Despite the US rejection of the Kyoto Protocol, the meeting of the parties to the UN Framework Convention on Climate Change in July 2001 has increased the likelihood that the Protocol will be ratified. This raises a number of issues concerning mitigation costs, particularly for the buyers and...

This paper examines the role of technology in managing the costs of a carbon constraint on the U.S. economy. Two portfolios of technology are examined. One reflects modest investments in climate-friendly technologies, the other more aggressive development. The analysis indicates that the...