Geoscience Reference
In-Depth Information
15
THE COSTS OF SLOWING
CLIMATE CHANGE
The previous chapter concluded that limiting climate change requires
focusing primarily on reducing concentrations of CO 2 and other green-
house gases (GHGs). We saw that there are four basic ways to accom-
plish this. The fi rst, which is really not in contention, would reduce our
living standards by slowing economic growth.
The other three are worth serious consideration. We might change
our lifestyle by curbing our carbon-intensive activities, such as deciding
not to fl y around the world. Additionally, we might produce our goods
and services with low-carbon or no-carbon technologies or fuels, such
as substituting natural gas or wind for coal in our electricity generation.
And fi nally, we might burn fossil fuels but remove the CO 2 after com-
bustion.
The purpose of climate-change policies is to encourage all three of
these actions. Effective and effi cient policies must affect the decisions of
billions of people, fi rms, and governments around the world to induce
them to use low-carbon consumption and technologies. Some technolo-
gies are obvious, such as reducing the net CO 2 emissions from coal-
fi red electricity. Others are subtle, such as operating factories more
effi ciently. Yet others, which will be the most promising for the long
run, involve encouraging the development of new and improved tech-
nologies.
However, for the most part, each of these involves costs. New elec-
tricity from wind is more expensive than power from effi cient coal
plants. A hybrid car costs more than a standard car. And, from the point
 
 
 
Search WWH ::




Custom Search