Energy and the Environment: Policy Options and Alternatives. A Story of Trade Offs
20 Pages Posted: 6 Nov 2019
Date Written: June 18, 2009
Even in the midst of a global economic and financial crisis, we must not lose sight of two other crises. The first is the concern that rapidly escalating and volatile prices of energy obtained from fossil fuels – i.e., principally from oil, gas and coal – may reappear once the world returns to potential growth. The second crisis is represented by the gradual depletion of natural resources and progressive increase in greenhouse gases (GHGs) in the atmosphere due to human activity. The latter is a slow moving process that, according to increasing scientific research, is contributing to global warming. The potential for economic damage – if the upward trend in GHGs is not slowed down, or even reverted, is substantial. Energy production and consumption is among the main sources of greenhouse gases and hence global warming.
Keywords: climate chane, environment, energy, tradeoff
JEL Classification: D99, Q40, Q50
Suggested Citation: Suggested Citation