Optimal abatement of carbon emission flows

Moreaux, Michel and Withagen, Cees (2015) Optimal abatement of carbon emission flows. Journal of Environmental Economics and Management, 74. pp. 55-70.

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Official URL: http://tse-fr.eu/pub/29834

Abstract

We study optimal carbon capture and storage (CCS) from point sources, taking into account damages incurred from the accumulation of carbon in the atmosphere and exhaustibility of fossil fuel reserves. High carbon concentrations call for full CCS, meaning zero net emissions. We identify conditions under which partial or no CCS is optimal. In the absence of CCS the CO2 stock might be inverted U-shaped. With CCS more complicated behavior may arise. It can be optimal to have full capture initially, yielding a decreasing stock, then partial capture while keeping the CO2 stock constant, and a final phase without capture but with an inverted U-shaped CO2 stock. We also introduce the option of adaptation and provide a unified theory regarding the optimal use of CCS and adaptation.

Item Type: Article
Language: English
Date: November 2015
Refereed: Yes
Uncontrolled Keywords: Climate change, Carbon capture and storage, Adaptation, Non-renewable resources
JEL codes: Q32 - Exhaustible Resources and Economic Development
Q43 - Energy and the Macroeconomy
Q54 - Climate; Natural Disasters
Subjects: B- ECONOMIE ET FINANCE
Divisions: TSE-R (Toulouse)
Site: UT1
Date Deposited: 05 Nov 2015 15:10
Last Modified: 07 Mar 2018 13:23
OAI ID: oai:tse-fr.eu:29834
URI: http://publications.ut-capitole.fr/id/eprint/18604

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