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Air Emissions of Ammonia and Methane from Livestock Operations: Valuation and Policy Options AgEcon
Shih, Jhih-Shyang; Burtraw, Dallas; Palmer, Karen L.; Siikamaki, Juha.
The animal husbandry industry is a major emitter of methane, which is an important greenhouse gas. The industry is also a major emitter of ammonia, which is a precursor of fine particulate matter, arguably the number-one environment-related public health threat facing the nation. We present an integrated process model of the engineering economics of technologies to reduce methane and ammonia emissions at dairy operations in California. Three policy options are explored: greenhouse gas offset credits for methane control, particulate matter offset credits for ammonia control, and expanded net metering policies to provide revenue for the sale of electricity generated from captured methane gas. Individually, any of these policies appears to be sufficient to...
Tipo: Working or Discussion Paper Palavras-chave: Methane; Ammonia; Carbon dioxide; Greenhouse gases; Climate change; Offset; Particulate matter; Net metering; Environmental policy; CAFO; Manure management; Biodigester; Electricity; Global warming; Cost-benefit; Incentive approach; Livestock Production/Industries; Q2; Q4; Q53.
Ano: 2006 URL: http://purl.umn.edu/10749
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Allocation of CO2 Emissions Allowances in the Regional Greenhouse Gas Cap-and-Trade Program AgEcon
Burtraw, Dallas; Palmer, Karen L.; Kahn, Danny.
Cap-and-trade programs for air emissions have become the widely accepted, preferred approach to cost-effective pollution reduction. One of the important design questions in a trading program is how to initially distribute the emissions allowances. Under the Acid Rain program created by Title IV of the Clean Air Act, most emissions allowances were distributed to current emitters on the basis of a historic measure of electricity generation in an approach known as grandfathering. Recent proposals have suggested two alternative approaches: allocation according to a formula that is updated over time according to some performance metric in a recent year (the share of electricity generation or something else) and auctioning allowances to the highest bidders....
Tipo: Working or Discussion Paper Palavras-chave: Emissions trading; Allowance allocations; Electricity; Air pollution; Auction; Grandfathering; Generation performance standard; Output-based allocation; Cost-effectiveness; Greenhouse gases; Climate change; Global warming; Carbon dioxide; Sulfur dioxide; Nitrogen oxides; Mercury; Environmental Economics and Policy; Q2; Q25; Q4; L94.
Ano: 2005 URL: http://purl.umn.edu/10650
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Assessing the impact of U.S. ethanol market shocks on global crude oil and U.S. gasoline: A structural VAR approach AgEcon
McPhail, Lihong Lu.
Tipo: Conference Paper or Presentation Palavras-chave: Structural VAR; Ethanol; Crude oil; Gasoline; Shocks; Agricultural and Food Policy; Environmental Economics and Policy; Q1; Q2; Q4.
Ano: 2010 URL: http://purl.umn.edu/61136
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Bioenergy in a Greenhouse Mitigating World AgEcon
McCarl, Bruce A..
Tipo: Journal Article Palavras-chave: Environmental Economics and Policy; Resource /Energy Economics and Policy; Q1; Q4; Q54.
Ano: 2008 URL: http://purl.umn.edu/94503
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Carbon Abatement Costs: Why the Wide Range of Estimates? AgEcon
Fischer, Carolyn; Morgenstern, Richard D..
Estimates of marginal abatement costs for reducing carbon emissions in the United States by the major economic-energy models vary by a factor of five, undermining support for mandatory policies to reduce greenhouse gas emissions. We use meta analysis to explain these cost differences, holding policy regimes constant and focusing on the role of baseline emissions projections and structural characteristics of the models. The results indicate that certain assumptions, like freer trade and greater disaggregation of regions and nonenergy goods, lead to lower estimates of marginal abatement costs, while more disaggregated energy goods raise them. Other choices, like myopic optimization by households or the inclusion of an international finance sector, seem less...
Tipo: Working or Discussion Paper Palavras-chave: Climate models; Carbon tax; Environmental Economics and Policy; Q4; Q25; D58.
Ano: 2003 URL: http://purl.umn.edu/10537
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Carbon Leakage with International Technology Spillovers AgEcon
Gerlagh, Reyer; Kuik, Onno.
