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
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
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.:
- Tahvonen, O. & Withagen, C.A.A.M., 1996.
"Optimality of irreversible pollution accumulation,"
Open Access publications from Tilburg University
urn:nbn:nl:ui:12-3107026, Tilburg University.
- Tahvonen, Olli & Withagen, Cees, 1996. "Optimality of irreversible pollution accumulation," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 20(9-10), pages 1775-1795.
- Forster, Bruce A., 1975. "Optimal pollution control with a nonconstant exponential rate of decay," Journal of Environmental Economics and Management, Elsevier, vol. 2(1), pages 1-6, September.
- Toman, Michael A. & Withagen, Cees, 2000.
"Accumulative pollution, "clean technology," and policy design,"
Resource and Energy Economics, Elsevier,
Elsevier, vol. 22(4), pages 367-384, October.
- Toman, Michael & Withagen, Cees, 1998. "Accumulative Pollution, "Clean Technology," and Policy Design," Discussion Papers, Resources For the Future dp-98-43, Resources For the Future.
- Olli Tahvonen, 1997. "Fossil Fuels, Stock Externalities, and Backstop Technology," Canadian Journal of Economics, Canadian Economics Association, Canadian Economics Association, vol. 30(4), pages 855-74, November.
- Farzin, Y H & Tahvonen, O, 1996. "Global Carbon Cycle and the Optimal Time Path of a Carbon Tax," Oxford Economic Papers, Oxford University Press, vol. 48(4), pages 515-36, October.
- Wilfried Rickels & Katrin Rehdanz & Andreas Oschlies, 2009. "Accounting aspects of ocean iron fertilization," Kiel Working Papers 1572, Kiel Institute for the World Economy.
- Niko Jaakkola, 2013. "Monopolistic Sequestration of European Carbon Emissions," OxCarre Working Papers, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford 098, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.
- Alain Jean-Marie & Michel Moreaux & Mabel Tidball, 2011. "Carbon sequestration in leaky reservoirs," Post-Print, HAL hal-00863230, HAL.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dieter Stribny).
If references are entirely missing, you can add them using this form.