Economic Impacts of the Kyoto Protocol: Hearing Before the Committee on Energy and Natural Resources, United States Senate, One Hundred Sixth Congress, First Session ... March 25, 1999, Volume 4U.S. Government Printing Office, 1999 - 92 pages |
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achieve Administration's American Council Annex I countries Annex I trading assumed assumptions billion carbon dioxide carbon emissions carbon permit carbon reduction carbon sinks Center for Policy Chairman China Clean Development Mechanism Climate Change Policy CO2 emissions coal commitment period committee Council for Capital Council of Economic developing countries Domestic Actions Economic Advisers economic cost economic growth economic impacts emis emission credits emission reductions emissions targets emissions trading energy efficiency Energy Information Administration energy prices environmental estimates flexibility mechanisms fuel full global trading gases going greenhouse gas emissions Hakes income industry international trading Janet Yellen joint implementation Kyoto Protocol Kyoto target meeting the Kyoto metric metric ton nations natural gas NOVAK nuclear power OECD participation percent permit price PREPARED STATEMENT Question reducing emissions sector Senator CRAIG Senator THOMAS sions technologies Thank tions trading constraint trading system treaty U.S. economy U.S. SENATOR United WEFA YELLEN
Popular passages
Page 16 - Change (IPCC) concluded in 1995 that "the balance of evidence suggests that there is a discernible human influence on global climate.
Page 83 - The Conference of the Parties shall define the relevant principles, modalities, rules and guidelines, in particular for verification, reporting and accountability for emissions trading. The Parties included in annex B may participate in emissions trading for the purposes of fulfilling their commitments under article 3.
Page 31 - ... energy policy. Because we have an element of statutory independence with respect to the analyses that we publish, our views are strictly those of EIA. We do not speak for the Department, nor for any particular point of view with respect to energy policy, and our views should not be construed as representing those of the Department or the Administration.
Page 17 - ... percent, an increase in fuel oil prices of about 5 to 9 percent, natural gas prices of 3 to 5 percent, gasoline prices of 3 to 4 percent (or around 4 to 6 cents per gallon), and electricity prices of 3 to 4 percent. This increase in energy prices at the household level would raise the average household's energy bill in ten years by between $70 and...
Page 17 - Assuming that effective mechanisms for international trading, Joint Implementation and the Clean Development Mechanism are established, and assuming also that the United States achieves meaningful...
Page 54 - ... their ability to contribute to the solution. Thus even poor countries should participate, although the lack of resources in such countries may limit the extent of their participation. Some have expressed fears that the Kyoto Protocol might adversely affect the competitive position of American industry. Evaluating how the Kyoto Protocol could affect competitiveness of a few specific manufacturing industries -- especially those that are especially energy-intensive, such as aluminum and chemicals...
Page 41 - Achieving a dramatic reduction in carbon emissions would require substantial investments by both consumers and businesses to improve energy efficiency and to substitute low-carbon energy sources for higher carbon energy sources. Because energy-using equipment and facilities have a long life, a great deal of equipment would be replaced long before it would have been without carbon permit fees. These investments would require the diversion of funds from savings and/or investments, which would have...
Page 15 - Of these models, one estimated a 72% reduction in the permit price under Annex I trading. In full global trading, the permit price would be, on average, 80% lower than the no trading price. Several models estimated permit price reductions of about 90%.
Page 21 - ... gains from trade" for both the developing country and its trading partners. Emissions trading by developing countries would occur only if they chose to undertake emissions reductions above and beyond their commitments — reductions that would generate trading extra income for them as long as their marginal abatement cost is below the world trading price for greenhouse gas permits. Many of the EMF models reveal that, for large developing countries, like China, such excess reductions would indeed...
Page 17 - US achieves meaningful developing country participation, our overall assessment is that the economic cost to the United States in aggregate and to typical households of attaining the targets and timetables specified in the Kyoto Protocol, will be modest.