In this paper we study the effect of international technology spillovers on carbon leakage. We first develop and analyse two simple competing models for carbon leakage. The first model represents the pollution haven hypothesis. It focuses on the international competition between firms that produce energy-intensive goods. The second model highlights the role of a globally integrated carbon-energy market. We calculate formulas for the leakage rates in both models and, through meta-analysis, show that the second model captures best the major mechanisms reported in the CGE literature on carbon leakage. We extend this model with endogenous energy-saving technology and international technology spillovers. This feature is shown to decrease carbon leakage. We...
Tipo: Working or Discussion Paper Palavras-chave: Carbon-Leakage; Climate Policy; Induced Technological Change; Trade and Environment; Environmental Economics and Policy; F18; O39; Q25; Q4.
Ano: 2007 URL: http://purl.umn.edu/9328
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Climate Change and Agriculture: Economic Impacts AgEcon
Antle, John M..
Tipo: Journal Article Palavras-chave: Environmental Economics and Policy; Q1; Q2; Q3; Q4.
Ano: 2008 URL: http://purl.umn.edu/94495
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CO2 Allowance Allocation in the Regional Greenhouse Gas Initiative and the Effect on Electricity Investors AgEcon
Burtraw, Dallas; Kahn, Danny; Palmer, Karen L..
The Regional Greenhouse Gas Initiative (RGGI) is an effort by nine Northeast and Mid-Atlantic states to develop a regional, mandatory, market-based cap-and-trade program to reduce greenhouse gas (GHG) emissions from the electricity sector. The initiative is expected to lead to an increase in the price of electricity in the RGGI region and beyond. The implications of these changes for the value of electricity-generating assets and the market value of the firms that own them depends on the initial allocation of carbon dioxide allowances, the composition of generating assets owned by the firm, and the locations of those assets. Changes in asset values inside the RGGI region may be positive or negative, whereas changes outside of the RGGI region are almost...
Tipo: Working or Discussion Paper Palavras-chave: Emissions trading; Allowance allocations; Electricity; Air pollution; Auction; Grandfathering; Generation-performance standard; Output-based allocation; Cost-effectiveness; Greenhouse gases; Climate change; Global warming; Carbon dioxide; Asset value; Environmental Economics and Policy; Q2; Q25; Q4; L94.
Ano: 2005 URL: http://purl.umn.edu/10495
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Computable General Equilibrium Analysis of the Economic and Land-use Interfaces of Bio-energy Development AgEcon
Abdula, Rahimaisa D..
This paper explores the inter-sectoral and land-use dynamics behind the development of bio-energy as a climate change policy through a computable general equilibrium (CGE) with a land use change (LUC) model. It assesses the economic and social costs of bio-energy development both in terms of the financial investment needed for its market penetration and in terms of the trade-offs its future supply will entail upon the land-use system. It analyzes how policies directed to develop bio-energy alters the pattern of energy mix and land utilization in the economy and how these changes in turn contribute to carbon dioxide (CO2) mitigation. Policies analyzed in the study include carbon tax with revenues recycled upon bio-energy subsidy and upon direct tax...
Tipo: Conference Paper or Presentation Palavras-chave: Resource /Energy Economics and Policy; D58; Q4; Q52; H23; O13.
Ano: 2006 URL: http://purl.umn.edu/25536
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Cost Savings, Market Performance, and Economic Benefits of the U.S. Acid Rain Program AgEcon
Burtraw, Dallas.
This paper reports on four areas of research concerning Title IV of the 1990 Clean Air Act Amendments that regulates emissions of SO2 from electricity generation. The first is the costs of the program over the long-run as estimated from the current perspective taking into account recent changes in fuel markets and technology. We compare projected costs with potential cost savings that can be attributable to formal trading of emission allowances. The second area is an evaluation of how well allowance trading has worked to date. The third area is the relationship between compliance costs and economic costs from a general equilibrium perspective. The fourth area is a comparison of benefits and costs for the program.
Tipo: Working or Discussion Paper Palavras-chave: Acid rain; Benefit-cost analysis; Air pollution; Permit trading; Clean Air Act; Environmental Economics and Policy; H43; Q2; Q4.
Ano: 1998 URL: http://purl.umn.edu/10885
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Cost-Effective Reduction of NOx Emissions from Electricity Generation AgEcon
Burtraw, Dallas; Palmer, Karen L.; Bharvirkar, Ranjit; Paul, Anthony.
