Copyright © 2015 University of Maryland. This material may not be reproduced or redistributed, in whole or in part, without written permission from Ross Salawitch. 1 HONR 229L: Climate Change: Science, Economics, and Governance The Economics of Climate Change, Part II Your name here 11 November 2015

Copyright © 2015 University of Maryland. This material may not be reproduced or redistributed, in whole or in part, without written permission from Ross Salawitch. 2 As always, I suggest working the admission ticket questions into the presentation. While this not essential, it does provide a common point of reference for everyone.

Copyright © 2015 University of Maryland. This material may not be reproduced or redistributed, in whole or in part, without written permission from Ross Salawitch. 3 The policy response to climate change section begins by noting 3 preventive or mitigation measures, which consist of 2 options to reduce the emissions of GHGs and what I would all a single additional option to enhance carbon sinks. a) what are these 3 measures? Ross stated he would categorize one of these measures as being a “no brainer”, another as being “hopeful”, and a third as being “unlikely” to occur … because in his opinion a policy maker would find it useful to place policy options in these types of categories. b) for these 3 measures described above, state which you believe is a “no brainer”, which you would classify as “hopeful”, and which you think is “unlikely” to occur. Provide a single sentence of justification for one of these classifications. Can breeze through this one … kind of an “ice breaker” I’ve advised students to prepare slides asking the class to provide answers, to facilitate some conversation, then prepare a slide with your answers. Proceed as you see fit

Copyright © 2015 University of Maryland. This material may not be reproduced or redistributed, in whole or in part, without written permission from Ross Salawitch. 4 If the price of gasoline in the US were to rise to the mean value that existed in Europe shown in Table 5, how much (roughly!) would your family’s consumption of gasoline decline (here, can consider only those who drive appreciable distances). Why is gasoline so much more expensive in Europe than in the US? For Q2, perhaps begin with Figure 10 (next page) then perhaps use this subset of questions

Copyright © 2015 University of Maryland. This material may not be reproduced or redistributed, in whole or in part, without written permission from Ross Salawitch. 5 Here is Fig 10 in an easy to re-size format

Copyright © 2015 University of Maryland. This material may not be reproduced or redistributed, in whole or in part, without written permission from Ross Salawitch. 6 Write an essay of between 5 and 12 sentences, comparing and contrasting Carbon Taxation and Cap & Trade of Carbon emissions, and conclude by noting which policy option you think (if either) should be pursued to transition society away from fossil fuels. You are welcome to conclude by stating neither option should be pursued. If so, then please champion one of the other options listed on page 38 OR suggest another policy option. Much of the reading focuses on a description of Carbon Tax and Cap & Trade. Q3 of the AT reads: You certainly could lead an extended discussion of: a)what is a carbon tax?… if so try to explain Table 5 (next slide). Note, I’ll return to this Table in the “Last Word” b)what is Cap & Trade? (here, Fig 12 would be quite useful) c)strengths / weaknesses of each approach (here, IMHO, Box 7 is extremely helpful) d)perhaps a minor shout out to the 4 additional policy options on page 38 (here, I would not expect students to remember these off the top of their head but I would expect students to be able to describe each, when the name of the policy is shown), and, drum roll please … e) extended discussion of the last part of Q3 of the AT !

Copyright © 2015 University of Maryland. This material may not be reproduced or redistributed, in whole or in part, without written permission from Ross Salawitch. 7 Here is Table 5 in an easy to re-size format

Copyright © 2015 University of Maryland. This material may not be reproduced or redistributed, in whole or in part, without written permission from Ross Salawitch. 8 Here is Fig 12 in an easy to re-size format

