Stanford University Business School: Cap – and – Trade is Cheap(er)…
Stanford University’s Graduate School of Business has issued a report that says that cap-and-trade will not “devastate the economy,” as some have predicted, and will in fact be cheaper to implement than has been alleged.
Report co-authors, Business School Professor Stefan Reichelstein and graduate student Ozge Islegen say:
After several dire scenarios reported in the popular press, we became interested in measuring and quantifying exactly what that cost would be.
One of those dire scenarios was outlined in Mckinsey & Co‘s much quoted 2007 “Reducing Greenhouse Gas Emissions: How Much at What Cost?” study, which predicted that the price of CO2 emission permits would have to reach $50 per ton before power plants would convert to carbon capture and storage (CCS) technologies. Read More »
