Friday 16 September 2011
Some Inconvenient Truths About Climate Change Policy
Instead of efficiently pricing greenhouse gases, policy makers have favored measures that implicitly or explicitly subsidize low carbon fuels. The authors simulate a transportation-sector cap & trade program (CAT) and three policies currently in use: ethanol subsidies, a renewable fuel standard (RFS), and a low carbon fuel standard (LCFS). The simulations confirm that the alternatives to CAT are quite costly|2.5 to 4 times more expensive. http://web.mit.edu/ceepr/www/ publications/workingpapers/ 2011-016.pdf
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