Description
This excerpt from "Global Warming and Energy Demands" discusses the possible effects of energy prices on greenhouse gas emissions. The book considers the responsiveness of energy markets to economic controls in order to assess the feasibility of reducing the emission of greenhouse gases.
The threats posed by global warming continue to dominate environmental concerns. Central to this is the part played by greenhouse gas emissions. While various means of curbing these have been considered, most credence is given to some sort of price-based control. Global Warming and Energy Demands brings together a range of current views on this subject. The authors of this book consider the responsiveness of energy markets to economic controls in order to assess the feasibility of reducing the emission of greenhouse gases. With the focus on global warming, they address both aggregate energy elasticities as well as those for individual fuels with different carbon contents. Moreover, in light of the long-term consequences of global warming as well as policies designed to mitigate it, the work emphasizes the importance of distinguishing between long and short-run elasticities. Other substantive issues such as the importance of the structural characteristics of the energy market and autonomous improvements in energy efficiency are also discussed. The authors are drawn from diverse backgrounds and interests, which are reflected in the different approaches employed and the scope of the
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