Depletion of fossil fuels and the impacts of global warming

  title={Depletion of fossil fuels and the impacts of global warming},
  author={Snorre Kvemdokk},
  • Snorre Kvemdokk
  • Published 2003
This paper combines the theory of optimal extraction of exhaustible resources with the theory of greenhouse externalities, to analyze problems of global warming when the supply side is considered. The optimal carbon tax will initially rise but eventually fall when the externality is positively related to the stock of carbon in the atmospheie. It is shown that the tax will start falling before the stock of carbon in the atmosphere reaches its maximum. If there exists a non-polluting backstop… CONTINUE READING
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