The aim of this paper is to examine the impacts of a global carbon tax on fossil fuel markets. In particular, the effect on the Norwegian, as well as the global, petroleum wealth is studied. Most empirical models of fossil fuel markets either use an exogenous price path, or model the supply side...

In this paper we focus on how an international climate treaty will influence the exploration of oil in Non-OPEC countries. We present a numerical intertemporal global equilibrium model for the fossil fuel markets. The international oil market is modelled with a cartel (OPEC) and a competitive...

This paper analyses the markets for fossil fuels given that the limits that the Kyoto Protocol sets on CO2 emissions from Annex B countries extend beyond 2008-2012. To our knowledge we are the first to apply a forward-looking model with endogenous prices for fossil fuels in analysis of specific...

This paper investigates whether an emissions tax (equivalent to an emissions cap) maximizes social welfare (defined as the sum of consumer and producer surplus) in the presence of incomplete regulation (leakage) or market power by analyzing an intensity standard regulating emissions per unit of...

This paper analyses aspects of natural resource policy and environmental policy in Canada. In the taxation of resource-based activities, the management of water supply and the Atlantic fisheries management, the paper finds that there are incentives that may lead to overexploitation,...

This document analyses aspects of natural resource and environmental policies in Australia, focusing on water resource management, salinity and climate change mitigation. The state and central governments have not made use of their taxation powers in these domains. The cap-and-trade system for...

This document analyses German environmental policies, including, among others, discussion of air and water quality policy, use of the waste management hierarchy approach and of voluntary agreements. The German public has been highly sensitive to environmental concerns, leading to many policy...

This paper analyses Sweden’s policies for addressing a range of key environmental challenges. Although Sweden has a deliberately comprehensive approach to establishing its environmental objectives and policies, some issues have received particular attention. These include acidification and...

This paper analyses aspects of US environmental policy, including, among others, policy on air and water quality, water supply in certain areas, climate change and greenhouse gas emissions. Particular attention is paid to certain policies in agriculture and road transport, sectors with an...

This document analyses the economic impacts of selected environmental policies in Austria with an emphasis on the use of economic instruments and incentives versus command-and-control measures. An important theme in a federation like the Austrian is the institutional complexity involved in many...