction revenues or free allocation, including easing transition for affected firms and consumers and supporting new technologies. However, allocation decisions will sometimes entail trade-offs among the competing goals of achieving an equitable distribution of economic impacts, ensuring political feasibility, and minimizing overall program cost. Allowance allocation presents both a challenge and an opportunity: no allocation formula will satisfy everyone, yet allocation decisions can be made in ways that ease the transition to a low-carbon economy and enhance the likelihood of meaningful action on climate change.
Download or read book Designing the Allocation Process for California s Greenhouse Gas Emissions Trading Program written by and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
