Optimal Global Carbon Management with Ocean Sequestration
AbstractWe investigate the socially optimal anthropogenic intervention into the global carbon cycle. The limiting factor for this intervention is the accumulation of carbon in the atmosphere, which causes global warming. We apply a simplified two-box model to incorporate aspects of the global carbon cycle in a more appropriate way than a simple proportional decay assumption does. Anthropogenic intervention into the global carbon cycle enters the model as the amount of CO2 emitted into the atmosphere and the amount of CO2 injected into the deep ocean for purposes of sequestration. We derive a critical cost level for sequestration above which sequestration is just a temporary option or below which it is the long-run option allowing extended use of fossil fuels. The second option involves higher atmospheric stabilization levels, whereby the efficiency of sequestration depends on the time preference and the inertia of the carbon cycle
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Bibliographic InfoPaper provided by Kiel Institute for the World Economy in its series Kiel Working Papers with number 1432.
Length: 36 pages
Date of creation: Jul 2008
Date of revision:
Climate Change; Global Carbon Cycle; CO2 Emissions; Sequestration;
Other versions of this item:
- Wilfried Rickels & Thomas S. Lontzek, 2012. "Optimal global carbon management with ocean sequestration," Oxford Economic Papers, Oxford University Press, vol. 64(2), pages 323-349, April.
- Q30 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - General
- Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-08-06 (All new papers)
- NEP-ENE-2008-08-06 (Energy Economics)
- NEP-ENV-2008-08-06 (Environmental Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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