Copyright © 2015 University of Maryland. This material may not be reproduced or redistributed, in whole or in part, without written permission from Ross Salawitch. 9 a) of the 13 bulleted items given on page 41, which do you think is most likely to be practical and actually yield more than a 1 billion ton of C emission benefit by year 2060? (note, given our language in Q1, we’d call this the “no brainer” option. b) of the 13 bulleted items on page 41, which do you think is least likely from both a practical and C emission benefit point of view? (i.e., which is “unlikely”).. I’s suggest some time on the climate stabilization wedges. Can work off of AT4 Plus Figure 13 (next slide) and a list of the 13 wedges. Might want to see if any students can explain the figure, then offer your explanation of the figure ( me if you have any questions), then have some discussion (perhaps some debate, but please not Jerry Springer style) of a) & b) above

Copyright © 2015 University of Maryland. This material may not be reproduced or redistributed, in whole or in part, without written permission from Ross Salawitch. 10 Here is Fig 13 in an easy to re-size format

Copyright © 2015 University of Maryland. This material may not be reproduced or redistributed, in whole or in part, without written permission from Ross Salawitch. 11 Here is a numbered list of the wedges: 1.Doubling automobile fuel efficiency 2.Decrease the number of car miles traveled globally by half 3.Doubling efficiency of coal-based electric plants 4.Replacing coal plants with efficient natural gas plants 5.Increasing wind capacity 10 times relative to 2004 levels 6.Installing 100 times the 2004 capacity of solar electric generation 7.Eliminating tropical deforestation 8.Instituting carbon-saving conservation tillage in global agriculture 9.Retrofitting buildings for maximum energy efficiency 10.Capturing and storing carbon emissions from coal plants 11.Doubling nuclear generating capacity 12.Increase ethanol production twelve-fold through biomass plantations 13.Using solar-produced hydrogen for fuel-cell cars

Copyright © 2015 University of Maryland. This material may not be reproduced or redistributed, in whole or in part, without written permission from Ross Salawitch. 12 Figure 14 provides pictorial representation of a large number of GHG abatement options, tied to how much CO 2 emissions can be reduced in year Please recall the avoidance of the emission of 25 billion tons of CO 2 is equivalent to avoidance of 6.8 billion tons of Carbon. a) Figure 14 contains 8 policy options that lead to the avoidance of CO 2 emissions and save money: i.e., these are cost effective. Excluding “standby losses” (unless you can explain what this means), which other policy option are you most surprised to see in this grouping? b) Figure 14 contains 16 named (and presumably a handful of unnamed) policy options that would avoid CO 2 emissions but place an economic burden on society. Which policy option are you most surprised to see in this grouping?. There might still be time to discuss Figure 14, using, should you so desire, A5 of the AT as the focal point for a discussion:

Copyright © 2015 University of Maryland. This material may not be reproduced or redistributed, in whole or in part, without written permission from Ross Salawitch. 13 And here is Figure 14 as an easy to re-size PNG

Copyright © 2015 University of Maryland. This material may not be reproduced or redistributed, in whole or in part, without written permission from Ross Salawitch. 14 Should you so desire, you are welcome to also discuss Box 8. There is a lot on the web you can draw from should you choose to discuss. On the other hand, the material above could easily fill 45 mins. If you don’t discuss the US CAFE standard, I may do so. Truly fine either way. Goal here is to lead a conversation with the students about the material. I specifically cut back on the reading (originally had you reading to the end of this module) because I thought there was enough to cover in 45 mins, if we stopped at the end of Box 8.

Copyright © 2015 University of Maryland. This material may not be reproduced or redistributed, in whole or in part, without written permission from Ross Salawitch. 15 As I write to all of the students: a)your call on how to use the ~45 mins b)I like using some AT questions, to facilitate discussion, but I can tell from the feedback sheets that some students think this has been over done (if so, my fault!) c)If you send me a draft before noon on Wed, I can review and send comments. If you end up not ing final copy, then please aim to be present with final copy available either on laptop or memory stick at 4:45 pm Feel free to bring in material from the web (students usually appreciate a little bit of extra material, steer in whatever direction you’d like, etc. Good luck!