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Analysis Of The Impact Of Environmental Taxes On Co2 Emissions From The Energy Sector

Author

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  • PICIU, Gabriela-Cornelia

    (Centre for Financial and Monetary Research “Victor Slavescu”, N.I.E.R., Romanian Academy, Bucharest, Romania)

Abstract

This article analyzes the impact of a carbon tax in a hypothetical high-growth and low-growth economy. Carbon taxes are found to increase the cost of CO2 emissions, which provides an incentive for CO2 emitters to use low-carbon fuels or take other measures to reduce CO2 emissions. Carbon capture, use and storage technologies offer fuel producers another option for reducing CO2 emissions, leading to lower costs associated with carbon taxes. We assume that CO2 can be captured from some industrial processes and electricity generation and then sold to enhanced oil recovery operations. Given the concerns about carbon pricing, it is important to know that more than 70% of greenhouse gas emissions are domestic, and trade and competitiveness issues are much less important in addressing these emissions sources.

Suggested Citation

  • PICIU, Gabriela-Cornelia, 2023. "Analysis Of The Impact Of Environmental Taxes On Co2 Emissions From The Energy Sector," Journal of Financial and Monetary Economics, Centre of Financial and Monetary Research "Victor Slavescu", vol. 11(1), pages 258-266, October.
    • Handle: RePEc:vls:rojfme:v:11:y:2023:i:1:p:258-266
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    More about this item

    Keywords

    taxes; carbon; climate change; high-growth; low-growth;
    All these keywords.

    JEL classification:

    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling
    • Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics

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