an imbalance of the carbon cycle effects CO2 levels
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which produces more CO2 gt: terrestrial or fossil fuel?
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- what does the organic carbon cycle have to do with this and if the cycle was changed?
fossil fuel emissions are small relative to fluxes in the terrestrial organic carbon cycle means that imbalances in the organic carbon cycle (e.g., deforestation, reforestation) can have a substantial effect on atmospheric CO2 levels
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what 2 environmental issues can change feedback loops?
1. land use
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2. deforestation
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how much CO2 goes into the oceans? atmosphere?
- oceans: 50%
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- atmosphere: 50%
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how much has atmospheric CO2 changed (number of times increased)?
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what is the increase by °C?
- atmospheric CO2 has increased by 8x
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- increases from 6 - 15 degrees C
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with a 2x increase of CO2, what is the increase of degrees C?
2-5 degrees C of warming
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is proactive policy categorized as mitigation or adaptation? is reactive policy categorized as mitigation or adaptation? what do both mitigation/adaptation proactive/reactive do to the public?
- proactive policy is mitigation
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- reactive policy is adaptation
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- both mitigation/adaptation proactive/reactive alleviate public fear
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cost-benefit analysis: DICE model
this model weighs the economic damages with cost mitigation used by the EPA
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- Nordhaus used the DICE model in 1992
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what 2 things contribute to the discount rate?
1. growth discounting (saving and investing)
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2. time preference/inherent discounting (wanting money in present bc of inflation in future)
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simple example of growth discounting?
buying a stock and using that newly earned money in the future
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- Instead of spending $10,000 on new windows for their house and saving $100/year off their energy usage. The owners purchased Apple stock with the initial $10,000 and over 10 years the value increased to $12,000
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critiques on growth discounting? critiques on time preference/inherent discounting?
- critiques on growth discounting: more money in future, so it's the future problem
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- critiques on time preference/inherent discounting: people want their money now to have and spend
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discount rate according to Nordhaus? how does Nordhaus justify catastrophic events?
3% per year (Nordhaus assumed a 3% discount rate)
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- he says that catastrophic events will be minimal in 200 yrs bc of the money and tech we will have to fix it
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what does higher consumption mean with marginal utility? what is the relationship of a high discount rate with benefits? (increase or decrease)
more consumption \= the more you get, the less you want (marginal utility)
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- high discount rate decreases benefits
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factors in DICE model? (3) what happens to the problems?
1. population growth
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2. new technology
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3. climate change
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- the problems fix themselves
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is 3% (discount rate) optimistic or pessimistic? what about 1.4%?
- 3% is optimistic
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- 1.4% is pessimistic
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what does stern say about CO2 emissions and money for today?
stern says we need to cut back on CO2 hard and fast NOW and spend money NOW
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why did the US withdraw from the Kyoto protocol?
bc we thought it wouldn't prevent anything and it was stunting the US economic growth
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intergenerational equity: definition and when we need to invest money?
meeting the needs of the present without compromising the ability of future generations to meet their needs
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- invest more money now
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in basic economic discounting, at a 5% rate, a benefit of $100 realized 2 years from now will be what?
$90.70
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what is the relationship with discount rates and the benefits of actions designed to reduce greenhouse gas emissions? (positive or negative)
in terms of future discounting, using a high discount rate decreases the assessed benefits of actions designed to reduce greenhouse gas emissions - negative correlation
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stern plan tax on carbon ($/ton)? what it rose to ($/ton)? tax on gas? (cents/ton)
the Stern plan stated that carbon would be initially taxed at $100/ton and rise to $950/ton over 200 years, including a 30¢/gal tax on gasoline
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what year does RCP 8.5 peaks at ?
the RCP 8.5 states emissions peak around 2100 and then decline
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what year does RCP 6 peak at?
the RCP 6 states emissions peak around 2080 and then decline
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how does the Stern Review compare to the Nordhaus model?
Stern recommended much higher discount rates which concluded future cost of damages to be much higher than Nordhaus - I think bc of inflation