Common Tragedies

Thoughts on Environmental Economics

Watch and learn

Posted by Daniel Hall on December 6, 2007

Billy Pizer of Resources for the Future appears on E&ETV today to discuss the new RFF report, “Assessing U.S. Climate Policy Options.”

He saved his best comment for the end of the interview:

The problem for climate change hinges on very long-term accumulations of gases in the atmosphere. And so in the short run hitting a particular emissions target may not be as important as a price, both from the political salability, but also from the adjustment cost to the economy of having a huge jarring effect if we had a high price, and more importantly driving technology. So I tend to think that over the short run there probably should be more emphasis on prices and over the longer run more emphasis on emissions.

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