I recently testified before a California Senate Select Committee on the state’s climate policies about California’s interactions in the development of policy across the country and internationally. I highlighted the four main points below in my remarks, and you can read the full testimony here. California is not alone. It is joined by many other [...]
The new CAFE standards may require complementary policies to meet the ambitious goals of reducing fuel consumption and greenhouse gas emissions. In a new RFF discussion paper, I examine the new footprint standards, their implications for changes to the size mix of vehicles, and the role of credit policies on compliance and cost-effectiveness of the [...]
When it comes to climate policy, it seems like pessimism is the only thing that rivals greenhouse gas emissions in terms of volume. Last week, the daily atmospheric content of CO2 popped up over 400 parts per million, pushing the stated goal of keeping worldwide temperatures to a 2˚C increase even further from reach. Beneath [...]
Tax exemptions, industry rebates, and border tax adjustments can help protect the competitiveness of industries affected by a carbon tax, but they are not equally efficient at achieving economic and environmental goals. In the latest issue of Resources, Richard Morgenstern, Nathan Richardson, and I examine the issues. Read more here.
Carbon pricing remains the strongest option for reducing greenhouse gas emissions and mitigating climate change. But such a policy still faces serious political hurdles in part because of the perception that a carbon tax would most negatively impact the poor. Clayton Munnings and I address the potential of a carbon tax to actually be progressive [...]
Economists have long recognized that linking carbon markets reduces the overall cost of achieving emissions reductions. This economic benefit originates from allowance flows between previously isolated markets that help identify and achieve emissions reductions in the most efficient way. Linking, however, provides non-economic benefits that can be just as important as efficient mitigation. In a [...]
Incrementally aligning policies in distinct carbon markets—linking by degrees—can allow programs to experience immediate benefits of sharing best practices in program design. Together with colleagues at RFF and Yale, we’ve examined the details and prospects for the cap-and-trade programs in California and the Northeast. Read more here.
Building on recent work that highlights the need to account for institutions in crafting economic solutions to environmental problems, Matt Woerman and I look specifically to the implementation of climate policy—and how incentive-based thinking can help. Read more here.
Buried in the middle of climate’s extended shout-out during the State of the Union, President Obama pledged to direct his Cabinet to “to come up with executive actions we can take, now and in the future, to reduce pollution, prepare our communities for the consequences of climate change, and speed the transition to more sustainable [...]
Americans love the coast. We live there. We vacation there. Coastal areas generate substantial economic activity. But building on the coast is risky—storms and sea level rise threaten coastal development. Is there a model of development that allows us to enjoy all the ocean has to offer and yet reduces the risks from these hazards? [...]