Optimal Global Carbon Management with Ocean Sequestration
We 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
|Date of creation:||Jul 2008|
|Date of revision:|
|Contact details of provider:|| Postal: Kiellinie 66, D-24105 Kiel|
Phone: +49 431 8814-1
Fax: +49 431 85853
Web page: http://www.ifw-kiel.de
More information through EDIRC
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.:
- Toman, Michael & Withagen, Cees, 1998.
"Accumulative Pollution, "Clean Technology," and Policy Design,"
dp-98-43, Resources For the Future.
- Toman, Michael A. & Withagen, Cees, 2000. "Accumulative pollution, "clean technology," and policy design," Resource and Energy Economics, Elsevier, vol. 22(4), pages 367-384, October.
- Tahvonen, Olli & Withagen, Cees, 1996. "Optimality of irreversible pollution accumulation," Journal of Economic Dynamics and Control, 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.
- 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.
- Olli Tahvonen, 1997. "Fossil Fuels, Stock Externalities, and Backstop Technology," Canadian Journal of Economics, Canadian Economics Association, vol. 30(4), pages 855-74, November.
When requesting a correction, please mention this item's handle: RePEc:kie:kieliw:1432. See general information about how to correct material in RePEc.
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.