This paper analyzes the benefits and costs of policies to reduce nitrogen oxides (NOX) emissions from electricity generation in the United States. Because emissions of NOX contribute to the high concentration of atmospheric ozone in the eastern states that is associated with health hazards, the U.S. Environmental Protection Agency (EPA) has called on eastern states to formulate state implementation plans (SIPs) for reducing NOX emissions. Our analysis considers three NOX reduction scenarios: a summer seasonal cap in the eastern states covered by EPA's NOX SIP Call, an annual cap in the same SIP Call region, and a national annual cap. All scenarios allow for emissions trading. Although EPA's current policy is to implement a seasonal cap in the SIP Call...
Tipo: Working or Discussion Paper Palavras-chave: Emissions trading; Electricity; Particulates; Nitrogen oxides; NOx; Health benefits; Environmental Economics and Policy; Q2; Q4.
Ano: 2001 URL: http://purl.umn.edu/10677
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Determining Project-Based Emissions Baselines with Incomplete Information AgEcon
Fischer, Carolyn.
Project-based mechanisms for emissions reductions credits, like the Clean Development Mechanism, pose important challenges for policy design because of several inherent characteristics. Participation is voluntary. Evaluating reductions requires assigning a baseline for a counterfactual that cannot be measured. Some investments have both economic and environmental benefits and might occur anyway. Uncertainty surrounds both emissions and investment returns. Parties to the project are likely to have more information than the certifying authority. The certifying agent is limited in its ability to design a contract that would reveal investment intentions. As a result, rules for baseline determination may be systematically biased to overallocate, and they also...
Tipo: Working or Discussion Paper Palavras-chave: Climate policy; Clean Development Mechanism; Baseline emissions; Asymmetric information; Environmental Economics and Policy; D8; Q4.
Ano: 2002 URL: http://purl.umn.edu/10520
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Determining the Impact of Wind on System Costs via the Temporal Patterns of Load and Wind Generation AgEcon
Davis, Clay D.; Gotham, Douglas J.; Preckel, Paul V..
Tipo: Conference Paper or Presentation Palavras-chave: Wind Energy; System Costs; Alternative Energy; Electricity Generation; Environmental Economics and Policy; Resource /Energy Economics and Policy; Q4; Q42; Q54.
Ano: 2011 URL: http://purl.umn.edu/103770
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Economic Analysis and the Formulation of U.S. Climate Policy AgEcon
Toman, Michael.
Economic analysts within government agencies as well as outside government has played a noticeable and increasing role in formulating U.S. climate policy. However, that role has remained limited; in particular, economic analysis has largely been ignored and occasionally even derided in the context of setting targets for GHG control. This paper explores this uneasy relationship between analysis and policy during several U.S. administrations. Some of these problems stem from the incompleteness of the economic analyses themselves, and economic analysts sometimes have not been the most effective advocates for their own findings. However, I think one of the biggest obstacles to more effective use of economic analysis in climate policymaking has been a basic...
Tipo: Working or Discussion Paper Palavras-chave: Climate change; Kyoto Protocol; Council of Economic Advisers; Resource /Energy Economics and Policy; Q2; Q4.
Ano: 2003 URL: http://purl.umn.edu/10528
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Efficiency Improving Fossil Fuel Technologies for Electricity Generation: Data Selection and Trends AgEcon
Lanzi, Elisa; Verdolini, Elena; Hascic, Ivan.
This paper studies innovation dynamics in efficiency improving electricity generation technologies as an important means of mitigating climate change impacts. Relevant patents are identified and used as an indicator of innovation. We find that patenting in efficiency improving technologies has mostly been stable over time, with a recent decreasing trend. We also find that majority of patents are first filed in OECD countries and only then in non-OECD or BRIC countries. Conversely, non-OECD and BRIC countries apply for patents that are mostly marketed domestically. This result shows that there is significant technology transfer in the field of efficiency improving technologies for electricity production. This flow of know-how is likely to contribute to...
Tipo: Working or Discussion Paper Palavras-chave: Climate Change; Technological Innovation; Energy; Patents; Fossil Fuels; Resource /Energy Economics and Policy; Q32; Q4; Q55.
Ano: 2011 URL: http://purl.umn.edu/99688
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Efficient Emission Fees in the U.S. Electricity Sector AgEcon
Banzhaf, H. Spencer; Burtraw, Dallas; Palmer, Karen L..
This paper provides new estimates of efficient emission fees for sulfur dioxide (SO2) and nitrogen oxides (NOX) emissions in the U.S. electricity sector. The estimates are obtained by coupling a detailed simulation model of the U.S. electricity markets with an integrated assessment model that links changes in emissions with atmospheric transport, environmental endpoints, and valuation of impacts. Efficient fees are found by comparing incremental benefits with emission fee levels. National quantity caps that are equivalent to these fees also are computed, and found to approximate caps under consideration in the current multi-pollutant debate in the U.S. Congress and the recent proposals from the Bush administration for the electricity industry. We also...
