Environmentally Responsible Energy Pricing

This paper assesses the value of the non-global warming externalities associated with energy use. The estimates of the full social cost energy prices based on this "no regrets"approach imply environmental costs that often greatly exceed current tax amounts. The midpoint estimates suggest t...

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Bibliographic Details
Published in:The Energy journal (Cambridge, Mass.) Mass.), 1994-04, Vol.15 (2), p.23-42
Main Authors: Viscusi, W. Kip, Magat, Wesley A., Carlin, Alan, Dreyfus, Mark K.
Format: Article
Language:English
Subjects:
Ad valorem taxes
Analysis
Carbon taxes
Climate change
Coal
Diesel fuels
Energy consumption
Energy economics
Energy Perspectives
Energy sources
Environmental agencies
Environmental aspects
Environmental protection
Externalities (Economics)
Gasoline
Gasoline taxes
Green taxes
Natural gas
Prices and rates
Renewable energy
Taxation
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Summary:This paper assesses the value of the non-global warming externalities associated with energy use. The estimates of the full social cost energy prices based on this "no regrets"approach imply environmental costs that often greatly exceed current tax amounts. The midpoint estimates suggest that the price of coal is most out of line with its efficient level. Natural gas is currently overtaxed, and gasoline is appropriately taxed. There is also a substantial range of uncertainty embodied in the no regrets estimates.
ISSN:0195-6574
1944-9089
DOI:10.5547/ISSN0195-6574-EJ-Vol15-No2-2