Large share of coal reserve is not used to achieve climate stabilization • Oil and gas consumption still largely exceed conventional reserves • Relaxed short term emission targets strongly distort fossil energy markets. • Carbon leakage is highly uncertain and depends on fossil energy markets. • Carbon leakage rates can turn negative due to fossil fuel trade and substitution effects.
CO2 emission mitigation and fossil fuel markets: Dynamic and international aspects of climate policies
BOSETTI, VALENTINA;
2013
Abstract
Large share of coal reserve is not used to achieve climate stabilization • Oil and gas consumption still largely exceed conventional reserves • Relaxed short term emission targets strongly distort fossil energy markets. • Carbon leakage is highly uncertain and depends on fossil energy markets. • Carbon leakage rates can turn negative due to fossil fuel trade and substitution effects.
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