Not exact matches
The conversation was charged as panelists sparred on 421a, with Pinsky — the former head of the city's Economic Development Corporation — raising questions
about the
cost of lengthy tax
abatements.
While the Government says carbon
abatement costs per tonne of carbon dioxide equivalent (CO2e) should be
about # 56 ($ 87) for road transport, the report says the
cost using the current generation of biofuels ranges from
about # 105 to # 715 ($ 165 - 1,100).
In the 1980s, tradable - permit systems were used to accomplish the phasedown of lead in gasoline -(at a savings of
about $ 250 million per year), and to facilitate the phaseout of ozone - depleting chloroflourocarbons (CFCs); and in the 1990's, tradable permits were used to implement stricter air pollution controls in the Los Angeles metropolitan region, and — most important of all — a cap - and - trade system was adopted to reduce sulfur dioxide (SO2) emissions and consequent acid rain by 50 percent under the Clean Air Act amendments of 1990 (saving
about $ 1 billion per year in
abatement costs).
Amid all the wailing and gnashing of teeth in many Anglo countries
about the
cost of carbon
abatement and clean energy, the European Union remains steadfast in its belief that's investing in the future is a lot cheaper than business as usual.
Even using ECS = 3.2 C per CO2 doubling and a high damage function, the
abatement cost greatly exceeds the projected benefits for all of this century for any reasonable assumptions
about achievable participation rates.
An electricity grid powered b y mostly nuclear power (like France) with some pumped hydro and some gas for peaking, abates more CO2 than a mostly renewable energy powered grid, and does so ant
about 1/3 the
abatement cost.
Discounted global
abatement costs are anything from
about 30 to 400 percent higher than under globally efficient pricing in most cases, and near - and medium - term emissions prices can be ten times larger with China's accession delayed until 2035.
Compared with the globally efficient policy (with a globally harmonized emissions price at all times), near - term emissions prices in developed countries rise from between a few percent and 100 percent under the different scenarios, and discounted global
abatement costs are higher by
about 10 to 70 percent.
The nuclear scenario
costed here, with 73 % of electricity generated by nuclear, is estimated at 1/4 to 1/3 the capital
cost, 1 / 3 to1 / 2 the
cost of electricity and
about 1/3 the CO2
abatement cost of the renewable energy scenarios.
The emissions price must also rise at roughly the rate of interest (
about five percent) over time (to equate the discounted marginal
abatement costs at different points in time).
Unlike a cap - and - trade system, there's no analysis and debate
about the
cost of allowances (and the marginal
abatement costs they represent); and unlike a carbon tax, there's no analysis and no focus on the dollar amount of the tax and the aggregate
cost.
China's climate policy meshes with concerns
about energy security, pollution
abatement and the
cost of energy itself, as well as the impacts of climate change and China's international reputation.
On that basis, the CO2
abatement cost with wind is
about 2x what is claimed.