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Watch the price of carbon!. CEPS Commentaries, 21 December 2007

Gros, Daniel. (2007) Watch the price of carbon!. CEPS Commentaries, 21 December 2007. [Policy Paper]

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    Abstract

    The agreement reached in December 2007 at Bali aims make it easier to reach a new accord on limiting CO2 emissions once the Kyoto Protocol expires in 2012. In this new Commentary, however, CEPS Director Daniel Gros warns that an important change in the relative prices of oil and coal in recent years will actually make it more difficult to achieve meaningful reductions in CO2 emissions. The key fact that the price of coal has fallen considerably relative to the price of crude oil will encourage the substitution of a hydrocarbon (oil) with pure carbon (coal), thus increasing the carbon intensity of energy use.

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    Item Type: Policy Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > energy policy (Including international arena)
    EU policies and themes > Policies & related activities > environmental policy (including international arena)
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for European Policy Studies (Brussels) > CEPS Commentaries
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 19 Nov 2009
    Page Range: p. 3
    Last Modified: 15 Feb 2011 18:15
    URI: http://aei.pitt.edu/id/eprint/11605

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