Common Tragedies

Thoughts on Environmental Economics

Congressional 411

Posted by Daniel Hall on October 31, 2007

Talking about the current climate policy proposals in Congress, John Whitehead of Environmental Economics wonders:

…what is the difference between Bingaman-Specter’s “hand out about 80 percent of emissions credits to industry instead of making companies pay for them” and Lieberman-Warner’s “about 20 percent of emissions credits to be auctioned initially”?

Now he can find out for himself! Resources for the Future has a useful table and chart up at their website summarizing the major market-based climate change bills that have been proposed in Congress.

And regarding John’s question, it turns out that there is some difference between allowance allocation in the bills, but the source he’s quoting doesn’t really get it quite right. Both bills would initially auction 24% of allowances — with this percentage increasing over time — and give free allowances to industry that would be gradually phased out, 53% in the case of Bingaman-Specter, and 40% in the case of Lieberman-Warner.

About these ads

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
Follow

Get every new post delivered to your Inbox.

Join 33 other followers

%d bloggers like this: