Cap and trade mechanism
PESD director Frank A. Wolak presented at Platt's 7th annual California Power Market Forum on the impacts of the recent implementation of convergence (or virtual) bidding in the California wholesale electricity market. Frank also chaired a panel discussion on the progress of the implementation of California's AB 32 law, which seeks to mitigate greenhouse gas emissions. Read more »
Richard Morse addresses key uncertainties remaining in the implementation of cap and trade in California, speaking to leaders from business, policy, and academia in California. Read more »
Wolak's climate op-ed featured in the UK GuardianOp-ed: UK Guardian on February 5, 2011
PESD Director Frank Wolak explain how the unknown price tag of carbon and uncertainty of US National climate policy are impeding on investments for oil substitutes.
Programs to enlist developing countries in climate change mitigation by granting credits for carbon emissions reductions across entire sectors like transportation are quite appealing in principle. However, as researcher Adam Millard-Ball shows in PESD Working Paper #97, "Adverse Selection in an Opt-In Emissions Trading Program: The Case of Sectoral Crediting for Transportation," any practical implementation of such schemes would entail thorny trade offs between economic efficiency, environmental effectiveness, and political acceptability. Read more »
On September 7, 2010, the Program on Energy and Sustainable Development in collaboration with the Stanford University's Graduate School of Business and Stanford Law School hosted an all-day conference on "Climate Policy Instruments in the Real World" in the Bechtel Conference Center. This conference featured presentations by leading researchers on the political, economic, and regulatory challenges associated with major climate policy instruments. Audio & Video transcripts available 6 presentations, conference agenda available
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Michael Wara speaks at a hearing of the Senate Energy and Natural Resources Committeein the news
While the Treasury Department goes on the offensive against media reports of cap-and-trade costs, Michael Wara testified in a Senate hearing that the House climate bill would more than pay for itself.
in the news: The Washington Post on August 11, 2009
A Washington Post article on 11 August 2009 titled "Coal's Future Wagered on Carbon Capture" by Steven Mufson quoted PESD research on the economics and scale of carbon capture and storage (CCS). The article discusses the need for CCS at scale, and also highlights the technological and cost challenges of CCS. Read more »