Holland, Stephen P.; Knittel, Christopher R.; Hughes, … - National Bureau of Economic Research (NBER) - 2007
A low carbon fuel standard (LCFS) seeks to reduce greenhouse gas emissions by limiting a fuel producer's carbon … emissions per unit of output. California has launched an LCFS for transportation fuels; others have called for a national LCFS … effect of this may be an increase in carbon emissions. The LCFS cannot be first best, and the best LCFS may reduce social …