With the United States’ reentry to the Paris Agreement, there is now consensus among the world's largest carbon emitters that emissions must be reduced. But there is still a radical lack of consensus on what regulations should be chosen to reduce carbon. Worse, there is also a radical...

This paper suggests that a mixture of measures may be needed to encourage renewable energy under the Kyoto Protocol. It explains that the goal of maximizing short term cost effectiveness tends to conflict with the goal of encouraging the long-term technological development that the world will...

The U.S. Department of Energy is working to develop and implement commercial-scale carbon capture and storage. This article discusses the technical and legal problems that must be resolved to have a viable program. It concludes that whether carbon sequestration becomes a commercial reality will...

The United States has long suffered from a schizophrenia about energy policy. The importance of one of the factors in energy policy, the environment, has never been formally defined. Climate change adds another distinct layer to this complexity, as neither energy policies nor environmental...

This article updates the author's prior articles on carbon capture and storage (sequestration) to cover developments in 2010-2013. It also covers regulatory development concerning fossil-fueled electric power plants

In a parsimonious two-sector general equilibrium model, we challenge the widely-held tenet that within a cap-and-trade system renewable energy policies have no effect on carbon emissions. If the cap does not capture all sectors, we demonstrate that variations of a renewable energy subsidy change...

The greenhouse gas emissions trading scheme in the European Union primarily uses grandfathering until 2012, which means that polluters get emission rights free of charge based on their historical emissions. Energy consumers accuse energy producers of making windfall profits by incorporating the...

Governments around the globe embrace "energy efficiency" to address climate change. For example, the European Union’s "2030 Climate and Energy Framework" explicitly links the pledge to cut greenhouse gas emissions by 40% until 2030 (from 1990 levels) to the goal of a 32.5% improvement of...

The European Union Emissions Trading Scheme (EU ETS) has aimed to encourage the development of low-carbon technologies by putting a price on carbon emissions. Using a newly constructed data set that links 8.5 million European companies with their patenting history and their regulatory status...

With the increase of the linear reduction factor (LRF), the implementation of the market stability reserve (MSR) and the introduction of the cancellation mechanism (CM), the EU ETS changed fundamentally. We develop a discrete time model of the intertemporal allowance market that accurately...