What Will it Cost to Protect Ourselves from Global Warming?
The Impacts on the U.S. Economy of a Cap-and-Trade Policy for Greenhouse Gas Emissions
Environmental Defense Fund | April 2008Nathaniel Keohane, Ph.D.
As scientific evidence of global warming mounts, we now know that we must migrate to a low-carbon economy. Important parts of the world are already moving toward that goal. The economy is a complex cauldron of forces: growth and loss; innovation and obsolescence; new jobs replacing old jobs; and among firms, winners and losers. As a nation, we face the task of harnessing these forces and the natural process of economic change to address the looming problem of global warming.
The U.S. Congress is debating legislation to cap carbon emissions. This study aims to inform that discussion. What kinds of economic challenges and opportunities will the transition to a low-carbon economy present? What are the potential burdens, and what steps can we take to maximize growth and minimize disruption and hardship?
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