HONR 229L: Climate Change: Science, Economics, and Governance

1. HONR 229L: Climate Change: Science, Economics, and Governance The Economics of Climate Change, Part II Your name here 7 November 2016

2. As always, I suggest working the admission ticket questions into the presentation. While this is not essential, it does provide a common point of reference for everyone.

3. Can breeze through this one … kind of an “ice breaker” The policy response to climate change section begins by noting 3 preventive or mitigation measures, which consist of 2 options to reduce the emissions of GHGs and what I would call a single additional option to enhance carbon sinks. a) what are these 3 measures? Ross stated he would categorize one of these measures as being a “no brainer”, another as being “hopeful”, and a third as being “unlikely” to occur … because in his opinion a policy maker would find it useful to place policy options in these types of categories. b) for these 3 measures described above, state which you believe is a “no brainer”, which you would classify as “hopeful”, and which you think is “unlikely” to occur. Provide a single sentence of justification for one of these classifications. I’ve advised discussion leads to prepare slides asking the class to provide answers, to facilitate some conversation, then prepare a slide with your answers. Proceed as you see fit 

4. For Q2, perhaps begin with Figure 10 (next page) then perhaps use this subset of questions If the price of gasoline in the US were to rise to the mean value that existed in Europe shown in Table 5, how much (roughly!) would your family’s consumption of gasoline decline (here, can consider only those who drive appreciable distances). Also, even though I did not ask this on the AT, can ask the class questions such as: Why is gasoline so much more expensive in Europe than in the US? What would happen in the US, if the price of gasoline was as expensive as in Europe?

5. Here is Fig 10 in an easy to re-size format

6. Much of the reading focuses on a description of Carbon Tax and Cap & Trade. Q3 of the AT reads: Write an essay of between 4 and 10 sentences, comparing and contrasting Carbon Taxation and Cap & Trade of Carbon emissions, and conclude by noting which policy option you think (if either) should be pursued to transition society away from fossil fuels. You are welcome to conclude by stating neither option should be pursued. If so, then please champion one of the other options listed on page 38 OR suggest another policy option. • You certainly could lead an extended discussion of: • what is a carbon tax?… if so try to explain Table 5 (next slide). Note, I’ll return to this Table in the “Last Word” • what is Cap & Trade? (here, Fig 12 would be quite useful) • strengths / weaknesses of each approach (here, IMHO, Box 7 is extremely helpful) • perhaps a minor shout out to the 4 additional policy options on page 38 (here, I would not expect students to remember these off the top of their head but I would expect students to be able to describe each, when the name of the policy is shown), and, drum roll please … • e) extended discussion of the last part of Q3 of the AT !

7. Here is Table 5 in an easy to re-size format

8. Here is Fig 12 in an easy to re-size format

9. I’s suggest some time on the climate stabilization wedges. Can work off of AT4 a) of the 13 bulleted items given on page 41, which do you think is most likely to be practical and actually yield more than a 1 billion ton of C emission benefit by year 2060? (note, given our language in Q1, we’d call this the “no brainer” option) b) of the 13 bulleted items on page 41, which do you think is least likely from both a practical and C emission benefit point of view? (i.e., which is “unlikely”). . • Plus Figure 13 (next slide) and a list of the 13 wedges. • Might want to see if any students can explain the figure, then offer your explanation of the figure (email me if you have any questions), then have some discussion (perhaps some debate, but please not Jerry Springer style) of a) & b) above

10. Here is Fig 13 in an easy to re-size format

11. Here is a numbered list of the wedges: • Doubling automobile fuel efficiency • Decrease the number of car miles traveled globally by half • Doubling efficiency of coal-based electric plants • Replacing coal plants with efficient natural gas plants • Increasing wind capacity 10 times relative to 2004 levels • Installing 100 times the 2004 capacity of solar electric generation • Eliminating tropical deforestation • Instituting carbon-saving conservation tillage in global agriculture • Retrofitting buildings for maximum energy efficiency • Capturing and storing carbon emissions from coal plants • Doubling nuclear generating capacity • Increase ethanol production twelve-fold through biomass plantations • Using solar-produced hydrogen for fuel-cell cars

12. There might still be time to discuss Figure 14, using, should you so desire, Q5 of the AT as the focal point for a discussion: Figure 14 provides pictorial representation of a large number of GHG abatement options, tied to how much CO2 emissions can be reduced in year 2030. Please recall the avoidance of the emission of 25 billion tons of CO2 is equivalent to avoidance of 6.8 billion tons of Carbon. a) Figure 14 contains 8 policy options that lead to the avoidance of CO2 emissions and save money: i.e., these are cost effective. Excluding “standby losses” (unless you can explain what this means), which other policy option are you most surprised to see in this grouping? b) Figure 14 contains 16 named (and presumably a handful of unnamed) policy options that would avoid CO2 emissions but place an economic burden on society. Which policy option are you most surprised to see in this grouping?.

13. And here is Figure 14 as an easy to re-size PNG

14. Should you so desire, you are welcome to also discuss Box 8. There is a lot on the web you can draw from should you choose to discuss. On the other hand, the material above could easily fill 45 mins. If you don’t discuss the US CAFE standard, I may do so. Truly fine either way. Goal here is to lead a conversation with the students about the material. I specifically cut back on the reading (originally had you reading to the end of this module) because I thought there was enough to cover in 45 mins, if we stopped at the end of Box 8.

15. As I write to all of the students: • your call on how to use the ~45 mins • I like using some AT questions, to facilitate discussion, but I can tell from the feedback sheets that some students think this has been over done (if so, my fault!) • If you send me a draft over the weekend, or anytime before noon on Mon, I can review and send comments. If you end up not emailing final copy, then please aim to be present with final copy available either on laptop or memory stick at • 4:45 pm • Feel free to bring in material from the web (students usually appreciate a little bit of extra material, steer in whatever direction you’d like, etc. • Also, very sorry for posting so late  I too am getting worn down with the grind of the semester. • Good luck!