U.S. Climate Policy Developments

43 Pages Posted: 4 Mar 2008 Last revised: 13 Aug 2009

See all articles by Toshi H. Arimura

Toshi H. Arimura

Waseda University - School of Political Science and Economics

Dallas Burtraw

Resources for the Future

Alan Krupnick

Resources for the Future

Karen L. Palmer

Resources for the Future

Date Written: October 1, 2007

Abstract

This paper outlines recent developments in U.S. climate policies. Although the United States does not participate in the Kyoto Mechanism, a number of climate policies are being implemented at state level as well as at the federal level. First, we report and compare the federal cap and trade proposals in the 110th Congress. Then, the paper illustrates the current situations of state level climate policies, such as the Regional Greenhouse Gas Initiative in the northeastern states or AB32 in California. We analyze these proposals from the viewpoint of technology policies and impacts on international markets. It is found that technology policies play important roles in the cap and trade proposals and that there is a great expectation for carbon capture and sequestration (CCS) technology. In terms of the impacts on international markets, several federal proposals as well as regional programs permit trading in international markets. As emission targets become more stringent in the future, U.S. GHG emitters are more likely to interact with these markets. Thus, despite the lack of U.S. participation in the Kyoto Protocol, U.S. markets will be linked to foreign markets, at least, in an indirect way.

Keywords: United States, climate policy, cap and trade, the Kyoto mechanism

JEL Classification: K32, Q48, Q54, Q58

Suggested Citation

Arimura, Toshihide H. and Burtraw, Dallas and Krupnick, Alan and Palmer, Karen, U.S. Climate Policy Developments (October 1, 2007). RFF Discussion Paper No. 07-45. Available at SSRN: https://ssrn.com/abstract=1101632 or http://dx.doi.org/10.2139/ssrn.1101632

Toshihide H. Arimura (Contact Author)

Waseda University - School of Political Science and Economics ( email )

1-6-1 Nishi-Waseda
Shinjuku-ku, Tokyo 169-8050, Tokyo 169-8050
Japan

Dallas Burtraw

Resources for the Future ( email )

1616 P Street, NW
Washington, DC 20036
United States
202-328-5087 (Phone)

Alan Krupnick

Resources for the Future ( email )

1616 P Street, NW
Washington, DC 20036
United States

Karen Palmer

Resources for the Future ( email )

1616 P Street, NW
Washington, DC 20036
United States

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