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Just like the blind men in the popular story of perceiving the elephant, the three major constituencies participating in the energy debate have greatly different perceptions of the problem. The constituency that is worried about climate change believes the energy problem is caused by profligate...

This paper presents a survey of issues and concerns raised in recent literature on the application of market-based approaches to greenhouse effect policy with an emphasis on tradeable emission permits. The potential advantages of decentralized decision-making -- cost-effectiveness or allocation...

Motor vehicles are a major source of greenhouse gases, and the rising numbers of motor vehicles and miles driven could lead to more harmful emissions that may ultimately affect the world`s climate. One approach to curtailing such emissions is to use, instead of gasoline, alternative fuels: LPG,...

Several bills were introduced in the past two Congresses to reduce emissions of sulfur dioxide and nitrogen oxides from electric power plants. The effects of these bills on electricity costs depend on features of the bills, on the mix of generating capacity owned by different electric utilities,...

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...