Economics of Policy Options to Address Climate Change

100 Pages·2009·6.27 MB·English

by  Gregory N. Bartos

E P O
CONOMICS OF OLICY PTIONS
TO ADDRESS CLIMATE CHANGE

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E P O
CONOMICS OF OLICY PTIONS
TO ADDRESS CLIMATE CHANGE

GREGORY N. BARTOS

Nova Science Publishers, Inc.
New York
Copyright © 2009 by Nova Science Publishers, Inc.

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CONTENTS

Preface vii
Abbreviations ix
Correspondence xi
Chapter 1 Results in Brief 1
Chapter 2 Background 5
Mitigating Greenhouse Gas Emissions 11
Adaptation Policies to Reduce Vulnerability
to Climate Change 13
Estimating the Potential Benefits and Costs of Actions to
Address Climate Change 14
Climate Change Policies Currently under
Consideration by the Congress 16
Chapter 3 Despite some Uncertainty Regarding the
Potential Economic Impact,
All of the Panelists Supported Establishing
a Price on Greenhouse Gas Emissions 17
All of the Panelists Agreed that the Congress
Should Consider Establishing a Price on Greenhouse Gas
Emissions, and the Majority Recommended Complementary
Policies 18
Panelists Described the Potential Benefits and Costs of Actions
to Address Climate Change 22
vi Contents
Panelists Rated Estimates of Costs of Actions to
Address Climate Change as more Useful than
Estimates of Benefits, Citing Uncertainties Associated
with Future Impacts 25
The Majority of Panelists Said that the United States
should Begin to Control Emissions Soon,
regardless of International Participation 27
Chapter 4 The Panelists’ Views on the Strengths and
Limitations of Policy Options Focused Primarily
on the Environmental Certainty of a Cap-and-Trade
System versus the Efficiency of a Tax on Emissions 29
Panelists Rated the Importance of Criteria for
Evaluating Policy Options 31
The Most Important Trade-offs Are between
the Relative Effectiveness of Cap-and-Trade Systems
and the Relative Efficiency of Taxes 31
The Panelists Viewed Other Policy Options less Favorably but
Cited Their Potential as a Complement to a Market-Based
Mechanism 33
Appendix I Scope and Methodology 39
Appendix II Selected Characteristics of Panelists’ Preferred
Policy Options for Addressing Climate Change 43
Appendix III Selected Questions and Expert Responses 47
Appendix IV Panel of Experts 57
Appendix V Bibliography of Selected Literature Reviewed by GAO 59
Endnotes 71
Index 75
PREFACE

Elevated levels of greenhouse gases in the atmosphere and the resulting
effects on the earth’s climate could have significant environmental and economic
impacts in the United States and internationally. Potential impacts include rising
sea levels and a shift in the intensity and frequency of floods and storms.
Proposed responses to climate change include adapting to the possible impacts by
planning and improving protective infrastructure, and reducing greenhouse gas
emissions directly through regulation or the promotion of low-emissions
technologies. Because most U.S. emissions stem from the combustion of fossil
fuels such as coal, oil, and natural gas, much of this book centers on the effect
emissions regulation could have on the economy.