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Taxing crude oil: A financing alternative to mitigate climate change?

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To date, global cooperation has not provided enough funds to counter climate change, as evidenced by the Green
Climate Fund experience. Based on this fact, this document evaluates the revenue potential of an international
tax on crude oil to finance programs to mitigate climate change. For this purpose, a dynamic, general equilibrium
model for the world economy with two regions is proposed. One region is a net importer of oil, while the other is
an exporter. In the model, oil exports are subject to a permanent per-barrel tax. Short- and long-run revenue
projections are offered under alternative assumptions. Some exercises suggest that the resources generated from
a $5 per-barrel tax on 25% of world oil exports would amount to $18.4 billion dollars in the initial year. To
implement such policy at the international level, an “Oil and Climate Club” is proposed, where revenues from oil
taxation would be allocated to funding environment-friendly programs. The paper includes a discussion on how
to make the club’s rules consistent with international trade laws.

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Ketersediaan

EJ20157

My Library

Tersedia

Informasi Detil

Judul Seri

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No. Panggil

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Penerbit

Elsevier Ltd. : ., 2020

Deskripsi Fisik

9 p.

Bahasa

English

ISBN/ISSN

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Klasifikasi

NONE

Tipe Isi

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Tipe Media

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Tipe Pembawa

online resource

Edisi

Energy Policy 136 (2020) 111031

Subyek

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Info Detil Spesifik

Ejurnal

Pernyataan Tanggungjawab

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Versi lain/terkait

Lampiran Berkas

Komentar

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