The centerpiece of Europe Union’s climate policy, the cap-and-trade Emissions Trading System (ETS), is being hobbled by a large oversupply of emissions allowances in the market. Since 2008, the ETS has rapidly accumulated a two gigaton surplus of allowances. The oversupply of allowances and low level of emissions is the result of a number of […]
How Have Recent Fuel Economy and GHG Standards for New Passenger Vehicles Affected the US and European Markets?
In the second post of a two-part series, RFF Fellow Joshua Linn examines how recent standards have affected the type and rate of technology adoption in new vehicles. Click to read the first installment. Concerns about global warming and energy security have caused many countries to tighten passenger vehicle standards for greenhouse gases and fuel […]
In the first of a two-part series, RFF Fellow Joshua Linn explains how vehicle manufacturers respond to tightening fuel economy standards. Click to read the second installment. Though the Corporate Average Fuel Economy (CAFE) standards have been regulating the fuel economy of US vehicles since 1978, the levels of the standards were pretty much flat […]
In an editorial, the Economist this week argues that “if Britain wants an American-style energy boom, it should import American-style local taxation.” In short, they argue that differences in public opinion toward fracking are driven by differences in how the benefits of development are distributed. In the UK (and most other European countries), subsurface mineral […]
The rapid change in Germany’s energy mix – the Energiewende, or “energy shift”—is readily apparent to any visitor. Towering wind turbines sprout from ridges, just as across much of Europe and parts of the U.S. The bigger surprise—and bigger change in just the last few years—is the increase in solar deployment. Not just rooftops, but […]
New research explores lessons learned to date from carbon markets around the world and presents new issues to be examined in the future, such as the linking of existing markets. Click here to read the feature in its entirety.
As in Durban, a notable concern at this COP is the “ambition deficit”—that is, the significant gap between the Intergovernmental Panel on Climate Change’s recommended level of emissions reductions—those required to limit global temperature rise to 2°C—and the level of emissions reductions currently committed to by countries worldwide. In other words, everyone is aiming low […]
Early last Saturday morning, the U.S. Senate stepped squarely into the debate over global aviation emissions, unanimously passing a bill that would give the Secretary of Transportation the power to prohibit U.S. airlines from complying with a new European law that require all airlines flying to or from Europe to participate in the European cap-and-trade […]
The EU’s announcement that it would link emissions markets with Australia beginning in 2015 brings a breath of fresh air to the prospect of a global price on carbon. In July, Australia introduced a tax that will transition into a cap and trade program in 2015. Currently the policy is under intense political attack. The […]
The European Union has been in the news recently with its proposal for a minimum carbon tax. Australia’s controversial carbon tax proposal has also been grabbing headlines. But most forget that just last year, France also was on the brink of incorporating a carbon tax. It was rejected by France’s constitutional court. However, the proposal […]