Download image Eliminating the remainder of the U. A number of factors besides currency manipulation contribute to large U. On the part of other countries, these include unfair trade policies such as subsidies, trade barriers, and illegal appropriation of the intellectual property of U.
The concept of pricing carbon by way of a tax has been gaining traction among economists as an efficient, market-based strategy for reducing GHG emissions in the United States. More recently, the idea has garnered the attention of prominent Republicans and Democrats within and outside of Congress as well as advocates on the left and right poles of the national political spectrum.
Regardless of the motivation for pursuing a carbon tax, current and future discussions can benefit from an up-to-date and comprehensive assessment of what such a policy would mean for the US energy system and resulting GHG emissions in the future.
First, how responsive are different sectors of the US economy to a carbon tax at different tax rates? The answer has important policy implications, such as the amount of federal revenue collected under any given tax rate, the likelihood of achieving specified GHG reduction targets, and the potential role of other emission reducing policies.
Second, what changes in energy prices, production, and consumption occur under different tax rates? These questions are addressed by assessing three carbon tax rate scenarios.
Based on this analysis, we make the following key findings: Emission reductions primarily occur in the electric power sector. The sector is the most responsive to a carbon price, and, in turn, this is where most economy-wide emission reductions occur. A carbon tax drives large increases in renewable energy production and large declines in coal production.
Zero-emitting renewable energy makes up 29 to 41 percent of total US electric power generation independing on the tax rate scenario, which represents a two- to threefold increase from levels.
Renewables fall in behind coal generation, which declines substantially in all scenarios. The carbon tax drives a 28 to 84 percent reduction in US coal production by compared to current policy. Average per capita energy expenditures rise under a carbon tax but do not reach the inflation adjusted high levels seen in recent history, even in the highest tax rate scenario.
Increases in energy expenditures per capita due to a carbon tax range from 7 to 27 percent relative to current policy in Meanwhile, per capita energy expenditures during the commodities boom in the run-up to the great recession were even higher.
Decisions over revenue of this magnitude could be contentious. Revenue could be directed to a variety of productive uses, including cutting other taxes, deficit reduction or rebates to individuals.
Beyonda carbon tax at the levels considered in this analysis may not be not sufficient for achieving emissions targets. While this paper focuses on the emissions and energy system impacts of a carbon tax in the United States, the results are used in separate analyses of the potential distributional and macroeconomic impacts of a carbon tax, which are also part of the CGEP Carbon Tax Research Initiative series.History of the Nuclear energy policy of the United States.
Almost a year after World War II ended, Congress established the United States Atomic Energy Commission (AEC) to foster and control the peacetime development of atomic science and technology. Renewable energy accounted for % of total primary energy consumption and % of the domestically produced electricity in the United States in Hydroelectric power is currently the largest producer of renewable electricity in the country, generating around % of the nation's total electricity in as well as % of the total renewable electricity generation.
United States, officially United States of America, abbreviated U.S. or U.S.A., byname America, country in North America, a federal republic of 50 states. Besides the 48 conterminous states that occupy the middle latitudes of the continent, the United States includes the state of Alaska, at the northwestern extreme of North America, and the island state of Hawaii, in the mid-Pacific Ocean.
COMPREHENSIVE TAX REFORM AND U.
S. ENERGY POLICY1 by Dale W. Jorgenson A separate study by CBO projects that the fiscal cliff could produce a new recession.3 Developing and implementing a coherent energy policy for the United States has always been problematical.
This arises from the fact that the production and use of energy is. The U.S. Department of Energy announced that Brian J.
Anderson, Ph.D. will be the new director of DOE’s National Energy Technology Laboratory (NETL). Get the latest science news and technology news, read tech reviews and more at ABC News.