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Perspective: The Role of Offsets in Climate Change Legislation

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This article shows that including offsets in climate change legislation would likely make an emissions program more cost-effective by: (a) providing an incentive for non-regulated sources to generate emission reductions; and (b) expanding emission compliance opportunities for regulated entities. Assuming the offset is legitimate—i.e.,

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Study Finds that US Subsidies for Fossil Fuels Are Almost 2.5x Those for Renewables

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US subsidies for fuels and renewable energy, 2002-2008. The study, “Estimating US Government Subsidies to Energy Sources: 2002-2008”, found that fossil fuels benefited from approximately $72 billion over the seven-year period, while subsidies for renewable fuels totaled $29 billion. Nuclear was not included in the analysis.

Renewable 338
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Annual Increase in Global CO2 Emissions Halved in 2008; Decrease in Fossil Oil Consumption, Increase in Renewables Share

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in 2008, against 3.3% In addition to high oil prices and the financial crisis, the increased use of new renewable energy sources, such as biofuels for road transport and wind energy for electricity generation, had a noticeable and mitigating impact on CO 2 emissions. billion tonnes in 2008. Source: PBL. Click to enlarge.

2008 170
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EIA: US energy-related CO2 dropped 2.7% in 2015; of end-use sectors, only transportation increased

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Specific circumstances, such as the very warm fourth quarter of 2015 and relatively low natural gas prices, put downward pressure on emissions as natural gas was substituted for coal in electricity generation. Coal’s share of total electricity generation in the power sector fell from 54% in 1990 to 34% in 2015. between 2014 and 2015.

2015 150
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EIA reports a 3.9% increase in US energy-related carbon dioxide emissions in 2010

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Consumption of coal, the most carbon-intensive fossil fuel, rose by 6% in 2010 after falling by 12% in 2009. percent increase in emissions in 2010 was primarily driven by the rebound from the economic downturn experienced in 2008 and 2009. A large drop in hydropower generation offset much of the increase in nuclear and wind and solar.

2010 268
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Global CO2 emissions up 3% in 2011; per capita CO2 emissions in China reach EU levels

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tonnes per capita, despite a decline due to the recession in 2008-2009, high oil prices and an increased share of natural gas. Coal consumption increased globally by 5.4 % in 2011, which is an above average growth, and accounts for 30.3% Coal consumption in China increased by 9.7% tonnes per capita. the United States (16%).

2011 236
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Report from the REFF-Wall Street; Themes in Renewable Energy Finance

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Ed Feo is a partner with the law firm of Milbank, Tweed, Hadley & McCloy and was voted one of the “Five Most Influential People in Renewable Energy” in 2008 by Euromoney / Institutional Investor. Dr. Paul addressed a positive change—the days of increasing US oil consumption may be over. “ Billion in 2008). Billion vs. $28.3

Financing 150