Many current global warming mitigation policy proposals call for large, near-term reductions in CO{sub 2} emissions, thereby entailing high initial carbon emission tax rates or permit prices. This paper claims that these high initial tax rates or permit prices are not cost-effective in achieving...

The Clean Air Act Amendments of 1990 (hereafter CAAA) have created a market-based mechanism that is designed to employ a profit-oriented incentive to enable electric utilities to reduce SO{sub 2} emissions at the least cost. One of the most important challenges facing state regulatory utility...

The use of the SO{sub 2} allowance system as defined by Title IV of the 1990 Clean Air Act Amendments offers utilities greater compliance flexibility than EPA technology standards, State Implementation Plan (SEP) performance standards, or EPA bubble/offset strategies. Traditional methods at best...

The Clean Air Act Amendments of 1990 (hereafter CAAA) have created a market-based mechanism that is designed to employ a profit-oriented incentive to enable electric utilities to reduce SO{sub 2} emissions at the least cost. One of the most important challenges facing state regulatory utility...