State Climate Policy Solutions For a new, stronger, clean energy economy State Climate Policy Solutions For a new, stronger, clean energy economy NCEL09.08.09.

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Presentation transcript:

State Climate Policy Solutions For a new, stronger, clean energy economy State Climate Policy Solutions For a new, stronger, clean energy economy NCEL K.C. Golden Policy Director NCEL K.C. Golden Policy Director

“We are addicted to oil” Symptoms: Economic hemorrhaging: $450 M per month in King County Fever: increasing average temp is the least of it

“We are addicted to oil” Symptoms: Economic hemorrhaging: Over $450 M per month in King County Fever: increasing average temp is the least of it Acute national insecurity: “Paying for both sides of the war on terror”

Treatments for addiction Gas tax holiday: Cheaper drugs Drilling: Increase the supply of drugs Quit : Steadily reduce dependence….. ….by building a clean energy economy….

CAP Policy commitment to steadily reduce fossil fuel dependence …and a platform for launching a green economy

State policies: Climate plans Maps from Pew Center

State policies: Renewable Portfolio Standards

State policies: Vehicle GHG Standards

State policies: Commercial energy codes

Cap makes it real: Get your wedge on!

Key principles for climate policy design EFFECTIVENESS EFFICIENCY EQUITY

Effectiveness - Scale

How much do we have to reduce climate pollution? Enough to stabilize the concentration of GHGs in the atmosphere “at a level that would prevent dangerous anthropogenic interference with the climate system.” How much is that? Avoid increases in average global temperature of > 2 degrees C How much is that? Stabilize the concentration of GHGs at ppm So how much do we have to reduce climate pollution? 80% by More in the U.S. Avoiding Dangerous Climate Change – Cambridge University Press Effectiveness - Scale

Effectiveness - Build

Effectiveness – Get going!

Efficiency

Equity Internationally Domestically Sectors, geographies, industries, economics

Equity – Green for all

Design issues Cap and trade vs. Carbon tax Effectiveness: Quantity, not price, is the public policy imperative Trade Tax Standards Incentives Investments

Design issues -- scope More is better Effectiveness: Reduce more Efficiency: liquidity, simplicity Equity: not just point sources

Design issues – emission rights Auction or give away? Effectiveness: rewards innovation; facilitates investment, consumer protection Efficiency: simpler (baselines, early action) Equity: avoids windfalls; level playing field

Design issues - Offsets Limit them Effectiveness: discourages transformation Carbon storage in biomass not equivalent to emission reduction Efficiency: verification is complex; “additionality” – critical, but counterfactual Equity: aggravates environmental justice concerns; intergenerational foul

Cap and trade works for acid rain Annual Mean Wet Sulfate Deposition

Acid Rain SO 2 Program Costs: Much Lower than Originally Predicted Source: EPA, 2006

Fossil fuel price politics Concern that climate policy will raise prices But prices are through the roof now! Why? Supply and demand. What drives the opposition? It will reduce our consumption of fossil fuels

Public opinion Public “favors” drilling But they favor efficiency, renewables, and climate solutions by wider margins Bottom line: Do something!

Why states? “Global” warming is a local, state and regional issue

State Climate Policy Solutions For a new, stronger, clean energy economy State Climate Policy Solutions For a new, stronger, clean energy economy NCEL K.C. Golden Policy Director NCEL K.C. Golden Policy Director