Tipo: Working or Discussion Paper Palavras-chave: Emissions trading; Emission fees; Air pollution; Cost-benefit analysis; Electricity; Particulates; Nitrogen oxides; NOx; Sulfur dioxide; SO2; Health benefits; Environmental Economics and Policy; Q2; Q4; D61.
Ano: 2002 URL: http://purl.umn.edu/10505
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Energy and Climate Change in China AgEcon
Carraro, Carlo; Massetti, Emanuele.
The paper examines future energy and emissions scenarios in China, presenting historical data and scenarios generated using the Integrated Assessment Model WITCH. A Business-as-Usual scenario is compared with four scenarios in which Greenhouse Gases emissions are taxed, at different levels. Key insights are provided to evaluate the Chinese pledge to reduce the emissions intensity of Gross Domestic Product by 40/45 percent in 2020 contained in the Copenhagen Accord. Marginal and total abatement costs are discussed using the OECD economies as a term of comparison. Cost estimates for different emissions reduction targets are used to assess the political feasibility of the 50 percent global reduction target set by the G8 and Major Economies Forum in July 2009.
Tipo: Working or Discussion Paper Palavras-chave: Climate Change; China; Energy Efficiency; Energy and Development; Resource /Energy Economics and Policy; Q4.
Ano: 2011 URL: http://purl.umn.edu/101294
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Ethanol Plant Investment using Net Present Value and Real Options Analyses AgEcon
Schmit, Todd M.; Luo, Jianchuan; Tauer, Loren W..
A real option analysis of dry-grind corn ethanol plants compared to a standard net present value analysis (NPV) shows that the option values increase entry prices and lower exit prices of investment and disinvestment considerably. For a large plant, the gross margin of ethanol price over the corn price for a gallon of ethanol using NPV shows that entry will occur with a $0.45 margin and shutdown will occur at a $0.38. Under a real options framework, the margins for entry and exit become $1.33 and $0.13, respectively. Under baseline conditions, a large operating plant would become mothballed at $0.18 and reactivate if margins rebounded to $0.66. Growth in the variability of ethanol margins will delay new plant investments, as well as exits of currently...
Tipo: Working or Discussion Paper Palavras-chave: Ethanol; Net Present Value; Real Options Analyses; Environmental Economics and Policy; Financial Economics; Production Economics; Resource /Energy Economics and Policy; D21; D81; Q4.
Ano: 2008 URL: http://purl.umn.edu/51145
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Evaluating the Impacts of the EU-ETS on Prices, Investments and Profits of the Italian Electricity Market AgEcon
Bonenti, Francesca; Oggioni, Giorgia; Allevi, Elisabetta; Marangoni, Giacomo.
In this paper we investigate the economic impacts of the European Emission Trading Scheme (EU-ETS) on the Italian electricity market by a power generation expansion model. In particular, we assume that generators make their capacity expansion decisions in a Cournot or in a perfect competition manner. This model is used to measure the effects of the EU-ETS Directives on electricity prices and demand, investments and generators' profits both in an oligopolistic and in a perfectly competitive organization of the power market. We adopt a technological representation of the energy market which is discretized into six geographical zones (North, Center-North, Center-South, South, Sicily, Sardinia) and five virtual poles (Monfalcone, Foggia, Brindisi, Rossano,...
Tipo: Working Paper Palavras-chave: Complementarity Conditions; General Equilibrium Models; EU-ETS; Italian Electricity Market; Resource /Energy Economics and Policy; Q4; Q48.
Ano: 2011 URL: http://purl.umn.edu/120050
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Fundamental Economics of Depletable Energy Supply AgEcon
Krautkraemer, Jeffrey A.; Toman, Michael.
In this paper, we first present and discuss the basic logic underlying all neoclassical economic theories of "optimal" energy supply: maximization of the present value of some stream of economic returns. We then discuss how the economic theory of optimal resource depletion has evolved since Hotelling's classic 1931 article. We also consider the power of the theory to support improved empirical understanding of actual behavior. Our discussion of empirical literature indicates that this work has so far provided only limited empirical understanding.
Tipo: Working or Discussion Paper Palavras-chave: Depletable resources; Energy; Intertemporal optimization; Resource /Energy Economics and Policy; Q4.
Ano: 2003 URL: http://purl.umn.edu/10842
Registros recuperados: 54
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