February 28, 2007
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Global Climate Change Digest
A Guide to Information on Greenhouse Gases and Ozone Depletion
Published July 1988 through June 1999
FROM VOLUME 6, NUMBER 4, APRIL 1993
CO2 EMISSION REDUCTIONS: APPROACHES AND IMPACTS
Review/Essay: Buying Greenhouse Insurance: The Costs of CO2
Emission Limits (A.S. Manne, R.G. Richels, MIT Press, 1992),
reviewed by W.R. Cline (Inst. Intl. Economics, 11 Dupont Cir. NW,
Washington DC 20036), Clim. Change, 23(2), Feb.
Concludes that the book makes a major contribution by
providing rigorous estimates of the economic costs of abatement,
although they seem more likely to be overstated than understated.
Approves of the "greenhouse insurance" concept
"Opportunities and Constraints Posed by Fuel Poverty on
Policies to Reduce the Greenhouse Effect in Britain," B.
Boardman (St. Hildas Coll., Univ. Oxford, Oxford OX1 3TB, UK), Appl.
Energy, 44(2), 185-195, 1993.
The poor spend twice as much on fuel, as a proportion of
income, and are more likely than other families to be using
electricity for heating. Carbon taxes would heavily penalize the
poor. Awareness of these and other conflicts is needed so that
sound environmental policies do not increase the deprivation of
the poorest families.
EC Proposal for Combining Carbon and Energy Taxes: The
Implications for Future CO2 Emissions," A.S.
Manne (Operations Res., Stanford Univ., Stanford, Calif.), R.G.
Richels, Energy Policy, 21(1), 5-12, Jan. 1993.
Evaluates the EC proposal for the USA as well as for Western
European countries, using the Global 2100 model. The proposal is
unlikely to achieve its long-term targets for emission reduction,
and hinders reductions by imposing a tax on nuclear energy.
Oil Market and International Agreements on CO2
Emissions," K. Berger (Central Bureau Statistics, Oslo,
Norway), O. Fimreite et al., Resour. & Energy, 14(4),
315-336, Dec. 1992.
Analyzes the differing effects on fossil fuel prices of two
possible forms of CO2 emission agreements: tradable
emission permits and an international CO2 tax. Because
of the imperfect competition that exists in the fossil fuel
markets, the former approach implies higher producer prices and a
larger efficiency loss than does a CO2 tax giving the
same total emissions. An illustration based on the oil market
shows that the two approaches yield considerably different
"Curbing CO2 Emissions by Axing EC Coal
Subsidies," B.E. Okogu (Econ. & Finance, OPEC, Obere
Danaustr. 93, 1020 Vienna, Austria), F. Birol, OPEC Bull., 23(10),
7-12, Nov.-Dec. 1992.
Coal is the most polluting of all fossil fuels, yet the
proposed EC carbon/energy tax would favor coal relative to oil
and gas. This analysis, using basic econometric techniques, shows
that eliminating the market distortions of coal subsidies would
reduce carbon emissions significantly.
from J. Energy Eng. (ASCE), 118(2), Aug. 1992:
"California's Tradeable Emissions Policy and Greenhouse
Gas Control," J.P. Dwyer (Sch. Law, Univ. Calif., Berkeley
CA 94720), 59-76. Experience with California's existing tradable
market scheme for conventional air pollutants illustrates some of
the practical difficulties facing this approach to regulating
greenhouse emissions. In addition to the need for effective
monitoring and enforcement, there are institutional problems, and
industrial firms tend to withhold emission credits from the
market. A half-hearted approach to market-based regulation
virtually guarantees failure.
"Equity and International Agreements for CO2
Containment," D. Burtraw (Resour. for the Future, 1616 P St.
NW, Washington DC 20036), M.A. Toman, 122-135. Discusses some
basic concepts regarding equity and burden-sharing. Examines the
consequences of different a priori sharing rules or
"focal points" for greenhouse gas negotiations, finding
the case for them to be limited. Offers instead a synthesis of
focal point equity theory and strategic bargaining theory, and
examines the question of linking CO2 agreements to
other international policy issues.
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Index of Abbreviations