Why Have Greenhouse Emissions in RGGI States Declined? An Econometric Attribution to Economic, Energy Market, and Policy Factors

Duke Environmental and Energy Economics Working Paper Series, No. EE 14-01

29 Pages Posted: 23 Jul 2014

See all articles by Brian C. Murray

Brian C. Murray

Duke University

Peter Maniloff

Colorado School of Mines

Evan Murray

Trinity College of Arts and Sciences, Duke University

Date Written: May 2014

Abstract

The Regional Greenhouse Gas Initiative (RGGI) is a consortium of Northeastern U.S. states that limit carbon dioxide emissions from electricity generation through a regional emissions trading program. Since RGGI started in 2009, regional emissions have sharply dropped. We use econometric models to quantify the emissions reductions due to RGGI and those due to other factors such as the recession, complementary environmental programs, and lowered natural gas prices. The analysis shows that RGGI has induced greater emissions reductions within the region than have been achieved proportionally in the rest of the United States, though some extramural leakage may have occurred.

Suggested Citation

Murray, Brian C. and Maniloff, Peter and Murray, Evan, Why Have Greenhouse Emissions in RGGI States Declined? An Econometric Attribution to Economic, Energy Market, and Policy Factors (May 2014). Duke Environmental and Energy Economics Working Paper Series, No. EE 14-01. Available at SSRN: https://ssrn.com/abstract=2467545 or http://dx.doi.org/10.2139/ssrn.2467545

Brian C. Murray (Contact Author)

Duke University ( email )

100 Fuqua Drive
Durham, NC 27708-0204
United States

Peter Maniloff

Colorado School of Mines ( email )

Golden, CO 80401
United States

Evan Murray

Trinity College of Arts and Sciences, Duke University ( email )

Durham, NC 27708-0204
United States

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