Report No. 70290-ge
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- Policies for green transportation would prepare the Georgian economy for future changes in fuel prices and a potential international agreement on pricing carbon emissions.
Future Prices of Petroleum Fuels and Carbon Emissions Policies for green transportation would prepare the Georgian economy for future changes in fuel prices and a potential international agreement on pricing carbon emissions. Either scenario is likely for the global economy in the near future. First, continued economic growth and rising demands for private vehicles and energy in developing countries would continue to drive oil prices higher, which would raise the oil import bill for Georgia. Second, internationally coordinated climate change mitigation efforts would set a high price on carbon emissions, which could curtail oil price rises. To stabilize the GHG concentration in the atmosphere to a level that limits the global temperature increase to within 2ºC, the U.S. Department of Energy estimates that the global carbon price, implemented as a global carbon tax, would need to be US$50 per ton today and increased to US$700 by 2100. This lower bound of carbon prices assumes an immediate international agreement and global compliance. Delay in implementing a carbon pricing regime would lead to much more rapid increases of future carbon prices.CITATION Gla08 \n \t \l 1033 On the other hand, estimates from the International Energy Agency assumed that tightening private vehicle technical standards would achieve a 30 percent reduction in fossil fuel use by transport by 2050, although stricter private vehicle emission standards means higher capital costs for private vehicles, estimated at US$4,500 billion by 2050.CITATION Gla08 \n \t \l 1033 Such costs will affect lower-income households disproportionately, including Georgian consumers, compared to the effect on consumers in higher-income countries. In either case, Georgia and other non oil-producing countries are likely to face high costs for fossil fuel usagepaid at the pump, through high carbon prices or through higher vehicle prices due to stricter technical standards. Therefore, investing now in infrastructure for low-emission modes will help insulate Georgia from the almost inevitable rise in oil and carbon prices, reduce transportation costs, and improve national energy security. Directory: curated curated -> Concept stage curated -> Concept stage curated -> Republic of Côte d'Ivoire Urbanization Review curated -> Report No: aus11011 Central America curated -> Report No. 94474-pk fiscal Disaster Risk Assessment Options for Consideration curated -> Environmental and Social Management Framework for the Costa Rica Telecommunications Sector Modernization Project curated -> Environment Impact Assessment For Jiangxi Shangrao Sanqingshan Airport Beijing Guohuantiandi Environmental Technology Development Center. Ltd. Oct. 2012 Content curated -> Growth through Innovation An Industrial Strategy for Shanghai By Shahid Yusuf Kaoru Nabeshima April 22nd, 2009 curated -> Report No: 70178. People's Republic of China Download 3.46 Mb. Share with your friends:
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