Depletion of fossil fuels and the impacts of global warming
Article Abstract:
A model has been developed to analyze the relationship between fossil fuel depletion and greenhouse externalities. An optimal carbon tax and a backstop technology were introduced to stimulate the economic depletion of fossil fuels. The results showed that the carbon tax rises considerably during the its first years of implementation but begins to decline before the stock of carbon in the atmosphere reaches maximum. In addition, the use of the backstop technology intensifies as the price of fossil fuel increases. When the consumer price of fossil fuels reaches the price of the backstop technology, both commodities will have reached optimal consumption.
Publication Name: Resource and Energy Economics
Subject: Petroleum, energy and mining industries
ISSN: 0928-7655
Year: 1996
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Efficient incomplete international climate agreements
Article Abstract:
A study was conducted to develop an optimal design for a carbon tax when countries participating in an international climate policy seek to maximize their net income after subtracting environmental costs, which depend on the sum of all CO2 emissions from both participating and non-participating countries. The results show that an optimal combination of consumer and producer taxes exists for all fossil fuels when both production and consumption of fossil fuels are taxed. However, the tax per unit of carbon should be differentiated across fossil fuels if participating countries tax production alone or consumption alone.
Publication Name: Resource and Energy Economics
Subject: Petroleum, energy and mining industries
ISSN: 0928-7655
Year: 1995
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The welfare cost of a global carbon tax when tax revenues are recycled
Article Abstract:
A study was conducted to determine the effects of using carbon tax revenues to finance reductions in existing taxes on the welfare costs of slowing down CO2-induced global warming. The results show that a revenue-neutral carbon tax policy has a positive net welfare effect that could significantly slow down climate change. The optimal emissions reduction based exclusively on tax considerations is 37%. When benefits from averting greenhouse damages are included, the optimal emissions reduction is 40%.
Publication Name: Resource and Energy Economics
Subject: Petroleum, energy and mining industries
ISSN: 0928-7655
Year: 1995
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