The Kyoto Protocol: Impact on EU Emissions and Competitiveness
American Council for Capital Formation
By Margo Thorning, Ph.D., Senior Vice President and Chief Economist
October 5, 2005
Testimony Before the Senate Environment and Public
Works Committee
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for Full PDF Version)
“The original 15 members of the European Union are projected to
be 7% above the 1990 emission levels by 2010,” Dr. Margo Thorning,
ACCF Senior Vice President and Chief Economist told members of the Senate
Environment and Public Works Committee in testimony on Wednesday, October
5, 2005. “EU policymakers are beginning to worry about the additional
steps required to meet the targets, including the impact of emission trading
schemes on industry.”
Dr. Thorning’s testimony summarized the results of several economic
models that analyzed the anticipated economic impact of the Kyoto Protocol
on EU GDP and employment and the impact of the emission trading system
on electricity prices. The ACCF testimony also questioned whether an international
emission trading system could function effectively.
(Click
for Full PDF Version)
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