Interviewed by Re3, Professor Robert O. Mendelsohn, Yale School of Forestry and Environmental Studies, discusses the effects of climate change on sectors such as Agriculture, Heating & Cooling, Sea Level Rise and the Water Cycle.

The sulfur dioxide (SO₂) cap and trade program established in the 1990 Clean Air Act Amendments is celebrated for reducing abatement costs ($0.7 to $2.1 billion per year) by allowing emissions allowances to be traded. Unfortunately, places with high marginal costs also tend to have high marginal...